How I Sold My Start-Up To Lululemon For $500 Million

  • Am Vor 2 Monate

    CNBC Make ItCNBC Make It

    Meet Brynn Putnam. The CEO and founder secured $3 million in venture capital to fund her tech-based fitness company MIRROR on the same day that she gave birth to her son.

    In the summer of 2020, Putnam sold MIRROR for $500 million to Lululemon. The pandemic has been good for business. MIRROR ads are plastered across New York’s subway, airing on TV and clogging up social media channels.

    But selling a company for half a billion dollars is just a small part of her story and frankly, not even the most interesting.

    There are three numbers to watch out for in this story. $15,000: The amount Brynn had in her savings when she quit ballet. $3 million: Her first outside investment. $500 million: The amount she sold MIRROR for in 2020.

    Here’s how Brynn Putnam built a company worth half a billion dollars in just two years.

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    How I Sold My Start-Up To Lululemon For $500 Million

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Vor 8 Stunden
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Vor 9 Stunden
marcey
marcey

To all of you in the comment section feeling bitter that she has rich parents😂.....so what? She played the cards she was dealt and made a life for herself. This isn't some inspirational video about someone claiming to be a self made millionaire, no. This is a video of her telling us how she sold her start-up. You knew that before you clicked the video😂 p.s...are the kids of rich parents not allowed to be proud of their successes??

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Mugur A
Mugur A

That is misleading. When you say some venture capital company invested in the start-up it means she sold part of the shares and voting rights as well to those companies. When a selling decision is made it is not Brynn Putnam who "sold" the company. It is a bunch of people looking for an exit strategy so that they can get their cash back with a premium for the investment risk since that is the business of venture capital companies. Also it is not accurate to say "Putnam sold MIRROR for $500 million to Lululemon" because first she did not sell alone only her parts for this amount and also the VC needed to vet and approve this deal as well. Extremely disappointing journalism.

Vor 5 Tage
jwm0z
jwm0z

lululemon never seen a monitor and youtube

Vor 5 Tage
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Vor 5 Tage
Bryan Tran
Bryan Tran

Forms follow function..... don't forget that.

Vor 6 Tage
Lulu Lemonbar
Lulu Lemonbar

This woman deserves praise despite her privileged background. I’m just more inspired by people who become successful without giant safety nets and hallmark style family support.

Vor 6 Tage
Dropnbombs
Dropnbombs

its not about how much money her parents had...its about her getting up and finding a place to rent, then building her brand

Vor 7 Tage
id104335409
id104335409

The only way I can make 5 hundred million is if I invested 1 billion and lost half.

Vor 7 Tage
thedailyvlog
thedailyvlog

4 years learning russian at harvard at 70k a year and cant even speak the language.. what skill but she made 500 mill so what do I know

Vor 8 Tage
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DaGifted ProlificOne

Beautiful success story 🤗

Vor 9 Tage
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Fabian Müller

She definetly looks like the Woman in House of Cards.

Vor 11 Tage
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Minh Duc Pham

so we will have another screen at home?

Vor 11 Tage
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L. De Hertog van Cydonia

If you work for someone like her you should get a rising equity of business deal to get your worth when they sell their start ups for 1/3 to 1.5 billion dollars.

Vor 11 Tage
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Why did she want to open fiftness studios ? and what is refined method mentioned?

Vor 11 Tage
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Memespeech

I assume investors own at least half of the company, so she got maybe half of that.

Vor 11 Tage
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Jack Kensu

He's on Telegram

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P LM

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Vor 13 Tage
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Tushar Ghorpade

She has served something bigger than her own dreams

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Luana Almeida Cr
Luana Almeida Cr

🌷

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Luana Almeida Cr

🌷

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Luana Almeida Cr
Luana Almeida Cr

🌷

Vor 14 Tage
beyondthefuture
beyondthefuture

Wow! This product is basically a reflective tv and she got 500mil for it? There’s really money out there to be made. Incredible

Vor 15 Tage
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Ahmar Syed

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Vor 16 Tage
Antonio Aguilar
Antonio Aguilar

She is right about a third screen and moving from watching to doing, but that screen will be attached to a VR machine

Vor 16 Tage
Bling23
Bling23

I'm working on a Mirror where you will be able to step through it and it will take you to another place of your choosing.

Vor 17 Tage
Char2222
Char2222

I don’t understand everyone downplaying her success because her background... There are tons of people from “well-off” families who don’t end up doing anything substantial with their lives, let alone building a successful business from scratch. Even if given $20,000 interest free as seed funding, only very few will be able to do make something of it. Props to Brynn!

Vor 18 Tage
jalabi99
jalabi99

Agreed. She did something rather remarkable. Props to her!

Vor 15 Tage
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Zuri Hayden

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Vor 18 Tage
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Johnson Paul

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Gleichner Nga

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Vor 18 Tage
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Billy Darryl Stephen

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Avana Aksesories

2:30 tbh at first i thought its ph intro song 😅

Vor 19 Tage
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Dinesh Mascarenhas

Deja Vu.

Vor 20 Tage
Jeremy McGowan
Jeremy McGowan

Incredible story....long long shot....

Vor 21 Tag
yodhanhunter
yodhanhunter

Do you mean ‘How is sold my pyramid scheme’

Vor 21 Tag
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Blaze Cailyn

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Vor 23 Tage
Sorel366
Sorel366

Mirror is such a BS product for upper class & professional women with too much money but the genius is being able to turn this idea into $500 million. The founder is a great business woman.

Vor 24 Tage
B D
B D

She’s good looking

Vor 24 Tage
Rose Tornandizo
Rose Tornandizo

How to get funding for reorganization business.

Vor 24 Tage
MonkeySpecs301
MonkeySpecs301

WOW, this is gonna change the world!!! LOL

Vor 24 Tage
big fella
big fella

this lady aint self made. i take my hat off to sarah blakely cause she is self made with only $1500 bucks in her account when she started

Vor 25 Tage
James S.
James S.

When you come from a well to do family, you can take risks and know full well you can land back on your feet if/when you fail. When you're helping pay for your father's chemo treatments, tuition for your youngest sibling, car payment, and rent you wouldn't risk taking some bs degree or take risks like making a startup.

Vor 25 Tage
Memespeech
Memespeech

@Moha Sumareh probablities are a thing m8 and there are lots of parameters that affect the total, and they aren't static. But you know an asteroid can also fall on your head right now. Also survivor bias, don't just look on the ones succeeding, but also look on how many and how hard have failed, and what was their individual initial million of various stats sliders set to.

Vor 11 Tage
Data Assassin
Data Assassin

@James S. Good point. So there's absolutely no way a person from an upper class background become self-made?

Vor 14 Tage
excalibur
excalibur

@Moha Sumareh and most of them don't

Vor 23 Tage
Moha Sumareh
Moha Sumareh

Many came from those circumstances and still made it happen

Vor 23 Tage
M G
M G

She birthed a human being and secured 3 million in investment funds in the same day. Hats off.

Vor 25 Tage
Go Drive
Go Drive

This product will make kids interested in working out (from home) too. It will also will impact theire future behaviours i really loved it

Vor 25 Tage
Go Drive
Go Drive

7:31

Vor 25 Tage
Go Drive
Go Drive

Anyidea that you think is untapped it also had been tapped earlier😃😂😂😅

Vor 25 Tage
C Chan
C Chan

Looks like she’s exit at the right time

Vor 25 Tage
FOREVER SUNSHINE TV
FOREVER SUNSHINE TV

Power mover. Im beyond inspired 🚀

Vor 26 Tage
Ron
Ron

Doing this during the pandemic is inspiring enough, but what got me is she didn’t let not having the almighty gate keeper of a tech male co founder stop her.

Vor 26 Tage
Relax Tube
Relax Tube

she sound's like Selena Gomez........

Vor 26 Tage
Vero
Vero

500 million !!! she doesnt need to work anymore

Vor 26 Tage
Jai hind
Jai hind

I'm a little sad not because you sold your startup but cuz you sold it to a company named " Lulu lemon " ! Like seriously

Vor 26 Tage
flauntitapp
flauntitapp

So its a fad! Just like that skateboard thing. pushed by celebs

Vor 26 Tage
articulate
articulate

This is great! I hate this move fast and break things culture!

Vor 26 Tage
Bk1gamer
Bk1gamer

She looks like a stereotypical evil villain in a movie. I don’t trust her

Vor 26 Tage
Jaquetta T Ragland
Jaquetta T Ragland

Love her story ❤️

Vor 26 Tage
RT-Viz
RT-Viz

people will buy any crap- go start a business

Vor 27 Tage
DANBO dream
DANBO dream

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Vor 27 Tage
Myra Togonon
Myra Togonon

With proper back-up you can do anything you want.

Vor 27 Tage
TheENofficial
TheENofficial

So she was born rich?

Vor 28 Tage
love2CUsmile
love2CUsmile

Ok, she comes from a wealthy background. It shouldn't take away the fact that she had put a lot of effort and time in her business and made it financially successful. I give credit where it is due.

Vor 28 Tage
Andrea Garcia
Andrea Garcia

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Vor 28 Tage
Johnny TheHandsome
Johnny TheHandsome

Perfect example of how dedication, hard work AND a lot of luck are important to make those huge amounts of money.

Vor 28 Tage
get alot
get alot

The guy should get a good night sleep. 🥱😉

Vor 28 Tage
Adrian Saw
Adrian Saw

Kudos!

Vor 28 Tage
Monkey Journey
Monkey Journey

She is amazing. Congrats 🎈

Vor 28 Tage
King Croc
King Croc

this mirror product is only the first litle wave of it all soon every hosue will be fully technologized. your desks, your tables, your floors will be composed of chips, that whenever you move your weight over, whenever you pick up and put down a glass of water, it picks up that force and generates electricty with it. your entire home will recycle energy, from you, from itself, everything. you will have a central monitor type thing somewhere in your home, in almost every home, and it will be your home's heart, a computer that runs everything, turning on fans, turning on bathtubs, turning on sinks, turning on or off lights, we already see stuff like this, it will only grow. this is a fact. and if i ever get up some cash and have a few mill or whatever. im going to diversify this way

Vor 29 Tage
Zeusasaurus
Zeusasaurus

Rhinoplasty

Vor 29 Tage
Patricia Leftwich
Patricia Leftwich

Love this!!

Vor 29 Tage
RΞMΛL
RΞMΛL

so she sell "michael teeuw" invention to lululemon

Vor 29 Tage
Laila J
Laila J

Wow she is so inspring

Vor 29 Tage
Ja
Ja

She's just so cool to me. She had an innovative idea and she ran with it

Vor Monat
Masooma Hassan
Masooma Hassan

Just wow! So inspiring and motivating!

Vor Monat
Anh Nguyễn
Anh Nguyễn

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Vor Monat
Jake Archer
Jake Archer

Brick and mortice?? Not brick and mortar??

Vor Monat
Jami Steven
Jami Steven

I love when they talk about revenue and dont say what net is. 150m is nothing if your expenses were 149.9m

Vor Monat
Jinsight
Jinsight

Why does this have to be narrated by this random guy, she should have just narrated her life and career herself like the other CNBC videos. Would make it feel less stale

Vor Monat
Lou Mac
Lou Mac

Beautiful, intelligent, and classy woman!

Vor Monat
The De Show
The De Show

as soon as he said, her first memory is dancing with her maid. I'm out.

Vor Monat
Heather Hughes
Heather Hughes

Did he say maid or band?

Vor 27 Tage
naisi
naisi

Nice story, but keep in mind she was able to go to Harvard without accruing a cent of student debt. That is an incredibly privileged position she started out from.

Vor Monat
nighticy
nighticy

@Kay Eh it depends the major, if you're trying to into Harvard law or Business, yes. I don't know how lucrative or competitive Russian Literature is at Harvard and if you looked into their acceptance, there's a lot of controversy. Havard denies some 60% of the top students on the grounds they are asian and they don't won't to overwhelm the school with lack of diversity. There's a few tricks. If you take really easy classes like arts, get As, then study hard for ACT aswell as do a couple extra curriculars it is pretty easy to get into high level schools. I never called the mirror maker dumb but she's nowhere the genius or inventor they try to portray her as. Had idea of subscription gym service at home on a sideways TV, paid other people to make from money she got from other people. Nothing wrong with that, it's hustle, but she didn't revolutionize the world. Lol plus the mirror is kinda a novelty good, $2500 plus $40 a month to watch videos, when there are thousands of free workout videos online, wonder how after covid and the influencer hype dies if this product will make it long term

Vor 22 Tage
Kay
Kay

@nighticy yea...but you still got to be pretty smart to go to harvard...even if you are wealthy.

Vor 22 Tage
nighticy
nighticy

@Watcher 412 I mean she stated in the video her father paid for it all school wise, probably some 50k a year, Havard doesn't give many scholarships especially for those with wealth, that schooling also had basically nothing to do with the project or the skills needed to put into action the idea of the start up. That's when connections and wealth matter giving her a edge, I think most anyone can come up with the idea that Mirror was, a vertical TV with workout cable attached, but to put it into action takes a lot more and money and ears to listen to you. The things connections and privilege provide much of

Vor 28 Tage
Anon Anon
Anon Anon

If this is the takeaway you have from the video, you’ve missed the point of the story. I don’t think she’s trying to portray a rags to riches story. The fact that you’re admitted to Harvard means that you’re in a privileged position since not everyone gets to go there. But despite that, she has used the best of what she has and became an extremely successful entrepreneur. The takeaway of this video is not to replicate what she did, not to envy her luck, but to have a vision and become adaptable.

Vor 28 Tage
Watcher 412
Watcher 412

Losers will always have an excuse. When people who don't have that privilege get it, I don't see them giving it up

Vor 29 Tage
ChopsToChapo
ChopsToChapo

Props to her, but considering her parents let her to go Harvard for a "useless" degree.. she clearly had a leg up from day 1. I'd be surprised if her parents weren't involved with getting that initial 3mil.

Vor Monat
Vitamin Head
Vitamin Head

Wtf this is a dumb idea...lululemon has too much money, her pitch sold me though

Vor Monat
E
E

The hapless plain biophysically collect because bagel postauricularly divide onto a near stone. devilish, rhetorical expansion

Vor Monat
Hayley Wood
Hayley Wood

How I sold my startup: "I am a cis white woman who grew up in new york with a family wealthy enough to send me through ballet school, Harvard, and knew the right people at exactly the right time i.e. "I just got lucky"

Vor Monat
John Carl DeMay
John Carl DeMay

No we’re not in a bubble

Vor Monat

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