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About two years ago, I met Doug from Upstart Inc, a small company with around $5 million in sales and promising technology, but inefficient sales and distribution. In contrast, a larger company with $300 million in sales had excellent sales and distribution but lacked technology. Recognizing the synergies, we formed a partnership. During our meeting, we quickly established a joint marketing agreement and signed a Memorandum of Understanding, which worked well for the first six months. Subsequently, Doug drafted a more formal contract, which we signed without legal review to maintain momentum. We invested about $1 million in distribution, marketing, and branding, leading to significant progress.
