In 2014, after more than five years as a tastemaker for luxury watches, Hodinkee CEO Benjamin Clymer had an important decision to make.
Was it time to sell?
A magazine publishing company based in New York had offered to buy his startup—a blog for watch aficionados—for up to $20 million. Mr. Clymer was conflicted, so he turned to a friend: Tony Fadell, co-founder of smart thermostat maker Nest Labs, who had just sold the company to Google for $3.2 billion.
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