10 Times That Companies Turned Down Major Successes
It is easy to spot business mistakes that companies have made in hindsight as you have the benefit of knowing exactly what the consequences of a decision were. However, at the time it can be incredibly difficult to predict just how successful an idea or product will be in the future. This obviously means that some people will turn down things that go on to be huge successes without realizing what a bad decision they have made. Here are some of the biggest mistakes some companies have ever made.
Everyone Turned Down Harry Potter
JK Rowling has revealed that she received rejection letters from 12 separate publishers before Bloomsbury eventually agreed to print the first book. The first novels spawned a franchise that has sold hundreds of millions of copies and a hugely successful series of movies.
Yahoo Backed Out Of Facebook Deal
According to reports, Yahoo! and Mark Zuckerberg were in advanced negotiations over the sale of social media site Facebook to the internet company in 2006. The deal was initially set at just $1 billion, though Yahoo! soon began to back out of the agreement and tried to lower the price significantly. This led to Zuckerberg going off the idea and instead deciding to keep control.