ValoreBooks sells used textbooks. Textbook publishers sell new textbooks. The publishers sued ValoreBooks. Bobby Brannigan, their CEO, decided to fight. In retrospect – he suggests attempting to settle would have saved a lot of time, money and stress.
I launched ValoreBooks, an online marketplace for textbooks, with 12 college friends. We devoted years to building the company and went heavily into debt. Then, just as we were poised to become profitable, our biggest competitors hit us with a lawsuit that threatened to destroy us.
We either had to fight it or give in. We decided to fight — and fight hard — but in retrospect, I think it would have been better if we had surrendered.