How Alex Macdonald Sold Velocity Black to Capital One for a Reported $297 Million

Posted on August 2, 2023

Alex Macdonald co-founded the international digital concierge business Velocity Black in 2014. Unlike the generic concierge services offered by some credit cards, Velocity Black uses cutting-edge tools and industry experts to provide a custom experience across multiple verticals, including travel, entertainment, retail, and dining.

Capital One reportedly paid $297 million to acquire Velocity Black in 2022 after the company's growth to $30 million in net revenue piqued the interest of numerous possible buyers. The skills you'll acquire in this segment include:

Beat the big businesses at their own game.

  • Get and keep wealthy people on board.
  • Get your business ready for when you've finished raising money.
  • Don't make a multi-million-dollar error when trying to raise money. 
  • Gain the respect and confidence of possible buyers or investors.
  • How to deal with business partners who seek exclusive dealings (without giving in) 

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