Make sure to start with Part 1 of the Reza Satchu story here: Reza Satchu: Kevin O'Leary with hair and Part 2 That time I called Reza Satchu's mom.
Here's a part of the Reza Satchu story that you will never learn from the official profiles. The time he spent in a small town in Nevada. In mid-August 2000, Reza Satchu, his brother Asif and SupplierMarket CEO Jonathan each closed on a relatively modest property in Incline Village on the Nevada side of Lake Tahoe. Days later, their sale of SupplierMarket to Ariba for "almost $1 billion" would close. Reza’s home cost $427k. Why would three East Coast twenty-somethings about to close on the deal of their life want property in a place with a population of a few thousand people? Weren’t they going to be important executives at Ariba, which is based 4 hours away in Palo Alto? There could be all kinds of reasons for wanting a home in Incline Village - it’s a beautiful place. Maybe the Satchus had an aunt living there they are close to. But if you held a gun to my head, I would point out that liquidity events eventually attract taxes. Even for Reza, who held the smallest stake, on paper that was valued around $15 million at the time of closing. Their acquirer was based in California, a notoriously high tax jurisdiction. Neighbouring Nevada has no state income taxes. Incline Village is right on the border between the two states. The Wikipedia entry for Incline Village mentions that the town is viewed as a tax haven. Reza would sell the property within two years and Asif would sell within three years. Maybe their aunt passed away, I don't know. I would be curious to know how much time limelight-loving Reza spent in Incline Village.
