Derek Sivers sold CD Baby for $22 million dollars and decided to do something interesting with the money.
As an independent musician, Derek Sivers was blocked from selling his music through mainstream distribution channels, so he decided to start a company that would give his band, and other artists like him, a way to sell their music online.
The business grew as Sivers entered into distribution deals with iTunes and Amazon.
Ten years later, Sivers sold CD Baby for a cool $22 million dollars – and you’ll never believe what he did with the money.