One of her businesses was eventually sold to payment giant PayPal for $400 million.
This story requires our BI Prime membership. To read the full article,MIT-educated engineer Lisa Shields became an"accidental entrepreneur" when she founded digital wallet company Hyperwallet following the dotcom crash.
In the early 2000s, Shield — an MIT-educated software engineer from Canada — co-founded a digital wallet technology company, Hyperwallet. The business was beset by the difficulties you might expect for a first time founder, with funding hard to come by in the midst of the dotcom crash. However, after a"bootstrapped" first eight years, by 2009 Hyperwallet was profitable and things were looking up. Shield's involvement in the company lessened after a private equity exit in 2014, but she stayed on as a board member as the business was sold on to payment giant PayPal in 2016 for $400 million.
"If you'd asked me before, I would have said run and hide do not start a tech company," she said."But when you assess things in retrospect, you tend to gloss over the dark times and actually sustained hardship can be really beneficial."
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