WineInStyle

Eberhart should sell the business as soon as possible. It's been a ~9 year climb to $4.1M in revenue, so is still a relatively small business with no meaningful macro tailwinds (beyond what the company has been capitalizing on for years) to accelerate growth beyond the ~20% CAGR the business is growing at today; further, the business doesn't seem to have carved out a true differentiated moat or value prop, and, given the details of the case, will continue to face intense competition from relatively undifferentiated competitors - meaning potential margin compression, especially since the business likely isn't going to achieve economies of scale anytime soon. Also, Eberhart's equity stake will likely face further dilution if the business is to pursue additional venture funding (it's not clear to me why the business was venture-backed in the first place). Lastly, Eberhart's heart and focus no longer seems to be in the business or in Japan - and yes, while he should leave the business in "good hands", Eberhart's focus should be on the business' long-term survival by finding its 23 employees a home in an organization that can mitigate the issue of WineInStyle's continued cash troubles.