Having sold Grasshopper, the virtual phone service, for $175 million in 2015, David Hauser assessed his priorities. Grasshopper was his third launch and exit, following ReturnPath (email services) and Chargify (subscription management).

“When I sold Grasshopper, I spent a lot of time on myself,” he told me. “I spent time just sitting and thinking and finding my identity, what I care about. I decided to optimize for happiness, not for return on capital or profit.”

Happiness to Hauser includes helping other entrepreneurs. He’s now an investor, having formed Repeat Capital Partners, which acquires up-and-coming brands across multiple industries. He and I recently discussed his journey, from selling Grasshopper to, now, building a holding company of acquired businesses.

Our entire audio conversation is embedded below. The transcript that follows is edited for length and clarity.

Eric Bandholz: You’re an accomplished entrepreneur. Tell us about your…



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