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The Entrepreneur Story
No. Founder profile · Class of '09

Lina Ouedraogo.

Three exits over fourteen years. A method built on saying no — and the long interview to prove it.

Location
San Francisco
Sector
The Cover · Issue 47
Operating since
Class of '09
Coverage
0 stories
Lina Ouedraogo
Lina Ouedraogo photographed in San Francisco · Plate 01
Act I

journey

Born in Ouagadougou, raised between Lyon and Oakland. The first company started as a Friday-night side project at Stanford and quietly compounded for eight years before anyone outside her circle could name it.

Act II

struggles

Two near-collapses, both fixable in hindsight. The first: a co-founder breakup that ate eleven months of leadership energy. The second: a 2022 cash crunch where the choice between layoffs and an unfair round was made cleanly — and brutally.

Act III

success

Three exits over fourteen years. $1.4B aggregate transaction value. But ask her and the line is this: the only metric I trust is the number of weekends I still own.

Act IV

lessons

Compounding requires refusal. Most opportunities are taxes on your focus dressed as bets. Build the discipline of the polite no, and the right yeses get easier to spot — and bigger when they arrive.

Track record

Operating roles, in order
2012
Plinth Systems
Acquired · $128M
2016
Atlas Ouedraogo Studio
IPO · NYSE: ATOS
2020
Refusal Capital
Operating · $480M AUM
Now

Operating principles

Three rules · one founder
01

Refusal is a strategy.

Say no twelve times for every yes.

02

Hire the slowest interview you can stand.

Three months. Six conversations.

03

The exit is not the milestone.

The milestone is the team that stays when the cash clears.

Selected coverage