‘Better rather than bitter’: Booktopia founder defends his legacy after sacking

The first piece was an investigation into the group’s troubled 18 months as a listed company and how Booktopia had fallen out of favour with institutional investors. At the time of that piece, Booktopia’s market capitalisation had tumbled from around $400 million to just $24 million.

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A second piece, which revealed Nash’s reaction to the piece on LinkedIn, including his response to The Age and Herald investigation that had referred to Booktopia as a “villain” in the eyes of investors.

“I don’t like being the villain in the investment community. There’s nothing fabulous about that.” Nash told his connections on the social media platform.

The sources said Nash’s post had riled the board which had already agreed to a communications strategy in regards to questions about the group’s performance.

Nash is expected to remain a director of the company. He also retains a 14 per cent stake in the firm.

Booktopia’s shares rallied on Friday, rising 6 per cent to 33 cents. It shares also rose 6 per cent on Thursday, when Nash’s sacking was announced. Booktopia is also conducting a review of its business, including a cost reduction program that has also included a round of redundancies across the business.

Nash’s new LinkedIn post this week acknowledged the support he had received following the board’s announcement on Thursday.

“RUOK? Thank you to everyone from far and wide who has messaged me… I am OK. I really am OK.”

“Actually I’m feeling pretty awesome, relaxed and excited about the future.”

Nash, who is active on the public speaking circuit, said he would be adding a new slide to his presentation for his keynote speech. “I have a new slide Bitter V Better. Our choice. I choose to be Better rather than Bitter.”

He signed off: “Entrepreneurs rock!”

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