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How does one get a buyout offer in the first place?
by dabent 17y ago
How does one get a buyout offer in the first place?
- joshu 17y agoWhy is this being downvoted? It's a good question that I'd like to hear good answers to. In my case, we'd been approached.
- dabent 17y agoIf you don't mind sharing, what led to the approach? Did they read about you in the news or a blog, see an ad somewhere? Guy Kawasaki wrote "The Art of the Start," but I think there's a need for an "Art of the Exit" as well.
- joshu 17y agoWe were getting a ton of press. We had reached out a bit to look for a search or technology partner (vivisimo and microsoft) and Yahoo reached out. However, we already had an investment banker (Quincy Smith) who was able to talk to people on our behalf.
- medianama 17y agoApproach potential buyer for something else like partnership or strategic investments, etc
- abscondment 17y agoI think there are two key components: * Build something that someone will want to buy. Something awesome that solves a real problem elegantly, that's proven itself by garnering users, and that would fit well in an acquirer's business. * Closely related to that: don't be a giant, money burning machine. Really cool ideas (i.e. unlimited free music) are often implemented with intractable business plans. Being far from profitable will make any buyer think twice about you.
- dabent 17y agoWell, to be honest, I'm working with someone who's got both of those. It's a profitable business. The founder is just looking for a sale at this point. He's actually ready to build another startup, so he wants to sell his current one, now that's it's doing well.