October 3, 2017

Selling My Bootstrapped SaaS Business

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    Congrats man, and thanks for all the insights!

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    Where would somebody interested look to buy a business like yours?

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      If you're looking to buy, I would start by connecting with a broker (Have heard good things about FE International). Otherwise, there isn't really a system. Go to conferences, email people...

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      thats the million dollar question

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      Hi Rasiel. Having built and sold a couple of digital businesses myself I am just establishing my brokerage. Drop me a line here with what you're looking for and we may be able to assist http://pixelpaycheques.com/

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      I also suggest FE international but be prepared to be vetted as a serious buyer to get more info on the businesses listed

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    Awesome and congrats! Following the storemapper journey for quite some time and this article is super informative. All the best for your challenges at MAPTIA.

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      Thank you!

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    Nice one! Congratulations!! I think this is one of the most comprehensive descriptions of a business sale that I've seen in a while. Thanks for sharing!

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    Congrats Tyler & thanks for being so transparent!

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    Congrats man, love the radical transparency angle and hope more people shift towards that. Did you feel any responsiblity to your employees or your business to do it without brokers?

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      Cheers. Check out https://baremetrics.com/open for other transparent startups. I don't understand the question re: brokers.

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        I just meant did you feel it had to be something that you personally vetted buyers rather than hand it off to somebody else. Brokers seem impersonal, so did it come down to metrics or loyalty to business/employees that helped you make that decision.

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    Congrats! I have heard your story on a couple of podcasts and it is a great one. Glad to hear it worked out so well.

    I have never heard of the "Tarzan approach" but I like it. I will definitely check out your book. Thanks for sharing.

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    Congrats, thanks for sharing!

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      Thanks Mubs!

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    How much software development experience did you have before developing StoreMapper?

    Did you develop the first version using TDD?

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      Haha, no. I am a lazy developer and skipped all the tests in the beginning. I added some tests later but Storemapper didn't get a full test suite until Taufiq joined.

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        I would'nt call it lazy, I've noticed a lot of successful one man startups do this in the beginning.

        I'm guessing setting up a test suite and spending time writing tests before validating an idea can block you from launching quickly.

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          I think I would agree with this. TDD is great when you have a team or a complex product, but probably overkill for MVP

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    Congrats Tyler, and thanks for sharing. Wish you the best on your next project(s)

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    If you are considering to sell - when should you post the add ?

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    great post and congrats! - just curious how much did you sell for?

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    Hi Tyler. You mentioned the key driver for selling the business was financial to allow diversification. Out of interest would you have considered a deal where you perhaps sold a portion of the business - say 60% - but retained an interest. Allowing you to take money of the table but still have an income. Would this type of arrangement have appealed if it had been presented. Just curious! Great article - some invaluable advice in there.

    I've just launched www.pixelpaycheques.com so very relevant.

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    Great read, thanks!

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    Congrats!! I loved your podcast episode and look forward to hearing about your next venture!!

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      Thanks! Check out https://maptia.com/subscribe to follow it :)

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    How did you maintain secrecy while working with the remote team? And more importantly, how did you make sure that remote team won't copy your entire code and deploy it somewhere else with little tweaking and make it his own?

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      Good question. There was really nothing technically stopping my team from stealing the codebase and starting a competitor. You just have to hire very carefully and treat your employees well. Make them feel like a part of the team. Run the business with enough financial slack that you can pay competitively.

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        Also, my 2 cents. Your business is so much more than just the code. The code is such a small fraction of a successful business... In your case, SEO reputation, word of mouth reputation etc. So copying the code is not something I would worry about in most cases.

        (awesome blogpost by the way! Love your content, and this one is no exception!)

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          Yea, completely agree. You should think about it a bit, but your employees stealing your code is pretty far down the list of things to be worrying about :)