Earler this week, I sold 3 products to a PE firm based in San Francisco.
On Feb 22nd at midnight, the Bay Area PE firm reached out via email.
Well, it wasn't "the firm", but the founder of the firm.
And, it wasn't really much a "firm" because he started it a few months ago.
But, he was an impressive dude. Fun fact: a few years ago, he sold his content business to Tencent for $2M, at 18 years old!
In his email, he shared his vision for building an ecosystem of PM education products. Products that would help upcoming PMs advance in their careers.
It's a vision that resonated with me because...I'm a new PM starting out in my career.
And with those 3 products, I was unknowingly already building that ecosystem.
But unfortunately, I was not maintaining them very well.
With my last semester of college, my job, and other projects dividing my time, I've been doing the bare minimum to grow them.
And, I've been working on them alone which makes it worse because I didn't have anyone to feel accountable to.
So, bringing on a partner to help grow these products to their full potential felt like a great idea.
the acquisition papers were signed 🎉
The 3 products were combined into 1 business. And, I sold 51% of that.
The vision is an ecosystem of PM education products. And my new partner wants to get us to 10k MRR and beyond.
Having a partner will definitely help. Being a solopreneur is cool and all, but it's hard fighting dragons on your own.
We'll be creating consistent content for the newsletter and the interview series. And we're going to give Product Checklist a makeover. We'll also release more products and services relating to PM education down the line.
The future is looking pretty awesome, can't wait for what's next :)
(📌 Btw, I learned a few things from the whole acquisition experience. For the sake of keeping this post short, I turned it into another IH post. You can find it here 👉 5 lessons I learned from selling my 1st business )
Why give up 51%?
Here's my answer to that question.
Happy to answer anymore Q's in the comments. Thanks for reading! 🙏