Business for Sale July 9, 2020

How to approach selling of bootstrapped company?

Paweł Komarnicki @pawel_cubitoo

I cofounded a company (have 40%) but I’d like to sell my share — how would you approach this? Asking around, are there websites that help with that?

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    Hi Pawel, it depends on how your business is structured and what role you have in the company. Normally, first option is given to other co-founder(s), if they want to buy your 40% shares. Secondly, I am sure the co-founder wants to make sure someone with the same skills is replacing you. Also, there has to be a good chemistry between the 60% owner(s) and new 40% buyer.

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      It’s a German limited liability company with just joint ownership (the other founder is CEO). Thank you for the insight, I don’t think they will want to buy my share that much, as an alternative I can step down as a “cofounder” and remain as a shareholder because that is the primary contract we have.

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        Yes, that is one option. Or, sell the entire company.

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          That would be optimal although it won’t be easy because it’s an early stage company and doesn’t have much revenue if any 😁