Received offer to potentially buy BirdSend

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2

congrats. That could be interested to know why you declined the offer ?!

Tim12

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5 years ago
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  Apart from self-fulfillment for doing the work (I love what I do), I don't know what I'd do if I sell it. The other reason is to prove to myself that I can build a successful business :)
  
  Welly Mulia
  
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  5 years ago
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Good on you for declining. I concur. Depending on your goals, you should skip these kinds of offers and hold out for something strategic.

I get these kinds of emails regularly for StatusGator and decline them routinely. Even at $13,000 MRR, the amount of money I'd get from of these routine SaaS-buying companies pales in comparison to the long term potential value I see here. Ultimately, my goal is to create an income stream that exceeds my consulting revenue so I can stop trading time for dollars. And we're still a long way off from that.

If I get someone who wants to make a strategic acquisition, like a larger company that might offer something like a 10x to 20x multiplier rather than a 3x multiplier, then I might bite. But there's just way too much work to be done to keep growing.

Congrats on the validation!

cbartlett

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5 years ago
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  Thanks for your sharing! 13k MRR is great and I'm sure you'll be able to far outgrow your consulting revenue!
  
  Welly Mulia
  
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  5 years ago
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Congrats. And well done for declining the offer and seeing where you can take BirdSend. Good luck 🙂

Checkify

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5 years ago
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  Thank you for your support, Louise! 🙏
  
  Welly Mulia
  
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  5 years ago
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12

This comment was deleted 4 years ago

DeletedUser

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5 years ago
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  How do you know it's not a genuine offer? I replied to him with a "thanks not interested", and if he wants to start a convo, he would have replied.
  
  I also googled his company and it is a company that buys small businesses.
  
  Welly Mulia
  
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  5 years ago
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    This comment was deleted 4 years ago
    
    DeletedUser
    
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    5 years ago
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      Of course they need to dig deeper into our financial accounts to validate the revenue, etc.
      
      And yes, that's an invitation to start a convo to potentially buy my business. A cold email is more likely to get a response when the writer makes it easy for the reader to respond.
      
      My original post is to share that I've been approached by a company potentially wanting to buy BirdSend.
      
      Are you suggesting that I should reword the title?
      
      Welly Mulia
      
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      5 years ago
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        This comment was deleted 4 years ago
        
        DeletedUser
        
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        5 years ago
        
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        To buy a business, it all starts with a convo. So yes the person initiated a convo, with a purchase intent, though it may not materialize.
        
        I have changed the title to include the word "potentially".
        
        Welly Mulia
        
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        5 years ago
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  100% agree and I'm in the same place. This is not an offer but is a great and well-crafted intro email, with enough in there to start a (good) conversation. They have included some example prices, explained the have done this multiple times - all indicators that they are the kind of people to speak with. Frankly, I think it's worth continuing the conversation.
  
  My own experience is 6-10x on ARR is possible at the moment also. I know, as I did one last year at that range and 7 figures ARR. Not all of it was mine, as I had business partners. It may be that you want to grow larger before selling though, as if you are doing under 7 figures it becomes far less attractive
  
  adeinov
  
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  5 years ago
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