We got acquired!
by Bill HamwayThe photo booth software world is filled with slow, unreliable software so I was super pumped when we found Flassh! I love how easy they made it to create and run events, then instantly share photos.
So I've been a super fan of Flassh for a couple of years. I built my relationship with the previous owner/developer by sharing UX/Product feedback. He always was happy to listen and develop what made sense.
About 12 months ago I propositioned him to see if he was interested in selling Flassh. After some light conversation and due diligence questions – he decided he wanted to give it a little more time so he could try to acquire new customers.
Fast forward 9 months – I get an email from him asking if I'm still interested in the acquisition. I had just invested into a new software business, but hey – I'm all about pushing ourselves so I said YES to the conversation.
March 20: We chat through the details, due diligence questions, and just get to know each other as humans better. (you've got to trust each other)
Lapse in time as I'm focused on the new software investment.
Finally decide... "F*** it. I'm doing it!"
May 10: Call to make the first offer. James makes a counter offer.
May 15: Follow up offer. ACCEPTED!!!
Purchase agreement, deal terms, etc.
May 21: Acquisition finalized!
Software is an interesting asset to transfer since it's purely the exchange of AWS, GitHub, and all the other services used to operate the business.
It's been a fun ride so far and I'm excited to help people all over the world capture and create unforgettable memories with photos!
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Congrats! Lovely idea.
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Thanks so much! I always love hearing candid feedback, so any ideas you have to improve Flassh – send them my way!
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Congrats! Can you share anything about the acquisition?
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Howdy @rosiesherry! Sure thing, what are you most curious about? :)
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It's always nice to know...
- why you sold
- how you found a buyer
- what the process was like
- are you able to share what you got, or are you happy with the outcome.
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1
The photo booth software world is filled with slow, unreliable software so I was super pumped when we found Flassh! I love how easy they made it to create and run events, then instantly share photos.
So I've been a super fan of Flassh for a couple of years. I built my relationship with the previous owner/developer by sharing UX/Product feedback. He always was happy to listen and develop what made sense.
About 12 months ago I propositioned him to see if he was interested in selling Flassh. After some light conversation and due diligence questions – he decided he wanted to give it a little more time so he could try to acquire new customers.
Fast forward 9 months – I get an email from him asking if I'm still interested in the acquisition. I had just invested into a new software business, but hey – I'm all about pushing ourselves so I said YES to the conversation.
March 20: We chat through the details, due diligence questions, and just get to know each other as humans better. (you've got to trust each other)
Lapse in time as I'm focused on the new software investment.
Finally decide... "F*** it. I'm doing it!"
May 10: Call to make the first offer. James makes a counter offer.
May 15: Follow up offer. ACCEPTED!!!
Purchase agreement, deal terms, etc.
May 21: Acquisition finalized!
Software is an interesting asset to transfer since it's purely the exchange of AWS, GitHub, and all the other services used to operate the business.
It's been a fun ride so far and I'm excited to help people all over the world capture and create unforgettable memories with photos!
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2
Ah interesting. We did a photo booth at one of our conferences, it was so much fun, I love the photos that were made, but expensive especially compared to Flassh's pricing, it also had pretty crappy props.
I could see our team using this, I will pass it on (it's not my decision to make anymore!)
Might be worth checking out CFP by @karlhughes - tech conferences could use this kind of stuff :)
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Yes, photo booths are a great way to easily engage people at conferences and give them a (photo) memory to remember it with!
My other company, Mammoth uses Flassh to give conference/workshop attendees professional headshots, instantly. People love it!
Example: https://www.instagram.com/p/ByLLsLoFiVk/
If you/your team have any questions, have them shoot me an email: [email protected]
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He is the buyer
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Ah, yes, lol :D
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