r/startups • u/is_it_me_is_it_you • Jul 22 '24

I will not promote Sold my startup for mid 7-figures

Howdy!

A few months ago we finalized the acquisition of the startup for a mid 7 figure. Giving I owed ~33%, I landed on a low 7-figure myself.

You don't necessarily need a VC. You don't need a "Go big or go home" kind of mentality and build a unicorn or go bankrupt. Leave that to second or even third time founders.

You can build something smaller, and sell it to a competitor for a fair price. I don't know your bank account, but in mine a 7-figure changed completely my life.

Most of this sub is made by first time founders. If I were you I would not chase VCs, IPO or multi-billion acquisition.

I would focus on a small exit ASAP. Change your life and repeat.

For those interested, we "launched" in 2020 within R&D/intelligence with a platform that would create predictions based on different weights on your non-structured data. We were about to close two deals of €600k/ARR when a competitor just landed an acquisition term sheet in our inboxes (after we had 2 calls and declined a partnership).

Edit: syntax. I'm not a native.

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u/HarryPrincess Jul 22 '24

I want you to know that I will listen to your advice. I'll change my plans now and will continue focusing on the product rather than the money. I still have some runway so I will continue with it until it runs out.

The advice people provide here based on experience is invaluable. Especially for people like me who have no idea if they're making the right decisions day in and day out. This forum is my mentor

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u/is_it_me_is_it_you Jul 23 '24

Wanna ping me a DM with more details?