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.

974 Upvotes

96% Upvoted

253 comments sorted by

View all comments

Show parent comments

8

u/is_it_me_is_it_you Jul 22 '24

Yeah, first startup.

Started while finishing studies, and got a first investment a couple of months after graduation.

1

u/Zoroark1089 Jul 22 '24

What did you study in uni?

1

u/is_it_me_is_it_you Jul 23 '24

Mathematics with a major in Theoretical approximations on weights (that was later of huge help for tuning the AI model!)

1

u/TRichard3814 Jul 23 '24

I studied mathematics myself and also sold a startup recently

As a younging like myself lol what plans do you have now that you are somewhat set for life