The Surprising Truth About Who Will Buy Your Company
August 24, 2016 |
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In 1999, Andrew Weinreich sold Six Degrees for $125 million. In the following years, he went on to sell three other companies including one to IBM and another to Match.com. In this episode you will learn his secrets to exiting big.
In 1999, Andrew Weinreich sold Six Degrees, a social networking site based on the same idea that sparked the likes of LinkedIn and Facebook, for $125 million. In the following years, he went on to sell three other companies including one to IBM and another to Match.com.
Most founders are lucky to have one successful exit, but Weinreich has already had four. In this interview, you’ll learn:
- The common denominator among all four of Weinreich’s exits.
- Where to find the company with the highest probability of acquiring you.
- How to hire an M&A professional for a “Dual Track” mandate.
- The mistake most entrepreneurs make when they assemble a board.
- The simple technique Weinreich used to let buyers know he was interested in being acquired (without sounding desperate).
We’ve now had 24,000 business owners leverage The Value Builder System™ to improve the value of their company. We have a 12-step process we take business owners through, and one of the most common misconceptions people have when they start our process is that they will sell their business to a stranger. That’s a misconception we work hard to erase because, in our experience, you’re much more likely to sell to someone you already know. Uncovering your Short List of potential acquirers is something we’ll do during Module 11 of The Value Builder System – get started for free by getting your Value Builder Score.
Our guest
Andrew Weinreich is a serial entrepreneur, social networking pioneer, and active presence in NYC’s Silicon Alley for 2 decades. To date, he’s founded 7 startups and has been awarded 2 software patents. Recently, he has sold 2 businesses, including Xtify to IBM in October 2013, while advising 5 tech startups. He is currently the co-founder and Chairman of Indicative, a data analytics startup. He is also the founder of Andrew’s Roadmaps, the premier educational platform for startup founders.Related to this topic
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David Trewern grew DT to $10 million in annual revenue before he sold it to STW Group for almost 10 times profit after tax, getting maximum value for his business because he started to look at the world through the eyes of his would-be acquirer.
Yvonne Tocquigny built her advertising agency up over 35 years working with clients like Jeep and Dell. Then in 2015, she got a call asking if she would consider selling. The problem was that her agency had become part of who she was.
Back in 2011, Nathan Latka started Heyo, a social media company that helped businesses advertise on Facebook. By 2016, Heyo had raised $2.5 million in seed and venture capital financing and, by all accounts, it was a successful business.
