Wednesday, August 28, 2013

Toast - My first startup exit

IP and assets of my first venture (xbrlware/bitstat) have been acquired by Frankfurt, Germany based financial services company, about a month ago. The acquisition process went smooth.

The acquisition brings logical end to my first venture. During our time in this venture,

  • We raised seed fund.
  • Assembled core team and created the product.
  • Generated revenue.
  • Acquired customers globally.
  • Acquisition of IP/assets by another company.

Toast time. 

Prior to acquisition, we were able to generate revenue from our product, but we couldn't grow at a pace that we had hoped for. Since then, we have started focusing on other opportunities.

Over last couple of years, have received four acquisition offer for our product/company. The first acquisition offer that we received was at early stage of our venture. At that time we were very hopeful of  our product future and turn the acquisition offer down without even considering it. If I look back now, our first acquisition offer looks very attractive (time window to revive that offer has gone).