15
10 Comments

How my Startup Got Acquired

Hey everyone! My first startup got Acquired a couple of months ago. I wanted to share as much of the story that I could. So here is a 6 minute video doing just that:
https://www.youtube.com/watch?v=HvC_lDY3vag

Here is the timeline:

  • Started ‪http://coffeepass.io‬ with by buddy from college early 2018.
  • Nights and weekends for 6 months
  • Part time for 9 months
  • Raised seed money
  • Full time for 9 months
  • Paid off investors
  • Pushed to the back burner
  • Negotiated with buyer for 9 months
  • Sold shortly after Covid

I hope it is encouraging and helpful to you in some way! You can have an outcome like this as

on November 11, 2020
  1. 4

    "After Covid" sounds like 2022. ;)

  2. 2

    Nice project, cheers

  3. 2

    Thanks for sharing! What's your next project?

    1. 1

      Currently supportman.io. and then I'm going to be starting on another micro-saas soon.

  4. 2

    Absolutely love the video. Congratz!

  5. 2

    This comment was deleted 6 years ago

    1. 2

      We wanted to take care of people that invested in the business before we took any money. I guess we didn't technically have to pay them back but it was a friends and family round and it was the best thing to do.

      1. 2

        This comment was deleted 6 years ago

  6. 3

    This comment was deleted 4 years ago

    1. 1

      Well our business model was that we charged coffee shops 8% of each transaction that went through the platform. 4.4% of that when to Stripe processing fees. so profit was 3.6% of each transaction.