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
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How do I find these first 5-10 members?
"After Covid" sounds like 2022. ;)
Haha
congrats!
Nice project, cheers
Thanks for sharing! What's your next project?
Currently supportman.io. and then I'm going to be starting on another micro-saas soon.
Absolutely love the video. Congratz!
Thanks!
This comment was deleted 5 years ago.
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.
This comment was deleted 5 years ago.
This comment was deleted 3 years ago.
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.