Tweet that the app is for sale and take a fast close over top price

HostSo you sold Praycreen. Just tell us the story of of how you did this.

LottsI think Praycreen first launched December 2024. And then we were able to scale it quickly using obviously UGC on TikTok, and we found like a hook that that really worked out for us. I think we were running it for like 5, 6 months, got it to like 120k ARR. And then we just basically tweeted about it. And because I've sold multiple things before, like the tweet did numbers. And I think because it was just such an easy app to understand, right? It's just kind of like, hey, we block your apps, you then pray to unlock your apps. Had a few buyers DM us, and the buyer that we actually end up selling to was someone that wanted to acquire BibleBuddy like 2 years ago. We closed within like 1 week. So that was pretty sick.

HostThat's awesome. Can you tell the story of how you grew it?

Host… "Oh, I'm making 10k a month! Oh, I'm making 100k a month!" And then people think of that as like, "Okay, well, if I take home 50% of that after tax, like, okay, now I'm earning 50k a month in my bank account." But then they don't think, "Okay, well but what if you multiply that by 12 months, and then multiply that by exit multiple? You get a ton of cash upfront." So, I guess I'm curious, what are any like benchmarks that you've seen for exits?

LottsI've seen numbers all over the place, right? I've seen like 2x to 6x. That's uh the spread I've seen of ARR, generally. And what I always tell people is like, before you build anything, ask yourself, "Am I building this for cash flow, or am I building this as my life legacy?" Number two, when it comes to exiting, people who are so obsessed with trying to get the highest price ever, and I'm just like, "Bro, most deals fall through, like 90% plus." I would rather take like the third highest price if they can be like, "Yo, we can close the deal within the next 4, 5 days." So that's kind of like my advice.

HostThe other thing is it has to be a good app. You know, like the there needs to be a reason for the buyer to to want to acquire the app, to see some growth potential.

Host… that the seller, you see the growth potential, but you're just interested in other things. Like you want to do creator tech, or you want to build a mobile game. Like there's just other things that, you know, you've lost passion for this specific app, or you just don't care enough to like really invest all your energy into it. So from their perspective, it's just like a win-win, like, "Hey, I'm going to actually make some more money with this."

LottsExactly, exactly. And I think if you offer them stuff like, you know, a month or 2 months of like, you know, transitionary period, it will be help sweeten the deal.

HostRight, some advising, yeah. This was super value-packed. Thanks for thanks for hopping on.