GTM Sauce

Citesure · B2C · fake citation checker for students

Answer a big startup's creator DM by offering to sell them your app

CEO call the next day; acqui-hire closed 4-5 months later

Workedexit-ma

What they did

Citesure solved a narrow slice (fake citations) of the problem Jenni AI solves, so Jenni understood it instantly. Jenni's account DMed the Citesure Instagram (which showed clips of a friend) to recruit the 'creator'; Matt replied with an eyes emoji offering 'one better' if they wanted an acquisition, saying Jenni had been an inspiration. The CEO offered a call right away; they spoke the next day and he made a first offer on that call. Closing took 4-5 months of lawyers and UK tax work. Advice: pick the acquirer on the founder and culture you'd learn from, not the product.

What happened

Acquired by Jenni AI (an acqui-hire); Matt now runs Jenni's UGC program.
Stage
Exit
Effort
4-5 months from first DM to close

In their words

Matt Gittleson - Our app makes $750k/mo thanks to this UGC strategy

Play from 44:26

Matt… bit like fate, and I think part of that though was how I was acquired. It was completely It was through Instagram DM. They didn't DM about acquiring, it was about something completely different, and it was the most unserious way an acquisition conversation has ever started. Um, so that made it feel a bit like fate. I think the interesting thing is Jenni's product, so it's AI that writes essays with you rather than writing the essay for you, and

44:26

Mattthey'd already solved fake citations, so they didn't acquire this really in any way based for product. It was essentially in the end an acqui-hire. But it definitely resonated. It's a problem that they understand. I've drilled down, exactly like you say, on a really specific element of it that they a problem they really understand, a solution they understand, and it makes it much easier to have that conversation. Um, would I recommend it? A 100%. I I'm sure I'm biased by my opinion, and I think the most important thing is the culture of the startup that would be buying you.

44:56

MattSo, it's kind of weird that I almost in some ways became an entrepreneur and a founder so that I wouldn't have to work as an employee, and then really soon after that became an employee again. It really is just testament both to the Jenni team and product, but for me, a massive part of it was David, and it's the amount I've developed because of him personally is extraordinary. And I'm a big believer in people. Really really big believer in the …

Matt… some ways. It's, um, as kind of a young, reasonably up to that point scrappy founder, you've suddenly got to go through this process that you just have to respect timelines of. You'd like It's you really want to move as fast as you can, but there are just you have to go through lawyers, and you have to make sure everything is in place. You have to go through the UK tax system in in my case, um, and it takes up a a reasonable amount of time. Um,

55:31

Mattso it wasn't the easiest process, but incredibly worth it. And and, yeah, it was On on that very first call when we spoke, David kind of made the first offer, which was different in February, but, um, that's another good thing about being action-oriented, is I got on that I got off that call and I was like, I want to work with this guy. I just could just Great founders and great people, you don't need 10 rounds of calls to know if you want to work with them or if they're inspirational or motivating, you can just tell. Um, and it was it was really obvious.

55:36

JosephYeah.

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Tags: instagram, acqui-hire, niche-down, cold-dm