GTM Sauce

TaskMagic · B2B · browser automation software

Talk to brokers, then list the company on Acquire.com to find a buyer

100+ buyers messaged; sold for mid-to-upper seven figures after 6-7 painful months

Workedexit-ma

What they did

Decided to explore a sale at a peak, right after making the Inc. 500 list, with a personal goal of exiting before 38. Talked to a couple of brokers, who made introductions, and listed on the Acquire.com marketplace. Bought out investors first, which drained both business and personal bank accounts; covered bills with $50K on an Amex card and $200K more in personal debt during a 6-7 month process.

What happened

Over 100 people messaged about the listing; sold for mid-to-upper seven figures. Jeremy calls the process very stressful and says it took him to a dark place.
Stage
exit
Effort
6-7 month sale process

In their words

I Spent 24 Hours With A SaaS Millionaire

Play from 11:36
11:20

Pat WallsThank you. And it was a crazy process of ups and downs and roller coaster. So I'd love to hear your perspective. Obviously, you're on the other side now and it's been amazing, but what was that process like for you? Walk me through the emotions and the process.

11:36

Jeremy RedmanIt was all amazing and great at the end, but you're kind of like still shocked or coming out of like the sales coma, I would always I think about it as. But the way mine happened with, "I want to sell." "Who would you sell to?" "No idea. But I want to exit a company before I turn 38." And you have a daughter, you have a young kid, and the mortgage on our house is like $9,000. So I was like, "It's probably a good time to sell." So I talked to a couple brokers. They introduced me to people. We put it on the Acquire.com marketplace. Then over 100 people were messaging me about it. Then we had bought out investors for what I thought we could. That depleted the bank account, both personally and for the business. And we had next to no money, and I put 50 grand on my Amex Platinum card. I went 200 grand more in personal debt through this to pay my bills. So people who want to judge on like a, "Oh, you sold it fast. You--" Maybe the six-month, seven-month timeframe that it took, it was me, my back against the wall, and I was just like, "Dude, I just need to get out of this." Because I'm not going to walk into that room to my wife and be like, "Hey, you know this house we moved into and I put money into? Going to fucking lose it." No, no, no, no, no. And that took me to such a dark place. The only thing that brought me some freaking calm, man, or like clarity, was walking into my daughter's room and …

13:15

Pat WallsYeah.

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Tags: acquire.com, brokers, marketplace-listing, investor-buyout