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Recently I had serious acquisition offer come out of the blue for my suite of Ghost products:
⢠http://gloat.dev (Ghost services)
⢠http://gum.co/substation-theme (newsletter theme)
⢠http://cove.chat (commenting tool)
⢠http://ongloat.com (host)
A thread
⢠http://gloat.dev (Ghost services)
⢠http://gum.co/substation-theme (newsletter theme)
⢠http://cove.chat (commenting tool)
⢠http://ongloat.com (host)
A thread
I was presented with three different offer options:
⢠$75k for a clean exit
⢠$67k to retain 20% but no commitment to work
⢠$50k cash injection with 50% ownership and commitment to continue working
Offers were based on an MRR multiple plus an hourly rate for hours worked.
⢠$75k for a clean exit
⢠$67k to retain 20% but no commitment to work
⢠$50k cash injection with 50% ownership and commitment to continue working
Offers were based on an MRR multiple plus an hourly rate for hours worked.
âMRRâ was calculated as the MRR from http://ongloat.com and http://cove.chat plus average monthly revenues from http://gloat.dev and Substation (one-off products).
At the time, âMRRâ was $1,226. I estimated I'd worked for ~175 hours total.
At the time, âMRRâ was $1,226. I estimated I'd worked for ~175 hours total.
I was ready to sell (although it took me a day to figure that out).
I'd ploughed many hours into each of the projects and I enjoy working on them all, but I was willing to let them all go.
$75k for a clean exit would be brutal and abrupt but, in the big picture, a huge win.
I'd ploughed many hours into each of the projects and I enjoy working on them all, but I was willing to let them all go.
$75k for a clean exit would be brutal and abrupt but, in the big picture, a huge win.
Each of the four projects had been launched since May this year. It was hugely encouraging seeing someone value them as projects that were worth buying.
It would be hard to let them go but the capital could be used to fuel new projects and boost personal finances.
It would be hard to let them go but the capital could be used to fuel new projects and boost personal finances.
I had an hour-long call with the the prospective buyer and we talked through the different options. I made it clear that a clean exit was my preferred option; it just felt a lot easier to simply part ways, rather than continue with them in a new ownership arrangement.
Ultimately, a week after our call, the buyer decided not to pull the trigger. It sounded like they weren't 100% convinced about Ghost as a platform for the future.
I am totally the opposite
I'm bullish about Ghost. It's going to become a huge player in the publishing world.
I am totally the opposite
I'm bullish about Ghost. It's going to become a huge player in the publishing world.
Overallâand despite nothing coming of itâthis was a great exercise in sorting out my business mindset, and a big confidence booster.
And as I've tweeted before, I believe everything has its price. My projects will always be available for purchase, for the right price.
My DMs are always open.
My DMs are always open.
(Massive shout out to @typefullyapp for making threads a blast to write, edit and publish 
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