3 years and 3 startups, I finally managed to exit and sold my startup.
It was a though journey these past 3 years, sleepless nights, did multiple gigs to cover my depleted saving. Never in my mind I think about selling my startup at all. I built to keep not to sell.
On my 3rd startup I faced a dilemma as cofounder. We have a mission and we need to grow. Unfortunately, to grow and fullfil the mission, we need funding, we need investors. We started to find one.
Couple of months passed by, my cofounders hustle hard to get investors. We attracted few, yet none made a move. Some made a move, however the terms were not in our favor.
We applied for accelerator program, we didn’t get shortlisted. Despite that, we believed and preserved, we can make it. Several clients had approached us and we were positive we could obtained more. Things were looking good although a bit slow.
Several weeks ago, me and my cofounders met. There was a company that wanted to bought us. I was surprised with that news. The offering was low, however the time and situation were against us. Several big startups in the region started to expand their operation, several new comers appeared. The competitions were getting harder and more difficult. We need to act now, else we won’t make it.
The company that planned to acquired us have the same mission as us, we shared value My cofounders convinced me.
We have a mission and this startup is just a tools
We can change the tools, what matter is the mission
We accepted the deal.
Now, I am working under the new company. Things are a bit hectic as we migrating the system and preparing for new product launch. We grow our operations almost 3x within a month.
However, deep inside there is something I only realised after the acquisition. What I really care about my startup is not only the mission, but also the freedom. The freedom to choose a direction, to implement a new technology, to help people, to achieve a mission.
I sold my startup and I paid for it with the freedom.
I am not regreting the decision, this is natural a part of learning process. I am happy and grateful with what I achieved.
I am still hungry and still have ideas that keep me from sleeping at night. I know what I need to do next. Onwards preparing the 4th.