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Jim Fowler

๐Ÿ‘ค Speaker
235 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

We were, um, our previous year was I think 17 million, 18 million.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

And then, you know, our, we were on a 25 million run rate at that point in time and we were growing very quickly.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

We would have our run rate at the point of sale was about 25 million and run rate when we got bought.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

Um, of course we were invested.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

We just basically kept our cash even.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

Um, and, uh, but we were cashflow positive at that point in time.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

If you go look at all the press releases that Salesforce did, they announced the deal at 142, but it was actually 150 because we had 8 million in cash when we got bought.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

So that just went right back to shareholders.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

What they were really trying to do at that point in time, they were very sensitive to their stock price getting pummeled for overpaying.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

They had never bought anything for more than $30 million.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

Now they go out and do huge acquisitions, and that's a small acquisition.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

But back in 2010, this was very scary for them.

SaaS Interviews with CEOs, Startups, Founders
The Art of Selling Your Company

So they wanted to go to the street and not look like they were overpaying because our revenue multiple was very high.