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Mateo Munoz

๐Ÿ‘ค Speaker
180 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So we had equity partners, and then we also had a little bit of loan for equity also.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

A traditional bank.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

Got it.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So venture traditional.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So yeah.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So at that point in time, he got parachuted in.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

They basically did a rundown and said, hey, is this going to be a concept that would potentially work?

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

And do we want to go ahead and roll into a new company?

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So they believed in it.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

Our current investors did.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So we rolled over, went through the insolvency process in the UK, worked out the debts here in the United States.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

Fortunately, I didn't have to do all that, but I did get a good practice in negotiation and dealing with our IRS that I never thought I would have.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

um so i actually had to go ahead and negotiate uh we had quite a bit of back taxes uh the uk the former business i guess the former former business suite there like i said those executives they set up our business here in the united states so there's actually no director on this side of the pond so where are you right now

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

I'm in Salt Lake.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

But wait, what do you mean UK?

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

The business.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So our business is owned, the group is owned out of the UK.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So it's actually a limited that owns our business here in the United States.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

So we're wholly owned by the UK business as well.

SaaS Interviews with CEOs, Startups, Founders
820: How to Bankrupt a $4m/yr Business then Relaunch as SaaS

But we function as an ink here in the US, obviously.