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In this video, Marco Fazio, CEO of Hypeal, discusses his experience with the acquisition process and shares valuable insights for entrepreneurs looking to sell their businesses. He highlights the importance of treating each buyer as a potential buyer and consistently engaging with them. Fazio recommends finding a buyer who aligns with your vision and being prepared for the due diligence process. He also emphasizes the advantages of being built on e-commerce platforms in terms of a smooth due diligence process. Fazio expresses satisfaction with the relatively smooth and efficient acquisition process of his business and shares his new venture, IPO, a crowdfunding platform for startup funds.
In this section, Marco Fazio, CEO of Lito Travel, discusses the founding of his company and the decision to list it on acquire.com. As someone with a background in e-commerce, Marco saw an opportunity in creating a space-saving suitcase. After listing his startup on the platform, he initially experienced a lot of interest, but things slowed down due to the Q4 season and concerns about market acquisitions. To overcome this obstacle, Marco hired an advisor from Westbound Road to help him sell the business. Overall, the decision to list on acquire.com and seek professional guidance proved to be successful for Marco and his startup.
In this section, Marco Fazio discusses the process that led to a successful acquisition of his company. After listing the company, there was an initial influx of leads, followed by a long tail of potential buyers. Fazio's advisor and team consistently engaged with these leads through weekly outreach, treating each buyer as a potential opportunity. It took them around five months to sell the company after listing, but their continuous follow-up and consistent engagement made a difference. Fazio emphasizes the importance of treating each buyer as the potential buyer and following up regularly with updates and information. Eventually, they found the final buyer through a process of talking to around 80 interested people and receiving two LOIs (Letters of Intent). The relationship felt right with the final buyer, who aligned with their values and wanted to keep the founder story intact. Fazio recommends finding a buyer who shares your vision and getting along with them, as well as being prepared for the due diligence process and ensuring the buyer understands what they are acquiring.
In this section, Marco Fazio, CEO of Hypeal, talks about the smooth due diligence process in e-commerce acquisitions. He explains that since e-commerce businesses rely on platforms like Google Analytics, Shopify, and Facebook Ads, it becomes easy for buyers to verify the business's performance and value. Fazio mentions that handing over reading access to the accounts allows buyers to assess factors like traffic, sales, and customer lifetime value. He highlights the advantage of being built on e-commerce platforms, as it simplifies the due diligence process compared to other industries. Fazio also emphasizes the importance of working with experienced buyers who have acquired businesses before, as they have established templates and processes that speed up the acquisition timeline. While the acquisition took five months to close, Fazio expresses satisfaction with the relatively smooth and efficient process.
In this section, Marco Fazio, CEO of Hypeal, shares some key learnings from selling his business. He emphasizes the importance of having clean financials and being profitable, especially in the e-commerce space. Having a clear understanding of the monthly profit and loss account and showing consistent cash flow is crucial for attracting buyers. Marco also mentions the launch of his new business, IPO, a crowdfunding platform with a secondary market for startup funds. He highlights the potential of decentralized exchanges and the need for more opportunities for startups to raise funds through securities. Overall, Marco provides valuable insights for entrepreneurs looking to sell their businesses and offers a glimpse into his exciting new venture.
In this section, the speaker expresses gratitude to Marco Fazio for providing a platform that allows entrepreneurs to make small acquisitions and focus on their passion for entrepreneurship. They appreciate being able to move forward and not get stuck in the day-to-day operations of just one company. The speaker also mentions that if anyone wants to learn more about Marco's story or new company, they can contact him on LinkedIn.
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