Heyo

“My first company, Heyo, it was a drag and drop for Facebook apps. Every Tuesday morning, we knew that we were going to have something broken because that night Facebook release, that's when they did the release. And eventually we topped out about 80, 90 grand …”

“Now, passing on this was one of the biggest mistakes of my life.”

“In Halo's case, the customers who kept paying the longest were those who captured the most leads through our Facebook contests. So we started to tie pricing to the number of leads collected and immediately saw a revenue spike.”

“Out of the 443 customers who signed up in February, 2014, 84.7% had churned by February, 2016, two years later.”

“One of the biggest mistakes I made at my first company, Heyo, is when everyone else was raising huge rounds, and I thought it was very frothy. I had a large acquisition offer on the table, and I walked away from it, and then sold for way less than that four ye…”

“And you got less than a 100,000 dollars from it.”

“One, the mark, we missed the maximum. We missed twenty-twelve selling. We should have sold in twenty-twelve. We raised capital, additional capital to try a new concept, which was social selling, which failed, right?”

“I recorded the negotiations, I mean, with my team when I sold the business... And the buyer... I made it contingent. I mean, part of the deal, we had many, many offers on the table.”

“So it is a 100% true that there were investors that got back less money than what they put in.”

“And quite frankly, we gave seven figures back to investors.”

“That was our cumulative revenue. ... Over five years.”

“As we built Heyo, raised two and a half million bucks in venture capital, hit five million in sales”

“And when we raised two and a half million back at Heyo, I just, I got so irresponsible once we had more money and less creative.”

“I mean, we had those kind of moments that, you know, kind of we almost wanted to walk, you know, and in the end, I think it all turned out for the best.”

“We had multiple LOIs from, you know, one of them was a publicly traded company.”

“Folks, the deal is done. We have sold heyo.”

“So we see we see no change happening to Hayo customers. We want to, you know, we kind of look at Hayo and what you guys have built as a well-oiled machine and we don't want to mess with that.”

“I signed. We are selling Heyo.”

“So we've actually been you know, kind of been thinking about entering the space for a while and just recently kind of, you know, really, you know, made the decision and, you know, from a strategic standpoint to kind of open the floodgates, if you will to the S…”

“In the end, many, many big companies were interested in buying Heyo, but I got four of them to actually submit a written redlined letter of intent.”

“So, I've got to get to an LOI or a letter of intent and then see if I can create a bidding war between all the folks or the companies that put in the letter of intent to potentially buy HAYO.”

“I would say that wait till they show you a contract, because right now they might just be fishing, and, you know, dangling a carrot in front of you, and it would be harder for you to tell your team Oh, the deal fell through.”

“And the email was one of our big competitors emailing me to acquire Hayo.”

“We have David Cohen from Techstars in the business. We have, you know, our, you know, a Forbes billionaire involved in the business.”

“They also just acquired somebody else in our space. So I think they might be doing a roll up strategy.”

“My fear is we're so comfortable that there's probably other opportunities out there where our team could hit a massive billion dollar home run, and that's not going to be a Facebook app.”

“We technically could keep building campaign builder on Facebook apps for the next 20 months and not worry about payroll.”

“Our number one competitor offered to buy the business.”

“Many of our competitors were left crushed, while we rapidly grew to over 10,000 paying customers, over five million in sales, and as you guys know, we raised over 2.5 million dollars from some of the world's top venture capitalists.”

“Pat Matthews, one of our early, early seed investors in the business, and one of my, I've learned a ton from him. He, you know, his advice to me was, Nathan, you need to look at this as an opportunity to, you know, declare victory, close this chapter of your l…”

“I decided very early on in the process to have the whole team see the offers come in, See kind of how I bid up each offer on Hale, and they all got to learn from the process, and people that, where it was clear that they had moved away, and that they weren't g…”