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Apr 11, 2023 · 28m · startup-acquisition-stories

Startup Acquisition Stories with Nico Jeanne, Founder of Galeby

Nico Jeanne · 14m spoken Andrew Gazdecki · 11m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this episode of Startup Acquisition Stories, host Andrew Gazdecki interviews self-taught programmer Nico Jeanne about how he built, scaled, and sold his AI startup MakeLogo.ai for $65,000 in under nine months. Nico shares practical insights on rapid MVP validation, compressed acquisition negotiations, and his subsequent venture in AI customer support.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Andrew holds 41.7% of the talking time here. How this is scored →

Andrew as informed peer 4.5 Guest teaching 1.1 Guest disagreement 0.0 Andrew pushing back 0.0
05100:0010:0020:000:24–4:04 · Andrew as informed peer 3/10 Meet Nico Jeanne and His Coding Background Andrew enthusiastically validates Nico's rapid MVP timeline (building in 48 hours and learning to code in 9 months), framing it as textbook startup methodology. Nico describes his scrappy background and how he built the initial no-backend version.4:04–7:47 · Andrew as informed peer 5/10 Gaining Early Traction and Product Hunt Success Nico recounts gaining initial traction on Twitter and winning Product of the Day on Product Hunt. Andrew synthesizes the learnings into a structured framework about launching early and building in public.7:48–10:31 · Andrew as informed peer 4/10 Deciding to Sell Instead of Scale Nico explains his rationale for selling rather than letting the asset stagnate when his AI technical skills hit a ceiling. Andrew praises his pragmatism and compares his approach to best practices in startup literature.10:33–12:44 · Andrew as informed peer 3/10 Listing MakeLogo.ai and Attracting Buyer Inquiries Nico details pricing the business at 2.5x revenue using Acquire.com educational content and receiving dozens of NDAs. Andrew affirms that the volume of interest was strong.12:45–16:02 · Andrew as informed peer 6/10 Managing Buyer Calls and Securing a $65K Offer Nico shares how stacking calls on a single day drove a competitive $65k offer above asking price. Andrew expands on this with M&A expertise, explaining the formal concept of a 'deal schedule' and competitive timeline control.16:02–19:19 · Andrew as informed peer 5/10 Navigating Due Diligence and Closing via Escrow Nico explains doing due diligence with a simple code walkthrough, Stripe access, and spreadsheet financials. Andrew contrasts this lightweight diligence for micro-acquisitions with complex corporate M&A diligence.19:21–25:16 · Andrew as informed peer 7/10 Key Advice for Founders Selling Startups Nico outlines actionable tips for sellers, including fair pricing and providing growth playbooks to buyers. Andrew delivers expert commentary on marketplace mechanics, pricing traps, and why overpricing kills deals using a real estate analogy.25:16–27:28 · Andrew as informed peer 3/10 Developing Galeby and Expanding AI Customer Support Nico describes his next project, Galeby, an AI-augmented customer support Chrome extension born out of pain points running MakeLogo.ai. Andrew wraps up the interview praising Nico's execution.0:24–4:04 · Guest teaching 1/10 Meet Nico Jeanne and His Coding Background Andrew enthusiastically validates Nico's rapid MVP timeline (building in 48 hours and learning to code in 9 months), framing it as textbook startup methodology. Nico describes his scrappy background and how he built the initial no-backend version.4:04–7:47 · Guest teaching 1/10 Gaining Early Traction and Product Hunt Success Nico recounts gaining initial traction on Twitter and winning Product of the Day on Product Hunt. Andrew synthesizes the learnings into a structured framework about launching early and building in public.7:48–10:31 · Guest teaching 1/10 Deciding to Sell Instead of Scale Nico explains his rationale for selling rather than letting the asset stagnate when his AI technical skills hit a ceiling. Andrew praises his pragmatism and compares his approach to best practices in startup literature.10:33–12:44 · Guest teaching 1/10 Listing MakeLogo.ai and Attracting Buyer Inquiries Nico details pricing the business at 2.5x revenue using Acquire.com educational content and receiving dozens of NDAs. Andrew affirms that the volume of interest was strong.12:45–16:02 · Guest teaching 2/10 Managing Buyer Calls and Securing a $65K Offer Nico shares how stacking calls on a single day drove a competitive $65k offer above asking price. Andrew expands on this with M&A expertise, explaining the formal concept of a 'deal schedule' and competitive timeline control.16:02–19:19 · Guest teaching 1/10 Navigating Due Diligence and Closing via Escrow Nico explains doing due diligence with a simple code walkthrough, Stripe access, and spreadsheet financials. Andrew contrasts this lightweight diligence for micro-acquisitions with complex corporate M&A diligence.19:21–25:16 · Guest teaching 2/10 Key Advice for Founders Selling Startups Nico outlines actionable tips for sellers, including fair pricing and providing growth playbooks to buyers. Andrew delivers expert commentary on marketplace mechanics, pricing traps, and why overpricing kills deals using a real estate analogy.25:16–27:28 · Guest teaching 0/10 Developing Galeby and Expanding AI Customer Support Nico describes his next project, Galeby, an AI-augmented customer support Chrome extension born out of pain points running MakeLogo.ai. Andrew wraps up the interview praising Nico's execution.0:24–4:04 · Guest disagreement 0/10 Meet Nico Jeanne and His Coding Background Andrew enthusiastically validates Nico's rapid MVP timeline (building in 48 hours and learning to code in 9 months), framing it as textbook startup methodology. Nico describes his scrappy background and how he built the initial no-backend version.4:04–7:47 · Guest disagreement 0/10 Gaining Early Traction and Product Hunt Success Nico recounts gaining initial traction on Twitter and winning Product of the Day on Product Hunt. Andrew synthesizes the learnings into a structured framework about launching early and building in public.7:48–10:31 · Guest disagreement 0/10 Deciding to Sell Instead of Scale Nico explains his rationale for selling rather than letting the asset stagnate when his AI technical skills hit a ceiling. Andrew praises his pragmatism and compares his approach to best practices in startup literature.10:33–12:44 · Guest disagreement 0/10 Listing MakeLogo.ai and Attracting Buyer Inquiries Nico details pricing the business at 2.5x revenue using Acquire.com educational content and receiving dozens of NDAs. Andrew affirms that the volume of interest was strong.12:45–16:02 · Guest disagreement 0/10 Managing Buyer Calls and Securing a $65K Offer Nico shares how stacking calls on a single day drove a competitive $65k offer above asking price. Andrew expands on this with M&A expertise, explaining the formal concept of a 'deal schedule' and competitive timeline control.16:02–19:19 · Guest disagreement 0/10 Navigating Due Diligence and Closing via Escrow Nico explains doing due diligence with a simple code walkthrough, Stripe access, and spreadsheet financials. Andrew contrasts this lightweight diligence for micro-acquisitions with complex corporate M&A diligence.19:21–25:16 · Guest disagreement 0/10 Key Advice for Founders Selling Startups Nico outlines actionable tips for sellers, including fair pricing and providing growth playbooks to buyers. Andrew delivers expert commentary on marketplace mechanics, pricing traps, and why overpricing kills deals using a real estate analogy.25:16–27:28 · Guest disagreement 0/10 Developing Galeby and Expanding AI Customer Support Nico describes his next project, Galeby, an AI-augmented customer support Chrome extension born out of pain points running MakeLogo.ai. Andrew wraps up the interview praising Nico's execution.0:24–4:04 · Andrew pushing back 0/10 Meet Nico Jeanne and His Coding Background Andrew enthusiastically validates Nico's rapid MVP timeline (building in 48 hours and learning to code in 9 months), framing it as textbook startup methodology. Nico describes his scrappy background and how he built the initial no-backend version.4:04–7:47 · Andrew pushing back 0/10 Gaining Early Traction and Product Hunt Success Nico recounts gaining initial traction on Twitter and winning Product of the Day on Product Hunt. Andrew synthesizes the learnings into a structured framework about launching early and building in public.7:48–10:31 · Andrew pushing back 0/10 Deciding to Sell Instead of Scale Nico explains his rationale for selling rather than letting the asset stagnate when his AI technical skills hit a ceiling. Andrew praises his pragmatism and compares his approach to best practices in startup literature.10:33–12:44 · Andrew pushing back 0/10 Listing MakeLogo.ai and Attracting Buyer Inquiries Nico details pricing the business at 2.5x revenue using Acquire.com educational content and receiving dozens of NDAs. Andrew affirms that the volume of interest was strong.12:45–16:02 · Andrew pushing back 0/10 Managing Buyer Calls and Securing a $65K Offer Nico shares how stacking calls on a single day drove a competitive $65k offer above asking price. Andrew expands on this with M&A expertise, explaining the formal concept of a 'deal schedule' and competitive timeline control.16:02–19:19 · Andrew pushing back 0/10 Navigating Due Diligence and Closing via Escrow Nico explains doing due diligence with a simple code walkthrough, Stripe access, and spreadsheet financials. Andrew contrasts this lightweight diligence for micro-acquisitions with complex corporate M&A diligence.19:21–25:16 · Andrew pushing back 0/10 Key Advice for Founders Selling Startups Nico outlines actionable tips for sellers, including fair pricing and providing growth playbooks to buyers. Andrew delivers expert commentary on marketplace mechanics, pricing traps, and why overpricing kills deals using a real estate analogy.25:16–27:28 · Andrew pushing back 0/10 Developing Galeby and Expanding AI Customer Support Nico describes his next project, Galeby, an AI-augmented customer support Chrome extension born out of pain points running MakeLogo.ai. Andrew wraps up the interview praising Nico's execution.

speaking balance: gold is Andrew, purple is the guest (3 minute bins)

0:00 · Andrew 45.7% · guest 54.3%0:00 · Andrew 45.7% · guest 54.3%3:00 · Andrew 19.5% · guest 80.5%3:00 · Andrew 19.5% · guest 80.5%6:00 · Andrew 50.6% · guest 49.4%6:00 · Andrew 50.6% · guest 49.4%9:00 · Andrew 37.8% · guest 62.2%9:00 · Andrew 37.8% · guest 62.2%12:00 · Andrew 25.7% · guest 74.3%12:00 · Andrew 25.7% · guest 74.3%15:00 · Andrew 67.1% · guest 32.9%15:00 · Andrew 67.1% · guest 32.9%18:00 · Andrew 48.6% · guest 51.4%18:00 · Andrew 48.6% · guest 51.4%21:00 · Andrew 28.2% · guest 71.8%21:00 · Andrew 28.2% · guest 71.8%24:00 · Andrew 57.1% · guest 42.9%24:00 · Andrew 57.1% · guest 42.9%27:00 · Andrew 34% · guest 66%27:00 · Andrew 34% · guest 66%
Sharpest disagreement ▶ 15:45 Nico Admits Deal Schedule was Serendipitous Luck

In an otherwise completely harmonious interview, Nico modestly demurs Andrew's praise about his deal strategy, pointing out that booking all buyer calls in one day was pure calendar luck rather than intentional design.

 Hardest push from Andrew ▶ 2:14 Andrew Pauses the Story in Amazement

Andrew gently halts Nico's story to verify the extraordinary claim that he built and shipped the initial functional MVP in just 48 hours.

 Biggest teaching moment ▶ 22:40 Nico on Writing Growth Playbooks for Potential Buyers

Nico explains his advertising-derived tactic of creating an explicit product roadmap document to help prospective buyers visualize expansion opportunities.

 Andrew holds their own ▶ 20:43 Andrew's Breakdown of Marketplace Valuation Realities

Andrew draws on extensive marketplace data to explain why overpricing repels buyers and how transparent pricing creates competitive bidding dynamics.
the scores for every segment, with the reasoning behind each
ChapterTopicAndrew as informed peerGuest teachingGuest disagreementAndrew pushing backWhy
Meet Nico Jeanne and His Coding Background 3100 Andrew enthusiastically validates Nico's rapid MVP timeline (building in 48 hours and learning to code in 9 months), framing it as textbook startup methodology. Nico describes his scrappy background and how he built the initial no-backend version.
Gaining Early Traction and Product Hunt Success 5100 Nico recounts gaining initial traction on Twitter and winning Product of the Day on Product Hunt. Andrew synthesizes the learnings into a structured framework about launching early and building in public.
Deciding to Sell Instead of Scale 4100 Nico explains his rationale for selling rather than letting the asset stagnate when his AI technical skills hit a ceiling. Andrew praises his pragmatism and compares his approach to best practices in startup literature.
Listing MakeLogo.ai and Attracting Buyer Inquiries 3100 Nico details pricing the business at 2.5x revenue using Acquire.com educational content and receiving dozens of NDAs. Andrew affirms that the volume of interest was strong.
Managing Buyer Calls and Securing a $65K Offer 6200 Nico shares how stacking calls on a single day drove a competitive $65k offer above asking price. Andrew expands on this with M&A expertise, explaining the formal concept of a 'deal schedule' and competitive timeline control.
Navigating Due Diligence and Closing via Escrow 5100 Nico explains doing due diligence with a simple code walkthrough, Stripe access, and spreadsheet financials. Andrew contrasts this lightweight diligence for micro-acquisitions with complex corporate M&A diligence.
Key Advice for Founders Selling Startups 7200 Nico outlines actionable tips for sellers, including fair pricing and providing growth playbooks to buyers. Andrew delivers expert commentary on marketplace mechanics, pricing traps, and why overpricing kills deals using a real estate analogy.
Developing Galeby and Expanding AI Customer Support 3000 Nico describes his next project, Galeby, an AI-augmented customer support Chrome extension born out of pain points running MakeLogo.ai. Andrew wraps up the interview praising Nico's execution.

Statements from this episode (11)

Disclosure
Jeanne learned to code at age 25 in May 2022
“So I'm Nico, I'm 25 years old, and I learned to code in May from last year, so twenty-twenty-two.”
Nico Jeanne Apr 11, 2023 ▶ 1:06
Disclosure
MakeLogo.ai's MVP had no backend and was fulfilled manually
“So I just made like a HTML landing page with a type form and that's it. No backend. Basically people were paying and I was manually using the AI model to generate the logo and sending it by email. So that was my MVP.”
Nico Jeanne Apr 11, 2023 ▶ 3:41
Assertion Not checkable as stated
Early MakeLogo.ai MVP made 10 to 12 sales on Twitter
“And yeah, I got like, I think I got 10 or 12 sales from it.”
Nico Jeanne Apr 11, 2023 ▶ 4:50
Assertion Supported
Jeanne: MakeLogo.ai won Product of the Day on Product Hunt
“So I just launched on product and then it totally blew up. I ended up product of the day. I think.”
Nico Jeanne Apr 11, 2023 ▶ 5:31
Assertion Not checkable as stated
Jeanne: MakeLogo.ai made over 1,000 sales on Product Hunt launch day
“And I made like, I don't know, 1000 of sales, more than 1000 of sales directly from this day because of the, there is always the spike and”
Nico Jeanne Apr 11, 2023 ▶ 5:44
Disclosure
Jeanne listed MakeLogo.ai on Acquire.com at a 2.5x revenue multiple
“And I decided to list it for 2.5 X revenue which isn't much, but I thought there's a lot of things to improve on the app. So I feel that's a fair price because it's not like a like a proven track record of like one year of stability is just three months of sta…”
Nico Jeanne Apr 11, 2023 ▶ 11:44
Assertion Not checkable as stated
Jeanne sold MakeLogo.ai for $65,000 after listing at $49,000
“So he made me the offer, the final offer. So it was 65,000. And yeah, I was like, damn, that seems unreal. Like, What happened in here? Because I listed it for at first 49 thousand. Then I increased to 50. And yeah, then he offered me like 65.”
Nico Jeanne Apr 11, 2023 ▶ 14:02
Insight
Gazdecki: Compressing buyer calls into one day preserves deal momentum
“You got on calls with buyers, because when you sell a business, you have to sell the business, and what I mean by that is, you need to talk to buyers, you need to answer their questions, and I like how you did it all in one day, Because that helps you control …”
Andrew Gazdecki Apr 11, 2023 ▶ 14:45
Assertion Not checkable as stated
Gazdecki: Overpricing is the primary reason startups fail to sell
“The number one reason that startups don't sell on acquire.com is overpricing”
Andrew Gazdecki Apr 11, 2023 ▶ 20:43
Insight
Gazdecki: Having only one buyer means having no buyers
“If you have one buyer, you tend to have no buyers.”
Andrew Gazdecki Apr 11, 2023 ▶ 21:44
Insight
Underpricing a startup listing can attract buyers and increase bids
“You can probably even like under price a little bit, To get more buyers and then negotiate to like push it up sort of.”
Nico Jeanne Apr 11, 2023 ▶ 21:54
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