Sukh Sidhu, founder of Stridist, discusses his first micro-acquisition on MicroAcquire before purchasing Stridist.
Opinion
Sidhu: Incumbent fitness software platforms are merely tolerated, not liked
“And in, in the fitness industry, there are, there's lots of competition for what we're building, but they've been around for, you know, 1020 years, and none of them are liked, they're all just tolerated”
Opinion
Sidhu: Fitness software rarely scales beyond 10,000 users due to fragmentation
“Beyond that, I think it's a world of pain in the industry that we're in. It's so fragmented and just a very difficult industry in general to scale in and bring together.”
Disclosure
Sidhu killed two acquisitions because sellers refused to share codebase access
“I got in a couple of situations on On micro-acquired, I think, one-off, where I didn't end up buying, and this is, again, pre-Stridist, where I submitted a letter of intent, we moved into due diligence, and the seller just was still really unwilling to share m…”
Assertion Not checkable as stated
Sidhu bought Stridist on MicroAcquire when it had flat $1,000 MRR
“I think when we first found it on Micro Acquire, it was around just over a thousand dollars MRR and just flat line, no marketing, no presence online.”
Assertion Not checkable as stated
Stridist generates roughly $36,000 in monthly recurring revenue
“It's about 36,036 K MRR.”
Assertion Not checkable as stated
Sidhu's existing audience drove $20K MRR in Stridist's first eight weeks
“I think, you know, somewhere between the first 15 to 20 K MRR came in the first eight weeks, six to eight weeks, and that's probably credited to my existing audience, and then since then it's largely been word of mouth content really on social but”