JJ Englert, founder of Jump Studios, discusses the primacy of revenue when trying to sell a software business with Andrew Gazdecki.
0:00 / 0:07exact quote · 7.8s
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“I tried to sell my first tech startup, the one I invested like 300 grand into, but it had no revenue, and I couldn't even sell it. I couldn't even sell the technology for it, right?”
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More from JJ Englert
Insight
JJ Englert says no-code accelerates product-market fit and cuts maintenance costs
“It's advantageous to build on no code in many ways, especially in these early days, because the cost to maintain it is lower. The ability to ship is faster, and that gives you the ability to move quicker and to adjust to your customer's needs faster, which hel…”
JJ EnglertNov 29, 2022▶ 3:53Startup Acquisition Stories with JJ Englert, Founder of Jump Studios
AssertionNot checkable as stated
JJ Englert built Bubble no-code systems processing 20 million monthly workflows
“Over the last year and a half, I've built no code systems that natively on bubble process over twenty million workflows a month without a problem, right?”
JJ EnglertNov 29, 2022▶ 4:18Startup Acquisition Stories with JJ Englert, Founder of Jump Studios
Disclosure
A last-minute buyer offered $4,000 over asking price for Jump Studios
“And then the last moment, a new buyer emerged and offered 4000 dollars more than asking price.”
JJ EnglertNov 29, 2022▶ 10:22Startup Acquisition Stories with JJ Englert, Founder of Jump Studios
Disclosure
Englert used public demos and P&L records to filter out casual buyers
“The biggest thing that I did was I recorded a demo, I recorded customer interviews, and I made my P&L public, and I was like, here's everything, right? Don't really come at me unless you're ready, you've watched all that, and you're ready to actually have more…”
JJ EnglertNov 29, 2022▶ 15:05Startup Acquisition Stories with JJ Englert, Founder of Jump Studios
AssertionNot checkable as stated
A single LOI triggered four competing buyer offers for Jump Studios overnight
“There was one night where like one person sent an LOI out of the blue. And then I got like four more right away.”
JJ EnglertNov 29, 2022▶ 18:28Startup Acquisition Stories with JJ Englert, Founder of Jump Studios
AssertionNot checkable as stated
JJ Englert spent $300,000 and 2.5 years building a .NET startup
“My first startup, non-technical founder built on a .NET stack. We spent over 300,000 dollars in the technology. We were just spent the whole time, two and a half years, just trying to make the technology work.”
JJ EnglertNov 29, 2022▶ 6:51Startup Acquisition Stories with JJ Englert, Founder of Jump Studios
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