Metelsky: Sitekick.ai Acquirer Won Deal With 10% Refundable Retainer
Viktor Metelsky · Startup Acquisitions Stories Podcast With Victor Metelskiy, Founder of Sitekick.ai · Jul 24, 2024 · at 15:55
Viktor Metelsky, founder of Sitekick.ai, explains how an investor bypassed stalled competitors and completed the acquisition of his company.
0:00 / 0:43exact quote · 43.1s
720p mp4 · rendered on demand · StarZero watermark
“And the next day he reached out to me and he told me, Hey, let me just say just transfer a 10% retainer to your account. Just you know, we will sign a small LOI where we will say that it has to be refundable if the deal doesn't fall through, but otherwise, let me just send you know 10% retainer to show you that I'm serious, and we'll move on. Yeah, and I was like, okay, you know, this guy, he's already willing to send Some money to my account. So I respected that. And yeah, since that, you know, he was the one who eventually bought the company.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Viktor Metelsky
Metelsky: Sidekick AI Product Hunt Launch Generated Only One $19 Sale
“I launched it on Product Hunt, and it became a product number one of the week on Product Hunt, and there was a lot of hype around it, and I got some media attention, but long story told short, only, I made only one sale worth 19 bucks,”
Metelsky: Sitekick Received 50 To 60 Buyer Inquiries After Acquire Newsletter Feature
“What really helped is we got featured. I think you've got something like a daily featured startup section in your mailing list. And then one day also, I don't know, I got 50, 60 potential buyers reaching out”
Metelsky: Sitekick received three legitimate LOI offers during acquisition process
“The things really started speeding up when we've got our second offer and then the third offer. So technically I had three legit offers. With LOI.”
Metelsky: Due Diligence Strips Away Founder Delusion and Exposes Raw Metrics
“During due diligence, you kind of, maybe as a founder, you yourself, you see, You know, business for what it is. Because sometimes as a founder, you know, it's our it's our child, it's our project, and we care about it. So sometimes, you know, we just say, oh,…”
Metelsky: Sitekick Received Over 100 Buyer Inquiries on Acquire.com
“I think we get like more than a hundred potential buyers reaching out on acquire.com”
Metelsky: Lost excitement for Sitekick prompted decision to sell
“So just for some time I wasn't really excited about the product anymore and I thought that there are some other great opportunities and now is a good time to Launch products and a lot of stuff is happening. So I thought, well, if I'm not happy working on this,…”