Varun Kundra, co-founder of Beam Commerce, explains how they expedited closing Product Quiz Builder by skipping escrow.
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“And I think one thing that helped here was like because of our relationship with the buyer, we, you know, we liked it not to go do escrow at all.
Like we just wired the, he just wired the funds.
so that saves a lot of time.”
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 →
“If you only have one buyer, they have all their leverage, but if you have a three or four, then you can say, Hey, this person offered me this, but these terms, what do you think? Can you do better than that?”
Varun KundraApr 25, 2023▶ 14:28Startup Acquisition Stories with Varun Kundra, Co-Founder of Beam Commerce
Insight
Kundra: Sell Your Startup During High Growth to Maximize Acquisition Options
“You'll definitely get better options if you list earlier when you are having like really good growth versus like, okay, my product has now like maybe flatlined or plateaued, then I should list them.”
Varun KundraApr 25, 2023▶ 15:58Startup Acquisition Stories with Varun Kundra, Co-Founder of Beam Commerce
AssertionNot checkable as stated
Kundra: $10K–$20K App Sales Take Weeks; Larger Sales Take Months
“And then for the selling I felt it was easier to sell the smaller products. They were like in the 10 to 20 K range. Those were faster. And I would also say like maybe two, three weeks. And this most recent acquisition, this most recent sale took longer. It too…”
Varun KundraApr 25, 2023▶ 3:28Startup Acquisition Stories with Varun Kundra, Co-Founder of Beam Commerce
Insight
Kundra: Shared Slack Channels Accelerate Post-Acquisition Transitions Better Than Email
“One thing that I did this time and I would recommend is create like a Slack channel between You and your team and the buyer and their team. So then like your customer support person can talk to their customer support people. You can, you know, the product pers…”
Varun KundraApr 25, 2023▶ 12:02Startup Acquisition Stories with Varun Kundra, Co-Founder of Beam Commerce
Disclosure
Varun Kundra Sells Shopify App for Six Figures on Acquire.com
“That is accurate.”
Varun KundraApr 25, 2023▶ 0:38Startup Acquisition Stories with Varun Kundra, Co-Founder of Beam Commerce
Disclosure
Kundra: Beam Commerce Acquired Product Quiz Builder from Dutch Agency
“So actually we bought it from another company. It was an agency in the Netherlands and they were trying to sell off the app. To sort of focus on a bigger project. And we really liked the category. We really liked the build quality. We thought we saw a lot of p…”
Varun KundraApr 25, 2023▶ 1:12Startup Acquisition Stories with Varun Kundra, Co-Founder of Beam Commerce
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