Achard: Freemium apps require dedicated teams or venture funding to scale
Chris Achard · Startup Acquisition Stories with Chris Achard, Founder of AcornChat · Sep 7, 2022 · at 3:38
Chris Achard, founder of MeetingPlace and AcornChat, speaks with MicroAcquire founder Andrew Gazdecki about why he chose to sell MeetingPlace instead of continuing as a solo bootstrapped developer.
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“I was trying to do it as a solo dev, but it's the type of business that I think Makes more sense to, like, build a team for or raise money for, because it was a freemium app, and so there was, like, there were a lot of free groups, and to really get the word out, I would have had to spend a lot more time doing things that I just didn't have time to do.”
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“So if you kind of outline the things that you know are wrong with the app, then they can, like, figure out some quick wins as soon as they buy it, and so I think that helped in that case.”
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Achard accepted a lower all-cash acquisition offer to avoid seller financing
“So I got maybe 15 requests in, like, under a week and then I got two really serious people talked to them on on Zoom, and they, so I got Offers from both of them. And one of them was more like he was a developer like me. He wanted to pay all cash. He was like …”