The Ledger
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Mellstrom: Marketing tools like Klaviyo left a huge purchasing gap
“But we felt like, you know, those companies weren't taking marketing far enough, and there was still a huge gap between, you know, re receiving a message from a brand and actually making a purchase.”
Buddy received two all-cash LOIs within 24 hours on Acquire.com
“It wasn't more than 24 hours after I listed on acquire that I got probably five to 10 inquiries and received two unsolicited LOIs for at or above asking price and all cash.”
Mellstrom: Buddy acquired its first 30 customers via Instagram DMs
“So we were like DM warriors on Instagram for like two or three months. And that worked. We got to, you know, I'd say probably 25 or 30 customers just using the like pure DM, you know, scrappy outreach.”
Mellstrom: Buddy acquisition was not life-changing but provided bridge capital
“So, so we sold Buddy wasn't a life-changing outcome but it did provide some you know, some bridge, I guess, bridge money to go on to the next thing.”
Mellstrom: Managed Buddy acquisition diligence solo using venture background
“And for the most part, I managed everything on our end. So again, my background, you know, having been an early stage investor previously, like been through this process many, many times, seen the movie play out. Many different ways and felt, you know, confide…”