Disclosure certainty 4/5 debate potential 1/5

Bluford: Bootstrapped QuickLegal to $600K before raising $750K

Derek Bluford · Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal · Jan 20, 2016 · at 6:04

QuickLegal founder Derek Bluford describes his early funding history before joining 500 Startups.

0:00 / 0:06exact quote · 6.8s
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“I bootstrapped the company initially to Up to about 600,000, and then I raised about 750,000.”

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More from Derek Bluford

Disclosure
Bluford: Acquisition offer for QuickLegal was between $12M and $15M
“It's above our current valuation, and under 15.”
Derek Bluford Jan 20, 2016 ▶ 9:32 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
Assertion Not checkable as stated
Bluford: QuickLegal raised angel capital at a $12M valuation
“Well, right now we've had some angels invest in, and right now, our valuation's twelve million.”
Derek Bluford Jan 20, 2016 ▶ 6:30 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
Assertion Not checkable as stated
Bluford: Clio has over 40,000 paying attorney users in California
“So they are a practice management company, and they have over 40,000 users just in California that are attorneys that pay them for their service.”
Derek Bluford Jan 20, 2016 ▶ 9:53 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
Prediction Didn’t hold up
Bluford: QuickLegal will be on the ABA Journal cover in Q1
“Yeah, so our first quarter, we're gonna be on the cover of the National ABA Journal, and that goes to about 1.2 million attorneys”
Derek Bluford Jan 20, 2016 ▶ 10:55 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
Disclosure
Bluford: QuickLegal filmed an appearance on Shark Tank
“We've done Shark Tank recently. That went very well, and we're waiting for that to air.”
Derek Bluford Jan 20, 2016 ▶ 11:22 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
Assertion Not checkable as stated
Bluford: QuickLegal signed partnerships and non-competes with LegalZoom and Rocket Lawyer
“And then thankfully, we've actually entered into strategic partnerships with them now. So with, you know, non-compete.”
Derek Bluford Jan 20, 2016 ▶ 12:09 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
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