Group webinars beat one-on-one onboarding when migrating low-ACV software acquisitions
Ryan O'Neal · How we acquired a competitor for $40,000 (and why we'll never do it again) · Nov 12, 2022 · at 12:38
Ryan O'Neal, CEO of event software platform Curate, shares operational migration lessons from acquiring competitor BloomTrack.
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“Webinars are better than onboarding. I literally went back to our post notes after the acquisition to prepare for this talk, and that was one thing. They said, just do big webinars. Like, don't go with each and every person and work through it. These are small customers.”
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More from Ryan O'Neal
Outbuilding a direct rival is ultimately easier than acquiring them
“And then it's just easier just to build, be the better software, right? It's the last, it's just easier just to build better and build faster, especially when you're in a space that you're going one-to-one with a competitor.”
Curate spent $40K to add $250K ARR and boost valuation by $2.5M
“I could have said how I spent 40,000 dollars to get 250,000 of ARR and increase my valuation by 2.5 million”
Micro-acquisitions should be structured strictly as asset sales to move fast
“At least at this small of a deal, like, make it clean. Don't put in these crazy equity buyouts and all this stuff. Just make it super clean if you want to move fast. Strictly assets sell.”
Curate achieved nearly 200% NRR on its acquired competitor customer base
“We saw nearly 200% NRR on these.
We had one customer that went from 3000 to 30,000, right?
Like, two of our largest customers came from this, and so it was a really cool opportunity for us to be able to grow that customer base”