The Ledger

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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
Assertion Not checkable as stated
Bluford: Sold previous legal services startup for $425,000
“It was 425,000.”
Derek Bluford Jan 20, 2016 ▶ 2:47 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
Assertion Not checkable as stated
Bluford: QuickLegal generates $65K monthly from 130 paying attorneys
“We have a little over a 130, which generates us about 65,000 dollars a month, and we have about a little over 700 attorneys that have signed up for our free, you know, ninety-day trial to give it a test run.”
Derek Bluford Jan 20, 2016 ▶ 5:48 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
Disclosure
Bluford: Retains more than 60% ownership of QuickLegal
“I own more than 60.”
Derek Bluford Jan 20, 2016 ▶ 10:38 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
Disclosure
Bluford: Bootstrapped QuickLegal to $600K before raising $750K
“I bootstrapped the company initially to Up to about 600,000, and then I raised about 750,000.”
Derek Bluford Jan 20, 2016 ▶ 6:04 Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal
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