The Ledger
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Quiry slashed NinjaOutreach revenue by a third by firing SEO clients
“And so day one, I fired all the SEO clients, which was a third of revenue. And so we went from 50 to 40 on day one.”
Quiry argues SaaS founders do not need brokers charging 15% exit fees
“If someone has the capability to start and grow a SaaS company, there are outlets like Flippa that don't require you to go spend 10 or 50% of your initial eventual outcome on a fee. Absolutely unnecessary, in my opinion, for everybody. Some people need it. Som…”
Quiry avoids acquiring SaaS businesses with over 5% customer revenue concentration
“And so I don't like any customer who accounts for more than two to five percent of revenue.”
Quiry says NinjaOutreach only needed one of its three original developers
“It had three developers when I acquired it. It turned out it only actually needed one. And so two of them left on their own accord.”
Quiry requires SaaS acquisition targets to be at least three years old
“When you buy a company like I do, that's at least three years old. It's one of my prerequisites. You really don't have to do much to just keep it running, right?”
Quiry structured early SaaS acquisitions as all-cash with $200,000 holdbacks
“In all of my early deals, it was all cash up front there. There was a 200,000 dollar hold back for six months. That's it.”
Quiry sold NinjaOutreach for more than double his $1.2M purchase price
“I just don't remember, but it was more than double than what I paid.”
Quiry predicts institutional capital will flood micro-SaaS acquisitions this decade
“I think this is the decade where our industry and Really kind of comes to its own or institutional capital and retail investors start looking for opportunity in this space.”
Quiry sourced the NinjaOutreach acquisition via Baremetrics' Open startups page
“Before Josh sold bare metrics and they probably still have, they have this open page, right? And on that page, they display SAS businesses and their revenue. And I just started contacting the ones that I felt were interesting. And Ninja outreach was one of the…”
NinjaOutreach generated $60,000 monthly in 2018 before Quiry acquired it
“I'm going to guess it was doing 60,000 a month, but 20,000 was from SEO customers.”
Flippa's CEO brokered Quiry's handshake sale of NinjaOutreach in 48 hours
“The CEO saw the deal, saw that it was the most popular deal on Flippa in terms of watchers, traffic, and eyeballs. Picked up the phone to, I guess an outfit called TCM that was actively buying deals. And I guess they had communicated and already done a big dea…”
Quiry launches $25 million SaaS acquisition fund Silver Tsunami
“I started a fund called Silver Tsunami. We're raising twenty-five million dollars. I picked up 500,000 of that actually right before this call from a new investor.”