On November 1st, 2019 I was standing in the TSA line at the Minneapolis Airport heading to San Diego for a long-planned family vacation. With a family of 6, it’s no surprise we were behind schedule.
I had planned to get the wife and kids through security and then head off to the Delta Sky Club to jump on an important call … the closing call to finalize the sale of GatherUp of which I was the CEO of (and owned a double-digit percentage of).
Instead, I had to take the call while standing in the TSA line, letting my family and others go ahead of me as all sides of the deal agreed that everything was in order and signed. That 3-minute phone call ended nearly 4 months of hard work, stress, a ton of learning, and started the wire transfers to all of us that owned GatherUp. Unreal.
3 Podcast Episodes Covering The Sale of GatherUp
To start 2019 my friend Darren Shaw and I had launched a podcast called The SaaS Venture to do monthly or so episodes on running our SaaS businesses. Little did I know that in less than a year I would be doing a three-episode series breaking down the sale of GatherUp.
These episodes are embedded below and cover as much as I could share on the entire acquisition experience. I hadn’t sold a SaaS company before and I tried to share everything I learned, almost creating the series of interviews I wished I could have listened too before or during our sale.
Selling GatherUp, Part 1 – The Why
The first episode of the series looks at what took place before the acquisition. What the founders wanted in a possible deal, what to be prepared for and how to set yourself up for success.
Selling GatherUp, Part 2 – The Process
This episode outlines the process from verbal offer to letter of intent (LOI) to the purchase agreement and close. Hear about the steps in the acquisition process as well as how it felt like. The excitement, the fear, the stress and just navigating a big process for the very first time.
Selling GatheUp, Part 3 – The Transition
Lastly we looked at what took place after the sale. I wanted to stay on as CEO of GatherUp after the acquisition as I felt it was a unique opportunity to see how 6 other SaaS products were managed and operated. Getting to see the roadmaps, churn, growth, marketing and teams via direct access was an opportunity not to pass up.
In this last episode of the three, I talk about what changed, what stayed the same, and what challenges are a part of this big transition.
What An Adventure
It’s easy to look back now and see the incredible adventure everything was that led up to this event. Working on a SaaS product, building a team, rebranding, landing new clients, and then having the hard work pay off with crossing the finish line was unreal.
In the end though, the things that really stay with you are people you worked with, the problems you solved and the joy of winning together. For me personally, leading GatherUp to growth and an acquisition was an incredible journey, one that myself and my family could be proud of.
Oh yeah, and that family vacation in San Diego was incredible but it did still take me another 3 full months to truly wind down from the process of the sale.