How I sold my SaaS, Supportman

How I sold my SaaS, Supportman

Jun 25, 2021 04:49 PM
Read Time in min.
This is the story of how I sold my side biz @supportmanHQ in 5 hours.
And I'm going to share all the details... including price!
As Potion grew and it became my focus I had been thinking that it might make sense for me to sell @supportmanHQ. I haven't spent much time on it and it passively grew to $400 MRR. I made this tweet sharing the idea.
I received some interest so the next day I decided to go ahead and go for it! I submitted Supportman to @microacquire (amazing platform btw). and I created this little one pager website with the details of the business.
I got some interest right away. Half from twitter and half from @microacquire. Probably around 10 people in all.
And then I got this message from the one and only @damengchen!
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I have actually gotten to know Damon for a little while now. We are in a slack group with some other awesome #buildinpublic makers. And I misunderstood him and thought he was saying what he "would" do.
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Until I realized he was being serious! 😂
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We went back and forth a bit seeing what the deal could look like. It was really friendly and there was a lot of emoji ussage.
It was like two friends trying to help each other out and make sure a fair deal happened that benefitted both parties.
And here was the final negotiation.
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I don't even know what that mustard was but it sounded good.
And that was it! We had a deal for @damengchen to buy 100% of @supportmanHQ
for $27k!
We didn't know what to do next. But thank you @agazdecki for your help! His support to founders selling their businesses is truly amazing!
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We worked together to build out an Asset Purchase Agreement and we had it done and signed just after midnight! It almost all happened in one day! 😮
We both have businesses to work on so its great that we could get this figured out so quickly and not waste our time. What made this deal so amazing is trust. @damengchen is such an amazing maker and I have so much respect for him.
I'm excited to see what Damon does with Supportman. Thanks for following along the journey! 🙏