Back in 2013, Dave Ripley became fascinated with Bitcoin. The cryptocurrency market was gaining notoriety and Ripley and a friend decided to start Glidera, a company focused on creating tools to help developers integrate cryptocurrency.
Ripley and his partner applied for and won a spot in Techstars, an accelerator that takes between 6% and 8% equity in the businesses they accept in return for access to an intensive start-up curriculum and a network of advisors.
They sold another chunk of the company to a group of Techstars advisors and finally sold the whole business to Kraken, one of the world’s largest bitcoin exchanges. In this episode, you’ll learn:
- The difference between pitching your company to an investor vs. an acquirer
- Why Bitcoin is growing as an alternative to the world’s fiat currencies
- How accelerators like Techstars work
- How not to get taken advantage of in the incestuous world of angels
Ripley was able to sell his business just three years after starting it because he knew from the start who the likely acquirers for Glidera would be. Do you know the natural buyers for your business? If not, we’ll develop a list together in Module 11 of The Value Builder System™—complete Module 1 here.
Do You Know An Entrepreneur With A Story To Tell?
We’re constantly on the prowl for interesting stories from owners who have sold their businesses. We look for owners who have sold a business that was generating $1 million or more in revenue, who are willing to share their story candidly with our community. Forbes ranked Built to Sell Radio one of their top 10 podcasts for entrepreneurs and we have more than 100,000 downloads, so your story will get shared with a great community of like-minded owners. Nominate yourself or someone you know today.
At Built to Sell we’re all about shifting the balance of power from the buyer to the seller. If you support our mission, please write a review on iTunes—and if you have any comments or questions you can find us on Twitter and Facebook. Tune in every Wednesday for another episode of #BuiltToSell Radio with John Warrillow.
If you’re wondering what your business might be worth to an acquirer, there is a simple calculation you can use. Let’s call it “The Build vs. Buy Equation”.
Chris Muench started C-Labs in 2008 to go after the burgeoning opportunities presented by the Internet-of-Things (IOT).
What’s Your Business Worth?
Take the 13-minute survey and get your Value Builder Score
The Value Builder Score was inspired by the book, Built to Sell. It was created to help business owners like you build more valuable companies. Join more than 30,000 entrepreneurs by getting your free Value Builder Score, and find out how valuable your company really is.
Get Your Score Now It’s free and 100% confidential.