I have selected this particular exit strategy because of the financial constraints I am currently under and the future of the app if it were to be purchased by a larger company, such as yelp. If I were to sell the company, I would also ask to remain a stakeholder to benefit from the apps growth once it is in the hand of a much larger company.
This exit strategy has definitely influenced my actions for building the app. Originally, we were going to source all of our own reviews, however, now we're using yelps reviews in our app, so one day they can buy us out. Yelp is constantly buying smaller companies to increase their portfolio and I would have no problem being another one.
Hey Drew. Nice work on this assignment. I think that planning to sell your application if the opportunity arises is a good idea. It would be awesome if Yelp was interested in purchasing your company, but unfortunately it would be very difficult to reach that level of success. If you are interested, here is a link to my blog post, http://parkeruf.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHey Drew!
ReplyDeleteI think that is a brilliant strategy. Rather than making a lump sum of money on the purchase by Yelp, you maintain equity and reap the benefits from your creation for years and years to come. To aspire to work with Yelp is impressive too, highlighting your work ethic and drive to make this successful. Keep up the great work man! Here is the link to my exit strategy. http://adventuresofentrepreneurship.blogspot.com/2016/04/my-exit-strategy.html