05 Jun Built to Sell Radio: Inside Fidelity’s $80 million Acquisition of SkySlope
In 2011, Tyler Smith, one of the top three real estate agents in California, launched SkySlope, a software platform that enables real estate professionals to efficiently manage their transactions, documents, and communication in one centralized system.
Smith successfully bootstrapped the company to around $12 million in annual recurring revenue by 2016, attracting significant attention from potential acquirers. Among the interested parties, Fidelity National Financial emerged as the ideal fit, acquiring 67% of SkySlope in a deal valuing the company at over $80 million. In this episode, you’ll learn how to:
- Use a “put option” to limit your downside in acquisition.
- Deal with employees who feel unfairly treated in an acquisition.
- Avoid the feeling of vulnerability that accompanies the diligence process.
- Distinguish an IOI from an LOI
- Test market a new product effectively.
- Improve customer experience (CX) to grow your company.
- Identify the ideal acquirer for your business.
- Utilize a unique negotiation tactic to increase an offer from an acquirer.
- Ensure success moving from a Letter of Intent to a successful sale.
- Navigate the intricate journey of transitioning from a majority owner CEO to a minority owner.
