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The Acquisition of CMX by Bevy: Building a Strong Community Partnership
This chapter explores how Bevy acquired CMX, starting with their sponsorship of CMX events and the development of a strong relationship. They discuss the process of exploring different scenarios and aligning the vision of both companies before deciding to move forward with the acquisition.
"For the first time in a decade, I feel free again." That’s how one of my earliest blogging friends, longtime community leader David Spinks, was feeling when I caught up with him in-person in the middle of his yearlong sabbatical, after selling his community-based business.
David and I discuss best practices for creating and nurturing communities, for engineering serendipity, what it’s like to build and run a conference (and later sell it), and the freedom that comes with taking a deliberate sabbatical.
More About David: David Spinks is the author of The Business of Belonging and a popular weekly newsletter for community creators. Previously he co-founded CMX, the leading network for community professionals that was later acquired by Bevy.
A 2015 study set out to discover how serendipity occurs. Through in-depth interviews, they uncovered the 4-step process (edited for clarity):
And there’s one more factor. . . for serendipity to occur, there must be an 🧵 “unexpected thread” throughout the experience. The more unexpected each step feels, the more it will be perceived as serendipity.
To say no to virtual meetings!
If you run a community, build a process to facilitate random encounters: Introduce mechanisms that encourage serendipitous connections among community members. For example, you can implement a "random pairing" feature that pairs members together for one-on-one conversations or create opportunities for members to showcase their work or expertise.
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