Kirk Simpson's Journey: From Startup Challenges to a $537 Million Exit and Beyond

In this episode of Marketing Spark, Mark Evans sits down with Kirk Simpson, co-founder of Wave Accounting, which was sold to H&R Block for $537 million in 2019. 

Kirk shares his journey from Wave's early days, detailing the inspiration behind the company and the challenges faced while growing it into a successful business.

Key highlights include:

• Origins of Wave Accounting: Kirk and his co-founder James Lochrie's vision was to simplify financial management for small business owners, inspired by Mint’s innovative approach to personal finance.
• Challenges and Successes: The duo faced initial struggles with funding and market penetration but eventually succeeded through strategic positioning and a fortunate feature in the Google Chrome app store.
• Free Model and Product Development: The advantages and pitfalls of offering a free product and the importance of continuously improving the product to meet user expectations.
• Venture Capital Journey: Insights into raising venture capital, the adrenaline and focus it requires, and the importance of telling a compelling business story.
• Acquisition by H&R Block: The process and emotions involved in the acquisition, including the challenges of transitioning from a startup to an acquired company.
• New Ventures: Kirk's latest entrepreneurial endeavour, GoConfirm, is an identity verification platform to enhance trust in peer-to-peer transactions, particularly in marketplaces like Facebook.

Kirk’s story is a testament to the rollercoaster ride of entrepreneurship, highlighting both the highs and lows and offering valuable lessons for aspiring entrepreneurs.