Grow Your B2B SaaS S6E17 - Acquisition Was 99% Done… Then They Backed Out. Here’s What I Learned.
Welcome back to another episode of the "Grow Your B2B SaaS" podcast. In this episode, the host, Joran, takes a unique approach by interviewing himself. This episode is particularly personal and fresh, as Joran shares a recent experience involving an acquisition that was 99% complete before it unexpectedly fell through. The purpose of this episode is to provide insights and lessons learned from this experience to help other founders navigate similar situations.
This episode offers a candid look at the complexities and emotional rollercoaster of an acquisition process that almost reached completion. Joran's willingness to share his experiences provides valuable insights for other founders who may find themselves in similar situations.
Key Timecodes
(0:02) – Podcast Introduction by Joran
(1:13) – Acquisition Collapse
(2:23) – Background on Reditus
(3:33) – Reditus Business Model
(4:45) – Bootstrapping Challenges
(5:59) – Growth Strategies and Clients
(7:11) – Free Trial Model Changes
(8:30) – Acquisition Interest and Initial Offer
(10:52) – Acquisition Process Begins
(12:09) – Acquisition Offer Details
(13:20) – Negotiating the LOI
(14:31) – Earnout and Upfront Purchase Price
(15:44) – Legal Advice and LOI Signing
(17:53) – Due Diligence Process
(19:09) – Creating a Data Room
(20:25) – Technical Due Diligence
(22:57) – Share Purchase Agreement (SPA) Negotiations
(24:05) – Concerns About Financing
(25:17) – Delays in SPA Finalization
(27:35) – Office Meeting with Buyer
(28:41) – Cultural Differences Noted
(30:47) – Termination of Acquisition
(31:54) – Waiting on Financing
(33:12) – Mental Preparation for Acquisition
(34:22) – Request for Stripe Account Access
(35:35) – Termination Call and Reasons
(36:54) – Impact on Team and Employee
(37:54) – Legal Fee Reimbursement and Next Steps
(38:59) – Considering Further Legal Actions
(40:09) – Key Learnings from the Process
(41:15) – Final Thoughts and Advice