Acquiring Company Text to Simplify Messaging Apps

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The acquired company, Text, consolidates 20 messaging apps into one secure power user app with a desktop-only interface focused on ultra-security and encryption without running anything in the cloud. The decision to acquire Text was driven by the need to address the deficiency in managing messages efficiently. The product is currently available on desktop for $15 a month, with plans for a mobile app release in the near future and potential exploration of different pricing models.

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Matt Mullenweg (@photomatt) is co-founder of the open-source publishing platform WordPress, which now powers over 40 percent of all sites on the web. He is the founder and CEO of Automattic, the company behind WordPress.com, WooCommerce, Tumblr, WPVIP, Day One, Texts, and Pocket Casts. Additionally, Matt runs Audrey Capital, an investment and research company. He has been recognized for his leadership by Forbes, Bloomberg Businessweek, Inc., TechCrunch, Fortune, Fast Company, Wired, University Philosophical Society, and Vanity Fair.

Matt is originally from Houston, Texas, where he attended the High School for the Performing and Visual Arts and studied jazz saxophone. In his spare time, Matt is an avid photographer. He currently splits his time between Houston and San Francisco.

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[00:00] Start

[05:12] The Argentine Dr. Mullenweg.

[08:15] Open source.

[10:19] Secret hiring.

[12:59] Matt is always on tour.

[15:14] Texts.

[17:39] How Matt chooses his next project(s).

[21:51] Building a digital Berkshire Hathaway.

[29:01] Why Matt’s excited about messaging.

[32:03] How Matt discovers companies he buys.

[32:53] RIP, Charlie Munger.

[33:28] Worthy rereads.