Playbook: How to get Acquire'd with Andrew Gazdecki

Foreign so welcome to the acquire.com webinar and really my goal with this presentation is to really unveil how we help startups get acquired for seven, eight figures. Really life changing acquisitions were mainly known and prior as the marketplace that helps smaller startups sell. But we really do help facilitate multimillion dollar transactions. And that's my goal for this webinar is to really teach you that playbook and what we do do specifically help startups get acquired for millions of dollars and which is most of the time a life changing transaction. So when you come on acquired.com, we put founders first so you can achieve that outcome and really maximize your exit. And I'm going to be going over exactly how we done that for a number of different companies. So I'm going to be going over real case studies of acquisitions that we've done including cosmetics, Flockler, growth bar, my works. And then with that we'll do an introduction what we do, the importance of seller readiness. So being prepared as you go to market to speak with buyers, valuation, that's always a fun topic and I'm going to be telling a lot of things that really the things that you need to hear, not that you want to hear and I'll just kind of get it out of the way. Right now your startup likely isn't worth 20 times revenue. Unfortunately I used to think that exact same way as a founder, but we have data that supports proper valuations and guidance there, but then also some strategy too. So when you go to market you want to have a acquisition strategy and a big part of that is timelines and stage gating and so you may not know what that means now, but stay till the end. I'll definitely go over how that works. And so when you're prepared, you have the correct valuation, you have the strategy, how do you generate interest and that's really where acquire.com also comes in to market your deal to all the buyers on our network. So without further ado, some quick introductions. This is me, my name is Andrew Gazdecki, like I said before, CEO and founder of acquire.com In a previous life I also founded two different other startups, both acquired business apps and Altcoin. My first startup I started in college and it was a do yourself no code mobile app, drag and drop builder for small businesses. Grew that to about 10 million annual recurring revenue and I was acquired by a private equity firm with just a hundred thousand raised and we were somehow named on Inc's fastest growing companies two years in a row. We actually ended up we stopped submitting information because my phone would blow up and we get all these cold emails from people trying to sell us stuff, but that's not a story. And then I got ink 30 under 30 which made my mom happy. But needless to say, what I'm trying to get here is really we built this marketplace for founders. So as a startup founder, myself and going through acquisitions, I know what it's like. I've been there before, I've gone through due diligence, I've spoken to more buyers than I can even put a number on. I know what it's like to have an LOI fall through. I know what it's like to go through this process not really knowing how to end out on there then with a successful exit. So that's why I started acquired.com and really our mission is to build the world's most founder friendly startup acquisition marketplace. And that's what we have been doing. So over the past three years, coming up on four, just last year alone we did about a thousand deals. We've been active in 78 countries, 500 million in closed transactions, over 2,000 listings are currently live on acquire.com and we have over 200,000 registered buyers. And these numbers grow and grow every single months. So on average we'll see 15,000 or 20,000 or 30,000 new buyers register a month. So every single month we're adding more liquidity to the marketplace to make startup acquisitions more efficient. We've also been featured in places like any hackers, entrepreneur, Axios, Crunchbase, Forbes, Business Insider, Fortune. So if you haven't created an account on acquire.com to list your business to start meeting with buyers, I definitely recommend you do that. And I'm going to dive into the items of when you do that, how do you do it in a way that maximizes your chance of getting acquired? But more importantly, how do you do it in a way that maximizes the exit value so you can have the the highest price when you go and do successfully sell your business. So what do we do? So we have a marketplace, we have technology that auto builds legal documents, auto builds a P and L for you. You can showcase your real time financial metrics, but we also have a service that we've added to the business that not a lot of people know about. And so we really break that down into three parts. And so the first one would be perfecting your listing. This is the first thing that buyers are going to see, this is their first impression. And so we work with you hands on to give you tips, show examples of other startups have been acquired and the materials they have, the things that they mentioned, the items that really draw in buyers. And then we also prep you to go live. So we coach you in terms of how to speak with buyers, what are some common questions, what to expect. So when you go to market, you don't feel like you're all by yourself. And if you have a question, you don't have anyone to go to. We have a full team of M and A advisors now@acquire.com to assist you every single step of the way, all the way until you close through escrow and the wire hits a bank and you can finally celebrate and then also marketing your listing. So with our vast network of buyers, over 200,000, we're able to get your, your startup in front of buyers faster, more efficiently than I'd like to think any other company in the world. So how do we do all this from more of a tactical level? So one thing that we do is we give listing scorecards to startups when you list on acquire.com so if you're not familiar what that means, I'll break it down for you. So what we'll do is when you sign up on acquire.com create a listing, you enter in some items about your business, and you might not know if it's the perfect way to position your business to buyers. So we'll go in there and we'll look at things like the health of your business, the metrics that you're showing, your business profile, your level of preparation, and then we'll give you grades. So essentially this is homework for you to improve your listing to again, really capture the most amount of buyer interest that you possibly can. So we'll review your P L, we'll review your transition guide will help you complete your seller profile and also your listing too. So another thing to add too is when you do list on acquire.com we go through and we'll actually clean up the listing with our team. So it really appeals and stands out to buyers, especially with what we know that buyers are really looking for when they're skimming the marketplace for businesses just like yours. So if you're interested in a listing scorecard, what you have to do is sign up on acquire.com, complete a listing and then submit it and that'll route to our M and A advisory team. So we can go through this so we can look at the health of your business, the metrics, your profile, and then give you tips and guidance on how to improve each area, because each part of these areas is so, so, so important because you only get one shot at that first impression with buyers and it's really hard to get it back. So our job@acquire.com is to make sure that when you go to market, you look as best as you possibly could and that again increases your chances of getting acquired. Now when it comes to valuations, so this is always a topic that a lot of people are talking about. And this is really, I would go as far as saying the number one reason startups don't sell on Aquaticom, they price too high. And the reality is, is if you look at this graph here, so we have fair market value here at 60%. So what this means is if you mar, if you price your startup on acquire.com and you go to market and it's at fair market value, you're going to see about 60% interest from serious buyers. Now if you just discount that 5%, you get a 20% jump to 80. If you discount that 10%, you get 92. And then on the flip side, if you overprice by just 10%, you're only going to see about 2% of serious buyer interest and that's just 10%. So even if our valuation of your business is wrong, our opinion of value, really what you can do is you'll have so much buyer interest that you're able to negotiate up with other buyers on what's important to you. Is it price, is it terms? Is it the type of buyer that you're working with? Do you want to sell to a strategic buyer? Do you want to sell to a private equity firm that has no nonsense due diligence and it's the 30 day process. But really pricing your startup is one of the most critical factors in having a successful acquisition. And through the multimillion dollar deals that we facilitated, this has been a common theme in terms of showing buyers that you're serious, you understand what your business is worth and that you're open to having a fair conversation around the value. And we're also here to give you that opinion of value. So this is just an example of, you know, based on whether you're profitable or if you're not profitable, we'll have evaluation that will give to you as a guide. And that's based on all the data that we've captured from the thousand plus acquisitions that we've done. And again, it may not be the price that you want to hear, it may not be that. And I used to Again, I remember the days of building my first startup business apps. It was just take your revenue, times it by 10, and that's your acquisition price. And yes, startups do get acquired for that price, but it's the outliers, it's the ones that you hear about in magazines. But the reality is, typically you'll be trading for less than that, and that's perfectly fine. But just having an understanding of if you want to be successfully acquired, you really want to take in the mindset of, okay, this is what I need to hear, not what I want to hear, because one will lead to a successful acquisition, the other will not. So now that we have, I've gone over, how do we prepare you for an acquisition? How do we go through different things to make sure that you're prepared before you go live on the marketplace? How do we value your business and the importance of it? What does that look like when we finally talk to you and we speak to you about the value of your SaaS startup? And I should know, we work with a number of different startups, including e commerce, mobile apps, agencies, but the same principles still apply. So now, once we have all that out of the way, how do we get buyers to see your, Your, your acquisition opportunity? How do we get them interested? So this is one of many ways that we get you in front of buyers. So we have a general newsletter that we send out to about 202, 200,000 buyers Monday through Friday. And this will drive a ton of buyer interest right out of the gate. And then we also have something called a targeted email feature. And this is a targeted email that sends out once per weekday for a specific startup. And what we do with these emails that are a little different is we go through our database and we have a ton of data on buyers, specifically what they're looking to acquire. And so we'll feature your startup to all the buyers in our network that are, for example, interested in a SaaS business doing over a million in revenue with at least 500,000 in profit, whatever it may be, it'll be a targeted newsletter to buyers specifically interested in your business. And these two combined really drives a lot of activity to your listing. So if you do all of this correctly, on average, what we typically see is 30 to 58 NDA signed within the first two weeks. So what we do is we send a lot of buyer interest to your listing all at once. And I'll tell you why that's important in just a minute. You want to have a lot of buyer interest right out of the gate. And that's what we do@acquire.com better than any other company in the world. And then that leads to around 5 to 10 really serious buyer meetings. And what is a buyer meeting? That's where you're getting on the phone with them. You have to sell your business. You have to point out the good parts, the bad parts, the things that will be shown as growth opportunities, things that you're doing really well. What does your product roadmap look like? Do you even like this buyer that you're going to be interacting with? And so that dwindles down to. So we start at the top. You know, think of it like a funnel. So we advertise your deal privately to hundreds of thousands of different buyers, and then that turns into, let's call it 50 NDAs signed by Serious buyers. And then out of that, based on your responsiveness with buyers. And again, you have to sell the business. You have to get them excited about the business. You have to communicate with the buyer. You have to push for the meetings. And this really helps you stand out against other businesses that are for sale by being willing to have these conversations to address questions that buyers may have that may not be on your listing or within your private detail section, which is essentially a mini data room when you go to sell on acquire.com and so once you have all this, so you have 50ndas. Let me start at the beginning. So you have a beautiful listing. We've helped coach you on, really, the acquisition process. Now you've gone live on the market. We've showcased your startup acquisition opportunity to hundreds of thousands of buyers. You're starting to see a lot of interest now. So one process that we coach founders on@acquire.com is called a stage gate process, also known as a deal schedule. So in this example, what we do is we schedule timelines for each major step, all the way to a formal offer. And so let me break down why this is so important. So you one thing, one big mistake that I see a lot of founders make is they'll get an LOI, let's say right here at June 1st, and then they get another LOI. And LOI stands for letter of intent. So that's a formal offer to acquire your business. Then you get another loi a month later, and then you get another loi a month after that, or whatever it may be. And what's really hard about that is there's a saying, if you have one buyer, you have no buyers. And so what you want to do is you want to control the process and control the timeline and get all buyers on the same page. So in this example, we have a deadline for booking a briefing call. So this really creates urgency with buyers to review your business, review the materials that you've sent over, review and schedule a call with you to kick things off, and then maybe two weeks after that. And these are all customizable dates based on the opportunity that you're looking to have acquired. And so first call June 1st, and then by June 14th, you're looking for indicative offers. Indicative offer is typically referred to as an ioi. It can be as simple as just an email that says, hey, we're thinking of this range, or we're thinking of 80% cash, 20% seller financing, whatever. It may be just some sort of indication that they're moving towards a formal offer. And so you put timelines on this. And then ideally, if you do this all correctly, all of your Lois come in at the same time. Now, why do you want all of your Lois to come in at the same time? Because it gives you leverage when they all come in at the same time. You're able to negotiate with buyers on the things that are important to you, like I mentioned earlier, such as the terms, the deal structure, the price. And if you have Lois kind of coming in scattered, you never really get that opportunity. And so this is another thing that our team coaches you on. When do you propose a deal schedule? What should the dates be? And so by talking to our M and A team, we help you with every single step while you're going through this process to really get the most amount of offers, formal offers on your startup that we can get through our our buyer network. And if all done correctly, you know, the ideal amount is typically 3 to 5. Lois, sometimes we've seen way more than that, but that's a good amount that allows you to work with the other buyers to let them know that you have other offers on the table and gives you some leverage to negotiate against points that are important to you or more importantly, really helps you flesh out a buyer that will not reprice your business at the last minute or will actually close acquisition. Because getting an LOI is just the start of the journey into due diligence, escrow and close. And those are other items that we assist with as well. So kind of the main theme of all of this is we have your back. We are there for you. We have a full M and A advisory team that will assist you with setting up the strategy and executing it to perfection. So you do get Acquired. So to kind of summarize everything that I've just been saying so in three steps. So we improve your listing. So we help ensure that you have a beautiful profile, you connect your metrics, you have a reasonable valuation, a P L is available. Common questions you're aware of what buyers are going to ask. We'll help pre finance your startup with a third party financing partner that we work with and then we coach you as a founder. So we coach you on how to handle buyer calls, how to handle due diligence items, how to use certain tools like a living Q and A. A living Q and A is one of my favorite documents. It's essentially you'll hear a lot of the same questions from a lot of different buyers. And so it's best to put them in a single document and we call it a living Q and A. And then you just share that with every single buyer. Even if they don't have that same question, it just gives them more information. Because your goal during an acquisition process is to reduce the risk of the acquisition as much as possible and show the buyer that you're responsive and you have a plan together and you're able to answer questions quickly because this really is sort of a, a peek into what due diligence is going to be like when they start going, when you start diving into a little bit more nuanced parts of your business. And then also things like a transition guide. So this one's huge because a lot of buyers want to know, have you thought through how are you going to transfer the assets? How, what services are you using, where are you hosted, what needs to be transferred over? So this could be, I'm using AWS for hosting, I have Sendgrid to send my emails, I'm using Stripe for my billing system. All the items that you're using to run your startup, you have a transition guide and a plan that just makes buyers lives a lot easier in terms of okay, if you acquire my startup, here's kind of a rough plan on how we could transfer all these things over and we help put that together for you. And we have example documents for due diligence, living Q, a transition guide, deal schedule. These are all templates that we give you when you go or prior to going live on acquire.com so you're successful. And then we're also available for help. So any questions that you have along the way from how does my listing look? How do I answer these buyers? From a question all the way to can you review my letter of intent? That I just got. And so those are all huge value ads that we've added to acquire.com to again assist you so you can really achieve those life changing outcomes. The seven, eight figure acquisitions that we love to facilitate. And then the third part is marketing listing. So this includes the newsletter campaigns that I just went over or the social media posts, the targeted buyer campaigns. And the main point here is we drive a lot of buyer interest, a ton of buyer interest. And that's kind of the key is the more people that see your your acquisition opportunity, the higher chances of getting acquired. And when you combine that with the level of preparation and coaching and having a strategy before going live, that's what leads to successful acquisitions. And that's what we do@acquire.com and we do that through our M and A advisory team that's available to assist startups every step of the way. Again all the way from fin start to finish. Or I guess I should say from start all the way to exit. And so I'm going to give some real case studies on. We've run this playbook with so many different startups, but I pulled out some that I personally really enjoyed working with. So this was a startup that I actually worked with. I worked with Jen at kissmetrics and they were a behavior advanced behavioral product analytics tool for marketing teams. Essentially like Mixpanel, Google Analytics competitor founded in 2008. The revenue multiple that it sold for was more than 2x. But then the acquisition details, the timeline it took from start to close was about a month. They had about 45ndas and the deal structure was all cash. And so if you again do all these things right and every piece of advice or guidance that we give you is based on seeing so many different acquisitions and if you follow our advice and our guidance, you dramatically increase your chances of getting acquired. Another example would be Growth Bar. So this was the AI powered writing assistant tool for SEO optimized long form content. Another SaaS business founded in 2020. Their revenue multiple was 3.6x. So great business, great founder. And the timeline for this was two months. So they found a buyer very quickly. They went through quick due diligence. They had 45 NDAs signed and this was also an all cash deal and it was sold to XO Capital, which is a private equity firm. So again, when you have a prepared listing, you are ready to go live in the marketplace. You've done your homework, you've planned a strategy in advance for when buyers do begin to reach out with questions and you really do your Best to de risk acquisition. You can get acquired in record time for all cash on acquire.com. another one is this one was done by Paul Kelly who's on our team, one of our fantastic M and A advisors. And so this was a tool keeping e commerce and accounting platforms in sync by automating and customizing Data entry. Another SaaS business. The revenue multiple on this was 2.5x and this was a larger acquisition. So this was sold to SaaS Group which is a pretty large private equity group that we work with fairly often. And the timeline was four months. Sometimes acquisitions can be longer given the size of the acquisition. Typically the larger the acquisition the more stakeholders that are going to be involved such as if you have a board, if you have investors, if you have whatever it may be there's, there's just typically more people involved as the the sale price increases. So this one took four months but same thing, 44ndas. And the deal structure was cash seller earnout and also seller financing as well. So successful acquisition, founder couldn't be happier. Private equity firm couldn't be happier. And another example would be conch. So this was a AI transist transcription platform for speedy and cost effective audio and video services. Founded in 2018. Another SaaS business that sold for a 2x revenue multiple. Now I work personally with this one as well and so by running this strategy, so by just getting in the trenches and really working with founders, we've really perfected this process that helps you get acquired more efficiently, easier and without headaches and really again letting you know that we have your back, that we're here for you, that we're going to be ensuring that you are able to maximize your exit and not just sell for whatever someone is looking to pay. And so the details on this one took about three months. They had over 100 NDAs and then the deal structure was major cash on close and then a 15% two month hold back and it was sold to an individual buyer as well. So on acquire.com you can sell to public companies, you can sell to VC backed companies, you can sell to large private equity firms or even individual buyers as well. And so another large acquisition that we did and this story I I really like. So this was a another deal done by Paul Kelly on our team who's absolutely fantastic. And this was a self service platform for making marketers analyze and display social proof better. And so founded in 2011 SaaS business. The revenue multiple on this was 3x and this was a large acquisition so it took about 6 months 37 NDAs signed deal structure was majority cash at close and then a 10%, 12 month holdback and it was sold to Relay Commerce, which is another really large private equity firm that we work with again on a regular basis. And so when you list on acquire.com if you're able to get your your ducks in a row, that's something that we help with every day. Even right now, we're helping founders set up their listings, giving them advice and guidance on how to really capture the most buyer interest. And then we help coaches founders on how to handle buyer conversations, how to really maximize their exit. And then we do that all the way until it's finally a closed acquisition and it's a success story. So in terms of our July 2023 performance, we did 92 acquisitions. So 92 acquisitions were closed alone in July. That accounted for 35 million in total transaction volume. And as of right now, we have over 200 plus deals under offer. So what that means is we have 200 plus startups that we're working with right now that have signed Lois that are in due diligence, that are headed towards close, and we help each of these startups ensure that those lois turn into successful acquisition stories, because that's what we love to do. We love to help startups get acquired and we love to help startups maximize their exits, and we love to help founders really get that life changing acquisition that we all dream about when we start our companies. And so with that being said, get your free listing scorecard today. And the way to do that is to sign up on acquire.com, create your listing, and then once that's submitted to our team, we'll reach out and we'll set up a call and then we'll walk through any questions that you might have about this acquisition strategy. Our process, just so you know that we're here to help you, we have a collective knowledge of thousands of acquisitions being done and we know what works, we know what doesn't work, we know red flags to avoid. And so when you do go to market, you can rest assured that you're prepared and that will help you maximize your chances of getting acquired and helping you maximize your final exit price as well. So without further ado, I'd love to go over just some common questions that people might have. So if you have questions, feel free to put them in the comments. Is there an additional cost associ associated with the services you've detailed out in this playbook? No. So this is available to startups that list on Our platform and our incentives are aligned with yours. We want you to get acquired. And so we built out this playbook specifically to help larger startups get acquired because there's a level of complexity, there's a level of expectations from buyers. And so the more that we can help close the gap of buyer expectations and seller expectations or seller preparedness and what buyers want to see from sellers to really, really have the serious conversations, that's what we do. So there's no additional cost at all for these services. Another question coming in. How important is it to have a P and L completed by the time of listing? Can you help with that? Yes, it's something we can help with in terms of recasting a P and L. So that could be going through your P and L and looking for ways to do something called add back so you can get to if you're a really profitable startup. As an example, we'll go through the P and L and we'll review it with you to see if there's any items that you can place in the line of profit known as seller discretionary earnings. But in terms of how important is a P and L, that's the first question that buyers are going to ask is do you have a 36 month P and L that I can look at? Because that really gives them a snapshot on the health of your business. How's it doing? Is it losing a bunch of money? Is it extremely profitable? Is it break even because you're investing everything back into growth? So P and L is extremely important. So definitely have a P L. If you're looking to achieve a 7, 8 figure outcome, it's. I would go as far as saying it's, it's required. Another question coming in. I believe my business should be priced at a certain amount. Will you still allow me to list if I don't take your recommendations? So this one, no, we actually won't. And the reason for that is we have so much data that, you know, again, going back to my early days as a founder, I would look at other competitors and say like, well, they got acquired for this amount or this multiple. But that's just not how acquisitions work. It's, it's a comparable. Sure. But you're not factoring in is that business at scale or, you know, when we talk about my business should be worth 10x, you gotta ask yourself, why would your business be worth 10x revenue when public companies are trading at 6x? So that's businesses at scale, growing at scale, doing hundreds, if not billions of dollars a year in revenue. And so those are really de risked businesses. So the more you can de risk your business, the, the, the higher valuation you can command. But no, if you list your startup and you want to list at 20x revenue to avoid a bad experience on our platform, we won't allow, we'll tell you kind of where we, we'll give you a range in which we'll allow an upper end and kind of what our recommendation is. But we do that because we want to have successful acquisitions on our platform and not letting you down by saying, oh yeah, 20x will sell. Because that's us telling you what you want to hear when what you really need to hear is hey, here's all this data, here's all these success stories of other startups and this is how we were able to facilitate, facilitate these acquisitions. So we recommend this valuation. So this is something that will work with you on as well, hands on with our team. Another question, if I don't have a listing, can you still score my business? Good question. No. So we can. So the only way for us to give you a listing scorecard is if you create a listing on acquire.com and then submit high level details of your business. Submit it to our team and then that's what we're actually grading. We're grading the listing. So you got to complete the listing first. Takes about, you know, 20 minutes and then from there we can really say, hey, you don't have a P L. Hey, you're like, you should really highlight these parts of your business. We do a full deep dive in your business because you might have some things that you may not know buyers really love. Like you have fantastic reviews. You should showcase that you have, you know, logo clients that logo clients or you know, customers that people will recognize. Those all add value and really help buyers get excited about your business. And so we'll point those things out. Almost all examples seem to be SaaS businesses. Do you help all business types? Good, good, good question. So we help all online businesses currently. So Whether you're a SaaS business, that's our sweet spot. But we also work with a number of e commerce companies, mobile apps, agencies, tons of different types of businesses, Shopify apps. The main theme though is typically the best businesses that we work with are SaaS, businesses with at least a hundred thousand in profitability. Because if you're losing money as a startup, what I highly recommend doing is trying to get to break even and profitability and make the hard decisions now. Because if you're losing money on acquire.com, you're essentially a liability. And so what I mean by that is a buyer will look at the business and they'll just give you probably a low offer. And that's because the first thing that they're going to do is they're going to have to go in and restructure the business, restructure costs, and reduce them to the point where you're either at break even or profitable. And so I highly recommend making those decisions before you come on to acquire.com, but profitable businesses and all the examples that I showed you were profitable or essentially break even. So you don't want to have a business that's losing money. You want to find a way to get to break even or ideally profitability. And that's where you get, you know, 50 plus NDAs and hundreds of buyers interested in, in your business. Another really good question. If I'm currently working with an M and A advisor or a brokerage firm, can you still help me? Yeah, we can. So if you're working with an M and a advisor or brokerage firm, you can still leverage our, our buyer network. But what I'd recommend doing is, you know, talking to brokers, talking to M and A advisors, and then also talking with us. You know, our, our process in terms of helping startups selling really works. And again, the power of it is just the massive buyer network because again, going back to the quote of if you have one buyer, you have no buyers. We are able to drive way more buyer traffic. So we actually do work with a lot of brokers and MA advisors. So the ones that are going to charge you 10 to 15%, we work with them and we also coach them at times in terms of how to, you know, adjust their listing. So we actually will do this for brokers and M and A advisors, and then we drive massive buyer interest. And then that's where all the magic happens and a successful acquisition is achieved. I'll answer one more question and then maybe we'll wrap this up in terms of what is our fee structure? That's a great question. So we just charge 4%, just a flat 4% fee, regardless of the size of your business. So just super simple 4%. And that's only due at closing. So no upfront fee, no monthly fee, no retainer, none of that. Someone's asking. Can you filter the type of buyer? Absolutely. So when you list on acquire.com, we have a number of really interesting features that really help you due diligence on the buyer this is a good topic. Um, so buyers are obviously going to do due diligence on your business, but on acquire.com when you list buyers come in and they will only have access to your private details if you give access to them. And I can show you an example of kind of how that all works as well, if it'd be helpful. So this is an acquisition that I also facilitated, and this is basically how your listing is going to work. And so this is a company called Revenue Accelerator that recently was acquired and we helped with all these items. But everything on the left hand side is completely private, so there's no mention of the company name. And then to gain access to all these different types of documents that we share with you, you have to give the buyer access by clicking Approve after they've signed the NDA. And so when you're looking at different buyers to potentially speak with, you're able to see have they verified funds, what acquisitions have they done in the past? Their LinkedIn profile, you're able to really get a sense of is this a serious buyer or is this just someone who's looking to just waste my time? So we give it a number of different tools to help you make sure that you're only speaking with serious buyers. And then. Thanks, Roger, for the shout out. Yeah. If anyone has questions that we didn't cover, we'll do a recap after the event, so don't worry. And then we also have a support team. So if you want to email in your questions to our support team, we're happy to assist there, but I guess I'll end it on this note. So here's what I want all of you to do. If you have, I guess, in the chat, could you mention, do you have a business right now that you're looking to sell? All right, I've seen a lot of yeses, so I'm just going to assume a lot of you. Maybe you're thinking about selling in a month, maybe you're ready to sell now. Maybe you're in a position where you have a great business and you want to capitalize, and right now is a really good time to sell your business and. Or maybe you want to start preparing now. And that's something that I recommend if for everybody. So after this webinar, go on acquire.com click sign up in the top right and complete a seller profile and submit it to our team. And we'll reach out to you, we'll set up a call, we'll go over your listing, we'll make sure that you're comfortable with how the whole process works, how to speak with buyers. We even have a, essentially a tutorial of how to sell your business that I personally created after brokering deals as an M and a advisor myself. And so this isn't stuff that we think works. This is stuff that we've used to actually facilitate multimillion dollar transactions. So I think I'll leave it on. On that note, I hope you all enjoyed this webinar. We're going to be doing a lot more of these, but just want to give my hats off to just every entrepreneur in this room. I know, I know what it's like. I've been there. It's, it's, it's a hard, hard process. Hard game acquisitions are confusing and we're here to help make that process easy, smooth and most importantly, successful for you. That's why I started this company. And so working with us, I can guarantee you that as an entrepreneur myself, we will make sure that you're able to really maximize your acquisition and really get that life changing outcome that you deserve, that you've worked for. After putting, you know, so much work and effort into your business, we want to make sure that it gets acquired by someone you can really be proud of. So without anything else, I just want to say thanks for attending. I know it's probably late for a lot of you and hope to see you all next time. And again, thanks for joining. It's pleasure to have the opportunity to help startups all across the world get acquired and just humbled that so many people attended this webinar. So thanks and we hope to hear from you soon. Cheers everybody.