This is a YouTube video titled "Send and receive a 'letter of intent' within MicroAcquire" created on June 24, 2021. The content is a demonstration by Andrew Gazdecki showcasing a new feature on the MicroAcquire platform that allows buyers and sellers to send and receive letters of intent and complete startup acquisitions seamlessly within the platform. The video explains the process from both the founder's and buyer's perspectives, highlighting the integration of legal documents and the vision for end-to-end transactions on MicroAcquire.
How's it going, Andrew from Microacquire here. And I'm really excited to demo the feature that we launched today to allow buyers and sellers to send and receive letter of intents right within Microquire. So I'm going to demo how that works. So this would be me logged in as a founder. This is my startup listing. I have all my details, my private details are contained in this area here, only accessible to buyers that I grant access to. Now switching over to a buyer view. So now I'm logged in as a buyer and let's say I have interest in the startup you just saw. I'm going to go ahead and send a message such as, hey, I'm really interested in acquiring your startup. So now that message is going to be sent over, I'm going to go back over to the seller view. So now what I'll do is I'll go to my income area and I can see this chat right here. That's me just sent this message. Awesome. Can you send over a letter of intent? And guess what? I definitely can. So now moving over to the buyer screen. So now I'm back in the buyer view. I'm going to go ahead and submit a letter of intent. And in this you can contain information about the terms of your deal. Like, hey, I'm really excited to submit this oi to you. The basic terms are, I don't know, let's just make it up. 500k up front. 500k over 12 months. Just completely making it up. Looking forward to working with you. Cheers. Now this is going to be sent over to approval to me as a seller now. So now when I flip over to the seller view, I now have a letter of intent. So I can click this right here and confirm this. So I just got this message from this guy, Andrew Gazdecki, and I can confirm this letter of intent. And now this is going to put the startup under offer. So when I go and I view this deal as a buyer, you're going to see that now that the startup is under offer from Andrew Gazdecki and from the buyer view, I can see that my letter of intent was accepted. And when we're ready to complete the transaction. So as a founder, everything looks good, we're on good terms, we've gone through due diligence. Now the deal is ready to complete. You can basically complete the startup acquisition and mark the deal as sold. All within Microquire. And that's that. And some other cool things too, is if you need legal documents, we've also now included templated NDAs, LOIs asset purchase Agreement, a number of other different documents to just really streamline the ability to transact within Microacquire. So this is just the beginning. We're going to be building these documents into Microacquire, so hope you guys are just as excited as I am about this feature. We've been working really, really hard on it, and this is really just the beginning of really what our vision is for Microacquire to allow founders and buyers to transact and complete acquisitions end to end on Microacquire without ever having to leave the platform or marketplace and really just make it as seamless as possible. So let would love to hear your feedback and hope you're excited too. Cheers.
