This is a YouTube video titled "Sending a Letter Of Intent - Acquire.com" created in August 2023. The content is a detailed walkthrough by a single speaker explaining how to use the Acquire.com platform to browse startups, request access, communicate with sellers (including Andrew Gazdecki), and send a letter of intent with customizable terms. The video also covers the seller's perspective on receiving and accepting offers, emphasizing the platform's tools for simplifying the acquisition process from offer to escrow.
Okay. Now after browsing the market, I finally found a startup that I wanted to request access for. So the way I did that was I simply clicked on request access and I assigned the NDA and now I have access to Twitter. So I'm looking at this giant social media platform and I've been communicating with the so called owner Andrew Gazdecki. And some things to note when you're speaking with startups, you're able to have all of your chats in one place and also your deals as well. So you can create different lists for if you're looking at both SaaS companies or E commerce companies, you can create custom lists for that, such as SaaS, 100K, something like that, whatever you need to describe your list. And now what I'm going to do is I'm going to go over how to send a letter of intent to make an offer on this business. So building a letter of intent on acquired.com is extremely easy to do. So we allow you to customize your initial offer with different terms such as seller financing, conditional holdbacks and more. So I'm going to make this a million dollar ask price and the initial closing payment is going to be Hypothetically, let's do 80% on close, 20% as the remaining balance. So actually, sorry, I put 800,000 here. Now I'm going to do seller financing for 200,000. It's going to be paid monthly for 24 months and I'm going to pay 4% interest on that. And I've already added some employees I'd like to keep, such as Elon Musk, additional closing conditions. I need to verify the bots on the platform going to be done in Delaware. So here you can get a high level view of the acquisition offer that you're sending, which is essentially $800,000 closing payment, seller financing of 200,000 additional payment terms, conditional closings. And then if you want to sign this and send this to the seller before you do so, you can also download it and view the document as well. And this is the LOI I just generated on acquire. So going back to now, going back to where I'd actually send loi, I'm going to type in a message to just hey, Andrew is added to acquire this startup from you. We know if you have any questions. And just like that I can send a letter of intent. And so what I'm going to do now is move over to the seller side so you can see how it's accepted on the other end. So essentially this is the seller dashboard. So now I can see that another Andrew Gazdecki has sent me a loi. And so I'm going to view this offer and as a seller, I can view the terms. I understand what they mean. High level overview. I can also download it and then if we're in agreement, I can go ahead and sign it. Now what this does is this will ensure that the seller is only speaking with you with the exclusivity clause. And so now you're off the races and headed into due diligence. And we also have tools that also allow you to create an asset purchase agreement and head all the way to escrow for a secure and safe close. So I hope this was, this video is helpful in terms of the tools that we've built on acquire.com and how you can easily find listings, really making the acquisition process of legal due diligence, escrow and transfer that much easier. And again, just a little sort of preview of what the listing looks like. On the right hand side you're going to see all the private details that I was given access to, which typically includes a P and L, an overview document and any other items that the sellers included in their listing. And that's a wrap.
