A founder explains why he sold BuildFire after 10 years. He needed to return capital to shareholders and had grown distracted by a side e-commerce project. Running two businesses at once became unsustainable.
Well, let's move into the acquisition part. What made you want to sell Buildfire. So you know, when you raise capital, I mean at a certain point you have to return capital to shareholders. So you know, kind of around the 10 year mark, you know, they're looking for liquidity. And then you know my E commerce project which was like a side project became you know, increasingly bigger and bigger. So you need to focus on that. So I had to like hunker down and run two businesses and you know you're working, you know, 60, 80 hours a week, you know but that's what I'm willing to sign up for. I mean that's why I started early in life. It was just kind of like ready for this journey to come to an end and you know I had another company that I wanted to focus on. So just kind of all those factors coming together and yeah it kind of creates like unique situation.
The Buyers Who Made the Move: What They Bought, How They Did It, and What Happened Next
