The right buyer can pay you $1 billion for your business #buyabusiness #entrepreneurship #loom

Loom just got acquired for $974 million. So overall, Loom is a pretty basic screen recording software. Puts you in a bubble, it'll make you look cool. You can send these messages back and forth to your team. What's interesting is who acquired it. Atlassian. As a reminder who Atlassian is, they own Trello, they own Jira, a couple different productivity apps. The lesson of this for us when we think about selling a business is finding the correct strategic acquirer. Loom may have sold for way less money if they went just to a private equity firm and sold based on their cash flow. But they went to a strategic to buy them. People that use Jira and use Trello probably want to use Loom and vice versa. For something like Atlassian, that means there are a lot of cross-promotion opportunities and that Loom is worth more to them than it is to someone else. If you bought or built a business from scratch and you want to exit it, it's important to think about who the strategic acquirer for you can be. This can be the difference between you getting $1 million and $10 million from selling your business.