In Episode #184, Nathan continues to tell-all about the selling of Heyo. In this part, he focuses on ‘due diligence’ and the business post-acquisition.
Part 3: Signing On The Dotted Line, “The Big Bank Wire”, Whats Next? (listen/read below)
3 Key Points:
- While waiting on due diligence, Nathan kept leverage and created a safety net by keeping Letters of Intent from other companies in case the signed deal with Votigo fell through.
- Entrepreneurs often have strong intuition or ‘gut feeling.’ Sometimes it’s wise to trust your instincts or to find out why you’re feeling a certain way.
- Nathan’s signed the deal to sell Heyo! What’s next for him? Find out on his webinar launching on Feb. 4th.
Time Stamped Show Notes:
- 00:00 – Nathan’s talks with Jim Risner, a co-CEO of Votigo.
- 01:30 – Nathan signed the LOI offered by Votigo.
- 01:53 – Jim talks about Votigo, a social marketing promotions platform.
- 03:22 – Nathan kept leverage and created a safety net by keeping Letters of Intent from other companies in case the signed deal with Votigo fell through during ‘due diligence.’
- 04:37 – Sue Zimmerman joins the show, one of Nathan’s first customers at Heyo.
- 06:41 – Nathan does The Top Podcast because he loves being out in front of people, not for the money.
- 07:38 – Joe Snider weighs in on what he thinks Nathan should do with his podcast now that Heyo is being sold.
- 08:56 – Autumn Beam of the Write Your Own Story podcast calls in.
- 10:05 – Nathan talks to Jim Risner about Heyo’s future post-acquisition – there are none to few changes planned.
- 11:09 – Nathan and Jim discuss red flags when it comes to business acquisition and due diligence.
- 12:40 – DJ Stephan, a highly accomplished entrepreneur and podcast listener calls in to advise Nathan.
- 15:03 – Nathan docu-signs the acquisition deal and sells Heyo.
- 18:29 – Get your mind in something, build it, hustle hard, ignore haters, and ride momentum to winning.
- 19:07 – What’s next for Nathan? Find out live on February 4th in his webinar.
- Host Gator – The site Nathan used to buy heyo.com and get hosting at an affordable rate.
- Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
- Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books
- Heyo – Contests, sweepstakes, and campaign landing pages.
- Votigo – Social Marketing platform that acquired Heyo.
- Write Your Own Story – Podcast by caller Autumn Beam
- SkySlope – Caller D.J. Stephan’s business
If you like the real stories of founders who sold their companies, you’ll like these episodes:
FEATURED: 73 Jim Fowler Salesforce bought his company for $175m in 2010, What’s he doing now?
184 Nathan Latka Sold Heyo, Here’s What’s Next
177 Nathan Latka My decision. Should I sell Heyo or not.
171 Nathan Latka We got an offer to sell Heyo
167 Eran Eyal How do You Sell for $90m with NO REVENUE?!
166 Frank Meehan Were you ever surprised at a Spotify Board Meeting?
148 Jay Bean From $250k+ Salary, to 4 years making nothing, to $30m+ Payday in SMB World with Jay Bean
135 Hampus Jackobsson I sold my company for $150m to Blackberry then got out!
121 Chad Wittman 26 Year Old Sells EdgeRank Checker for $3m with Chad Wittman
112 Ethan Anderson He Built Google Video, Then Youtube Happened, Sold for $70m with Ethan Anderson
103 Dean Levitt How MadMimi Does $500k/mo in Revenue and Sold to GoDaddy with Dean Levitt
73 Jim Fowler Salesforce bought his company for $175m in 2010, What’s he doing now?
41 Tim Fargo He went from bankrupt in 1991 to $XX Million dollar sale in 2003 in THIS industry?