Sold Heyo, Here’s What’s Next

The Top Podcast Nathan Latka Episode 184

 

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 1: A Competitor Emailed Me Asking To Buy Heyo, Are They Serious?

Part 2: The Big Decision, Should We Sell Or Not

Part 3: Signing On The Dotted Line, “The Big Bank Wire”, Whats Next? (listen/read below)

3 Key Points:

  1. 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.
  2. 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.
  3. 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.

Resources Mentioned:

  • 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?