Conventional wisdom is that startups are bought, not sold. The logic follows that no matter how much an entrepreneur wants to sell a company, there needs to be an eager buyer and no amount of seller desire can manufacture one. Some people interpret this wisdom to mean that they should spend no time getting to know buyers and when a large company is ready to buy their startup, they’ll come knocking.
I understand this advice, but had very different experience selling Brontes Technologies, a company I co-founded with Micah Rosenbloom that brought mass-customization to the dental industry. The process started without a buyer and ended with five.
Strategic Fundraising Can Test the M&A Market
We were starting the process of raising our Series B financing with a beta product and no revenues. Micah and I believed that…
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