Tuesday, June 26, 2012

What It Feels Like When Your Company Is Bought for $100M | Inc.com

What It Feels Like When Your Company Is Bought for $100M | Inc.com: "Entrepreneur Wiley Cerilli's company Single Platform was bought by Constant Contact for $100 million. Here's how he reacted."


A few weeks ago, 32-year-old entrepreneur Wiley Cerillisat down with his wife. He told her an email company, Constant Contact, wanted to acquire his two-year-old startup, Single Platform, for $100 million.
The couple came up with a list of things to buy and do if the deal went through:
Get a new washer and dryer. Mount the TV. Buy new socks.
"We couldn't think of anything else we really need," he said.
Last week, the $100 million acquisition was finalized -- $65 million in cash up front with the ability to earn up to $30 million more over the next two years.
As a sole founder who had only raised $4.5 million from outside investors, Cerilli suddenly became a very rich man.
We met up with Cerilli and Single Platform's executive team on Wednesday night, just after the money hit their bank accounts.
We asked, "How does it feel to be absolutely loaded?

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