Cheryl Contee co-founded along with Rosalyn Lemieux. Together, the partners offered a Software as a Service (SaaS) app that helped non-for-profit organizations perform “social listening”. Their offering was used by organizations to identify and drive engagement among their influencers. The business was a success from the start, but thirsty for cash, so when social media companies started to tighten down their privacy settings, Contee and Lemieux decided it was probably best that find a new home inside a large organization. The partners ran a process to find a buyer and ultimately sold to Blackbaud, a NASDAQ traded software and services business specializing in the non-profit world. There’s lots to learn from Contee including how to:
  • Lower churn in your SaaS app.
  • Evaluate an M&A professional to sell your company.
  • Leverage the power of relationships to find an acquirer.
  • Get an acquirer to reveal their product roadmap.
  • Ensure an acquirer doesn’t decide to compete with you.
  • Think about the four types of financial outcomes from selling your business.
  • Avoid the biggest regret Contee has about her exit.
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