Think about what company would best fit your needs at the time and in the future.
Although my startup was growing nicely, I realized that I wanted to expand the features for my online invoicing platform to include more payment functionality. Rather than spending considerable time building it, I decided to fast-track it by acquiring another startup that already had significant payment technology. The acquisition has provided numerous benefits.
Taking this approach means my existing customer base can enjoy that functionality, while new customers see a more comprehensive solution. It was my first time acquiring another company, and doing so as a startup presented some unique challenges. Here are some insights that you can use to achieve a successful acquisition strategy:
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