They Got Acquired - A SaaS built on Slack

Oct. 11, 2022
​Read on web​

Many startups in the esteemed Y Combinator incubator program go on to raise millions of dollars in venture capital.

But this trio of co-founders who participated in the program for their human resources SaaS, Gather, chose to raise less than $1M in pre-seed funding from angel investors.

Funding was important, but so too was their ability to retain control over the destiny of their first business venture.

That decision ultimately turned into an exciting opportunity when Gather, a SaaS that was built on Slack to automate employee onboarding, fetched an acquisition offer from another HR platform, one that was VC-backed.

Here's how the Gather team built and sold their business three years after its founding. 👇

​Two HR platforms were founded the same year. 3 years later, one bought the other​

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Behind the business

Thanks to those of you who supported us as we launched our first paid report last week. We appreciate you!

Based on the interests of this community, we're thinking our next report will be on SaaS deals, likely those under $10 million.

If there's a niche within SaaS you'd like to see us focus on, press reply and let us know.

Want more in-the-weeds details on how the report launch went last week? I wrote a Twitter thread about it:

Alexis Grant @alexisgrant I've sold digital products under different brands for more than a decade, yet I still learn something every launch. Last week we pushed live our first paid report for @TheyGotAcquired. Here's how it went & what I found interesting👇 October 10th 2022 0 Retweets 0 Likes

See you next time,

Lexi Grant
Founder & CEO
​They Got Acquired​
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P.S. Following up on the conversation around content companies as strategic acquisition targets, here's a thoughtful post from a partner at a VC firm on what SaaS companies should consider if they want to buy a media business.

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Our mission is to redefine startup success by showcasing companies that sell for $100K-$50M. Learn more about us or follow us on Twitter.

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