news.ycombinator.com• Oct 29, 2009• 1 min read
Ask HN: How to sell a startup?A friend of mine (not me, I swear) has a profitable company that does about 3 million a year in gross revenue. He’s at a point where the company is still growing and has a decision to face -- sell it or expand it in a way that moves him into a CEO position with a staff reporting to him. Right now he has a just 3 or so employees, all working from home. He doesn’t like the idea of setting up an office -- he really is a startup guy and wants to move on to another project. So now he’s thinking of selling, and knows little about how to approach that.So the main question is: How does one sell a startup?I know a thing or two now about approaching angels and VCs, but little about approaching buyers. Do VCs buy companies or know people who do? Does one just directly contact competitors like I’ve heard? Any tips on how to go about this are appreciated. The guy who founded this site bootstrapped it and has no "connections" to speak of. It’s a great feat and an inspiration to those going it alone.