Blog – November 2019
Selling Start Ups
Just how quickly can you sell a start up? Within a couple of years if you take the example of Freeup’s recent acquisition by Greensill, a subsidiary of Softbank.
Established in 2018 to provide an ethical alternative to pay day loans, the business has yet to launch its service. Although there was no published deal value, according to the The Times, the founders are expected to make millions.
What allows a company to exit so early? Well a look at the founders is of help. It was established by Reuben Saxon, ex Accenture, David Townsend ex VP of Engineering at Funding Circle, and Marta Krupinska, head of Google for Startups UK. A better connected trio I suspect would be difficult to find. This is also an area with anticipated explosive growth – so why wait when the financial muscle of Softbank can be put to use. Why indeed!