Have you ever thought about how a strategic acquirer might view your business? As the founder of your company, you probably have a specific vision of what your company does, who you sell to and the value you provide. That singular focus has certainly helped you be successful so far, but could it lead to a blind spot that might hinder an amazing acquisition opportunity?
Here's a great story about a company called Polar Rose.
It's founder Jan Erik Solem founded the company in 2004 & developed a new form of facial recognition software. He raised $6M in venture capital but despite having a unique technology, by 2009 the company had burned through all it's cash with no revenue in sight. They were literally months away from bankruptcy.
Then along came Carl Sibersky, a tech executive.
Carl envisioned a whole new application for the technology, one where you could use your phone to take a picture of your mates and it would recognise who was in the shot and tag them.
He knew that this was something that would provide a great competitive advantage to a mobile phone manufacturer.
9 months later, with Carl in charge as CEO, Polar Rose was sold to Apple for a reported $29M!
It's food for thought as to how a strategic acquirer may look at your business.
Sometimes a fresh set of eyes could help you position yourself as a prime acquisition target.