Creative Partners

Coconote hired Creative Partners to run its sale to Quizlet. Banker Chris Parker handled the early talks through closing with Quizlet, so the founders could stay on customers, building and marketing. Inbound strategic interest began when the app was a couple of months old, and Quizlet acquired it about 18 months after launch.

Advice drawn from this: on a lean team, an M&A process can pull focus from the business, so a banker is worth considering once you commit to selling. Most inbound M&A conversations are not a good use of time. Take the call only if you respect the company and are ready, and ask for a ballpark range early. Quote: "if you are a founder on a really lean team consider going through an investment bank".

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