In this episode of the Tech M&A podcast, Poya Farighi shares his journey of building and exiting his cloud-based HR reference checking platform, Vitay. He discusses the challenges faced during the sale process, the importance of maintaining business operations, and the emotional transition after the exit. Poya emphasizes the need for preparation, the value of keeping an open mind for future opportunities, and the significance of celebrating milestones in the entrepreneurial journey.

 

takeaways

• Vitay is an automated reference checking platform that simplifies candidate screening.
• The sale process can be stressful, especially nearing the end.
• Maintaining day-to-day business operations is crucial during the sale process.
• Having a supportive team and advisors can ease the burden of selling a company.
• Be prepared for the emotional ups and downs of the exit process.
• It's important to keep an open mind about potential acquirers.
• Celebrating milestones, like an exit, is important for entrepreneurs.
• The journey of building a new venture begins after an exit.
• Expect the best but prepare for the worst during negotiations.
• Continuing to grow the company is essential, regardless of the sale outcome.

 

00:00 The Birth of Vitay: Solving HR Challenges 01:55 Navigating the Sale Process: Challenges and Strategies 05:09 Life After the Exit: Reflections and New Beginnings 07:59 Final Thoughts: Keeping an Open Mind for Future Opportunities