Mergers and Acquisitions are typically done by larger, more established companies. But in recent years, growth-stage startups have flexed their muscles in executing small acquisitions, whether to drive TAM expansion, accelerate product roadmaps, or strategically enter a new market/geography. In this episode, Ophir Reshef, CFO of Yotpo, describes how and why the Centaur ran an M&A strategy from its early days, and the many factors that other startups should consider when pursuing a similar route. Disclaimer: this episode was recorded just before the fundraising ecosystem hit the brakes.