什么是收购退出策略？

An Acquisition Exit Strategy refers to when a business owner decides to sell their company to another company. This method can potentially result in financial compensation for original owners, which may be influenced by the perceived value of their company..

This approach could enable the swift acquisition of liquidity and allow for a prompt departure to pursue other business opportunities..

其他退出方式包括首次公开募股（IPO）、将公司传给家人，或清算资产并关闭业务。

专业提示：如果您正在考虑成为收购的一部分，最好提前计划。整理好您的财务状况，确定潜在的收购方，并获得专家建议，以最大化您公司的价值。

示例：当Facebook收购Instagram时，这对Instagram的创始人来说是一种收购退出。

以下是收购过程的六个步骤： 

• 初步接触： Initiation can be either the acquirer or the target company, with the option of adding an investment banker to locate potential buyers.
• Non-Disclosure Agreement (NDA): To protect confidentiality, both parties agree to an NDA regarding sensitive information.
• 尽职调查： An investigation of company financials, technology, legal standing, team dynamics, and customer base is done by the acquirer, and it can take weeks to months.
• Letter of Intent (LOI): Once satisfied, the acquirer sends a document outlining the terms of the deal they are proposing.
• 谈判： Details such as payment structure, price, and employee contracts are negotiated from each side until an agreement is made.
• Closing: Ownership of the company is transferred after the final agreements are signed by both parties.

The different types of acquirers are:

• Strategic Acquirers: 通常，同一行业内的大型企业会寻求合并人才、技术和市场份额，并且还会考虑将产品整合到现有服务中以增强竞争力。 
• 财务收购方： 对财务投资回报率感兴趣的私募股权公司，其目标可能是未来出售以获取利润。
• 竞争对手： 当直接竞争对手决定通过合并产品线并消除行业中的其他竞争威胁来合作时。

收购方正在寻找以下关键财务指标：

• Annual Recurring Revenue (ARR): A key indicator of your company’s predictable revenue stream.
• Customer Acquisition Cost (CAC): The cost of acquiring new customers.
• Customer Churn Rate: The rate at which customers leave your business.
• Gross Margin: The portion of a company’s revenue left over after direct costs are subtracted.
• Growth Rate: Demonstrates the potential for future revenue and profitability.

In preparation for acquisition:

• organize financial records
• assemble a team
• 获取专业估值
• 展示并监控适当的 SaaS 指标
• 寻求律师和财务顾问的专业建议
• 确保 法律合规

这些步骤为公司进行尽职调查和谈判做好准备。 

SaaS收购中创始人面临的最常见限制之一是未能做好充分准备。

Not being able to pinpoint specific goals for the business acquisition, aspects like market business growth or technology, can ultimately lead to unexpected and potentially unsatisfying results.

Additionally, SaaS founders may have unrealistic valuations. While it may feel your life’s work is worth the price tag you gave it, it is important to evaluate it based on precise reasoning. Customer base, technology, 财务预测, and market trends are included in the list of aspects to consider.

Failing to comply with legal and compliance regulations can lead to different complications.

And let’s not forget about negotiations. Some founders might have complicated negotiation strategies that stall this SaaS exit strategy.