Selling Flow Pilots Dewi's Exit Strategy, Finding the Right Partner for Growth

08/15/24 • 48 min

We sit down with Dewi, the former CEO and co-founder of Flow Pilots, to discuss her remarkable entrepreneurial journey and the invaluable lessons she learned with her exit.

Dewi's story begins in 2011 when she and her then-husband established Flow Pilots, driven by a shared vision to revolutionize the user experience of computer programs. By focusing on mobile strategy, business applications, change management, and enterprise architecture, Flow Pilots differentiated itself in a competitive market.

Throughout the episode, Dewi candidly shares the challenges she faced as a founder, from navigating the complexities of running a business with her spouse to overcoming cash flow issues caused by delayed customer payments. She also discusses her transition to the CEO role in 2018 and the strategic decisions that followed.

One of the most significant moments in Dewi's journey was the decision to sell Flow Pilots in 2022. In this episode, she provides an honest account of the factors that led to this choice, the importance of finding the ideal customer profile, and the emotional and professional challenges that accompanied the transition period.

This episode offers a wealth of insights for entrepreneurs, including the art of negotiation, the value of transparent communication during mergers and acquisitions, and the importance of resilience in the face of adversity. Join us as we learn from Dewi's experiences and gain a deeper understanding of what it takes to build, grow, and eventually exit a successful company.

This is what we discuss:

00:00 Introduction to the Big Exit Show
00:33 Interview with Davy van de Vijver: The Beginning
06:09 Challenges of Running a Business with a Spouse
14:26 Navigating Financial Struggles and Growth
19:07 Transition to CEO and Company Evolution
20:43 Partnership with Sipal Schouwbroek
28:58 Strategizing the Future
29:27 Presenting to the Board
30:17 Engaging Potential Buyers
31:17 Team Involvement and Transition
36:58 Valuation and Exit Details
39:18 Post-Exit Reflections
42:29 New Beginnings
49:26 Final Thoughts and Advice
52:46 Closing Remarks

More about Dewi Van De Vyver:
I plead for ethics in tech, sustainable business and more diversity in tech. You can find me on the panel of the podcast Tech45, with the event The Ada Talks, in several boards of directors, and in the government’s advisory group for technology education. I am all in, for as long as it takes. Want to connect? You can do that through LinkedIn

The Big Exit Show is an initiative by Peak and NP-Hard. Want to know more about Peak and the ventures we back? Check out our website. Want to know more about NP-Hard? Have a look at our website.

Feedback for our podcast or want to be featured on our show? Please reach out at [email protected].

We sit down with Dewi, the former CEO and co-founder of Flow Pilots, to discuss her remarkable entrepreneurial journey and the invaluable lessons she learned with her exit.

This is what we discuss:

00:00 Introduction to the Big Exit Show
00:33 Interview with Davy van de Vijver: The Beginning
06:09 Challenges of Running a Business with a Spouse
14:26 Navigating Financial Struggles and Growth
19:07 Transition to CEO and Company Evolution
20:43 Partnership with Sipal Schouwbroek
28:58 Strategizing the Future
29:27 Presenting to the Board
30:17 Engaging Potential Buyers
31:17 Team Involvement and Transition
36:58 Valuation and Exit Details
39:18 Post-Exit Reflections
42:29 New Beginnings
49:26 Final Thoughts and Advice
52:46 Closing Remarks

The Big Exit Show is an initiative by Peak and NP-Hard. Want to know more about Peak and the ventures we back? Check out our website. Want to know more about NP-Hard? Have a look at our website.

Feedback for our podcast or want to be featured on our show? Please reach out at [email protected].

Previous Episode

Selling Usabilla navigating the Big Exit Marc van Agteren's Insights

In this episode of The Big Exit Show, Marc gives details about Usabilla's significant pivot in 2012, which involved shifting focus to enterprise clients, phasing out less profitable products, and instituting annual contracts. This strategic move led to exceptional revenue growth and helped the company achieve breakeven within nine months. The conversation sheds light on the intricate process of preparing for and executing an acquisition.

Marc also emphasizes the importance of aligning shareholder interests, exploring various exit strategies, and ultimately partnering with SurveyMonkey—a decision influenced by their people-focused approach and solid valuation.

And finally Marc discusses his post-acquisition experience, including the challenges of adjusting to a new corporate environment and the personal toll during the COVID era. He reflects on his tenure, shares his activities post-exit, and offers advice on the significance of calculated risks and the benefits of bootstrapping in the initial phases of a startup.

This episode provides valuable insights into the nuanced journey of managing a tech startup through transformational change and a successful acquisition.

This is what we will talk about this episode:

00:00 Learning from late founder about company management.
07:11 Determining founder type, admitting limitations, and startup challenges.
09:45 Podcast discussed Paul's companies, including Usabilla.
12:32 Creating technology for website screenshots, monetization struggles.
14:51 Transitioned from 11 to 2, did everything.
20:34 Early feedback led to successful product pivot.
23:44 Cap table, cash flow, invoicing, healthy organization.
27:29 Explored investment with advisors and experienced investors.
29:43 Selected boutique firm understood global market, sealed deal.
32:03 European company considers exit amid market uncertainty.
38:38 Running two businesses with a solid partner.
39:43 CFO managed finances, kept sale quiet. Cultural fit.
45:24 Celebrated with team, had dinner, partied.
47:58 Separation beneficial after company integration, typically within 2-3 years.
50:25 Yusabila's public acquisition for 80 million USD.
54:30 Business, family, running, and a new company.
56:13 Successful journey with ups and downs. Great outcome.

Get to know Marc van Agteren a little better:
Marc van Agteren, a former Ernst & Young employee with a deep passion for web development, is a co-founder and key figure at Usabilla. A long-time friend of Paul Veugen, the original founder of Usabilla and fellow member of their student rowing club, Marc was witness to the company's inception in 2008. Despite being entrenched in a secure role at Ernst & Young, Marc's interest in innovative tools and web development grew. By 2010, the same year his girlfriend, now wife, relocated from Estonia to the Netherlands, Marc made the pivotal decision to join Paul at Usabilla, embracing his entrepreneurial spirit and technical expertise.
Contact him on LinkedIn.

Want to listen to the episode from Paul: The Big Exit Show | Selling Usabilla and Human.co - Paul Veugen on his multiple startup exits (transistor.fm)

The Big Exit Show is an initiative by Peak and NP-Hard. Want to know more about Peak and the ventures we back? Check out our website. Want to know more about NP-Hard? Have a look at our website.

Feedback for our podcast or want to be featured on our show? Please reach out at [email protected].

Next Episode

Selling Eshgro: How Anton Loeffen Transformed Eshgro into a Cloud Industry Leader

Anton’s journey is remarkable; from writing his first software at age 14 and becoming a programming finalist at 17, to founding his first company at 21 and successfully selling it. This episode delves into his business development strategies, the significance of recurring revenue, and crucial financial metrics like EBITDA.

We will also explore Anton's personal development, his experience with venture capital and private equity, and the lessons learned from managing partnerships and preparing for an exit. Additionally, Anton shares insights on balancing professional and personal life and offers advice for aspiring entrepreneurs.

Tune in for a comprehensive look into Anton Loeffen’s entrepreneurial journey, filled with valuable insights and lessons. Don’t forget to subscribe and provide feedback.

We are discussing:

00:00 Founder shows dedication, passion, and deep involvement.
03:35 Interest in programming sparked by TV series.
06:38 Learning communication, marketing, sales; consulting banks successfully.
10:06 Split company; hired co-founder; later separated.
12:43 Learn from mistakes; trust and value your team.
15:55 Respected feedback prompted management improvement through learning.
19:27 Bootstrapped initially, funded by software earnings and consulting.
24:15 Angels were hands-off but sometimes frustratingly repetitive.
27:40 Exited investors, considered growth or personal exit strategy.
30:45 41 interested parties narrowed to 3 finalists, negotiated exit.
34:25 EBITDA is crucial for venture capital success.
37:59 McKinsey and Holland Capital managed preparation process.
40:47 Escrow valued at $330 million via SaaS multiple.
45:26 Hire top talent; ensure strong, buyable strategy.
47:29 Regretted work-life balance, improved, now more relaxed.
50:28 Subscribe, feedback welcomed, join next episode.

More about Anton Loeffen:
Anton Loeffen's interest in programming began during his school years, sparked by the TV series "Wizkids," which dealt with artificial intelligence. Intrigued by the idea of creating virtual reality friends, he asked his parents for a computer and began learning to code. This newfound passion allowed him to see the potential of software in creating something from nothing. Anton went on to develop software for various companies and even sold his first software to banks, marking the start of a successful tech career.
You can connect with him though LinkedIn

The Big Exit Show is an initiative by Peak and NP-Hard. Want to know more about Peak and the ventures we back? Check out our website. Want to know more about NP-Hard? Have a look at our website.

Feedback for our podcast or want to be featured on our show? Please reach out at [email protected].