Earlier this year, Nick Haskins, founder of Aesop Interactive LLC, announced he was selling the company. Haskins was initially going to list the company on Flippa but after receiving advice from Syed Balkhi, used FE International to facilitate the sale. FE International is composed of website brokers that do the heavy lifting to help businesses find buyers.
An anonymous company based on the US East Coast without ties to the WordPress community is the new owner of Aesop Interactive LLC. Although terms of the deal are not public, Haskins confirms that he received close to his asking price of $100K.
When Haskins put the company up for sale, he specified two conditions the new owner must follow.
- Aesop Story Engine MUST absolutely be maintained and kept free.
- Editus must continue forward with development, in some way shape or form.
It’s unclear what the new owner’s plans are for Aesop Story Engine, Editus, and Story.AM.
Advice for Selling Your Company
The WordPress ecosystem is filled with thousands of companies from individuals to 50+ person agencies. Haskins offers the following advice for those thinking about selling their business, “Make sure that the books are buttoned up tight, because every check, every payment, every expense will be scrutinized and will ultimately determine what the appraisal price will be. Run a lean ship as the less overhead you have, the better.”
During the appraisal process, Haskins had to account for and explain every check number written during the last few months. Although it was a lot of work on his end, he highly recommends using FE International as they manage the negotiating, contract writing, and appraisal processes.
What’s Next for Haskins?
Haskins isn’t giving up WordPress development as he continues to work with the software on a daily basis managing CGCookie. When I asked what’s next in his WordPress journey, he replied, “Overall, there will be another project. It’s just that this chapter of the story is finished. I want to eventually write and publish an eBook on my experiences of starting, running, and selling a business.”
Who do you think the buyer is and what do you think will happen to Aesop Story Engine, Editus, and Story.AM?