Non-Negotiables Of An Exit with Melissa Kwan

The Exit - Presented By Flippa

Technology

5.0 • 420 Ratings

🗓️ 27 May 2021

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we’re talking to Melissa Kwan, co-founder and CEO of eWebinar, a company that takes any video and turns it into an interactive, automated webinar. Having always been in sales, Melissa found herself working in real estate right out of university. Ten years ago she found herself starting her first real estate tech company. Four years later she was starting her second real estate tech company. Listen in as she talks about a successful exit and all that led up to it. One of those companies was Spaceio, a real estate open-house application. Rather than signing in at an open house with paper and pen, it’s done on an iPad. They then feed all data back to the company and automate all the follow-ups for the agent. As they weren’t venture backed, their main KPI for success was revenue. While they had some private investors, Melissa says it was always a race to break even. A main misconception with venture capital is its a choice to have it. Melissa says they simply couldn’t raise the capital, so she used revenue from a previous company and took out a loan. Melissa says, looking back, she’s glad they didn’t get the venture capital, or they wouldn’t have been able to sell for what they did. They’d always been a small company, with six people at their peak, but got over one hundred enterprise customers before they sold. -- The Exit - Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Transcript

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0:00.0	Hello and welcome to the exit presented by Flippa, I'm your co-host Steve McGarry here
0:16.0	and this is a 30 minute podcast featuring amazing entrepreneurs who have been there and they have
0:20.4	done it. The exit talks to incredible operators who have bought and sold businesses of all
0:25.2	different types. You'll learn how they did it, why they did it, get exposure to the world
0:29.3	of exits, a world occupied by a small few but accessible to many. And on this episode, I sit
0:35.3	down with Melissa Kwan. She is currently the co-founder and CEO of the webinar, but she exited her
0:41.5	previous business spaceio a few years ago and she digs deep into the details on how the acquisition
0:49.2	happened. We talked about everything from being organized to how she stayed organized through
0:55.5	the acquisition and it was a laser speed acquisition in two and a half months. The acquisition was
1:01.4	completed and it was a really great conversation. So definitely stick around to the end for all
1:06.6	of Melissa's great knowledge. So without further ado, let's dive right into the interview here
1:11.2	on the exit with Melissa Kwan. All right guys, I am here with Melissa Kwan, the co-founder and CEO
1:18.6	of the webinar. How are you doing, Melissa? I'm good, thanks so much for having me. Yeah, I'm excited
1:24.2	to get into your story. In terms of your background, we like to start there. What's your background
1:31.1	and what led you to eventually exit your company? Yeah, so background has always been in sales.
1:40.9	So right out of university, I worked for real estate company and was also an agent selling real estate.
1:47.9	So it was on the real estate business side for three years. And then after that, I went to work
1:53.8	for SAP, but also in sales and business development. And then about 10 years ago, I started my first
2:00.5	company in real estate tech. About six years ago, I started my second company, Spacio, also in real
2:07.5	estate tech. And that was the one that was acquired. And then moving forward after that company was
2:14.8	acquired, I started Ewevenar, but my role in my company has always been sales and business
2:24.7	development. So the company that you started that you really kind of grew from the ground up,
	...

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