The Art of The Deal with Joseph Fung, the founder and CEO of Uvaro

The Exit - Presented By Flippa

Technology

5.0 • 420 Ratings

🗓️ 9 August 2021

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Joseph Fung is the CEO of Uvaro, a company that offers training to help people change careers and dive into the tech industry. From a young age, he watched his parents run their own business and knew he wanted to help others do the same. With extensive experience and knowledge with starting, scaling, and selling a business, Joseph has invaluable insight to share. -- 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 Philip. This is a 30 minute podcast featuring
0:14.9	amazing entrepreneurs who have been there and they have done it. The exit talks to operators
0:18.7	who have bought and sold businesses of all different sizes. You'll learn how they did
0:22.5	it, why they did it, and get exposure to the world of exits. It's a world occupied by
0:26.6	a small few, but accessible to many. And on this episode, I sit down with Joseph Fung. He's a
0:32.9	fantastic entrepreneur who started a business called Tribe HR. And it was acquired by NetSuite for
0:38.6	$32 million. He talks about hiring a team going from seven people up to 25 people and going through
0:46.0	this acquisition with NetSuite with a lot of really interesting knowledge nuggets that he drops on us.
0:51.2	He talks about how a person on his board had a personal relationship with the CFO at NetSuite.
0:57.2	They had a back channel conversation coming, and they did a great job, or Joseph does a great
1:02.1	job of walking through the timeline of how things happened. I was really impressed at how detailed
1:08.7	he gets. Overall, it was basically within a year this acquisition took place. And Tribe was a
1:15.8	social human resources software. So it was very, very innovative in terms of allowing people to
1:24.0	feel like it was almost like a social networking software piece. And he does a good job of breaking it
1:29.8	down. So without further ado, let's jump right into my interview here with Joseph Fung, the CEO of
1:37.1	his new project, Yvaro. All right, guys, today I am joined by Joseph Fung, the founder and CEO
1:46.0	of Yvaro. How's it going, Joseph? Really good, Steve. Thanks for having me here. This is going to
1:50.3	be fun, Chad. Yeah, I'm excited. So before we get into the exit that you went through, let's
1:57.1	take a little bit into your background and what led you to starting businesses.
2:01.3	Oh, for sure. So computer engineering by training got deep into software really quickly, ran a
2:07.4	couple of startups. I think what got me into it was seeing what my parents are doing running
2:12.0	their own companies. What got me into the specific companies was a desire to build better companies.
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