Mark Janes co-founded ConnectedYard in 2015. The company developed pHin, a sensor that monitors the water chemistry of your pool or hot tub and sends notifications to your smartphone when your chemicals are out of whack. Coupled with a subscription model that sold pre-packaged pool chemicals and maintenance services, ConnectedYard started to disrupt the pool and hot tub services market. And that’s when Hayward Industries, one of the world’s largest suppliers of swimming pool gear, approached Janes about buying his company.
In this episode, you’ll learn about:
- The pros and cons of giving up equity through venture funding rounds
- How to build your pitch to funders to avoid ‘aging’ your deal
- Why venture funding can be a great way to find unexpected buyers
- The importance of ‘staring your acquirer in the eyes’
- Key tactics to protect yourself as you structure an earn out