.png)
Top M&A Entrepreneurs
Welcome to Top M&A Entrepreneurs – your go-to resource for inspiration, insight, and actionable advice on business buying. Each episode features engaging conversations with business buyers who share their “why” and industry service providers who break down the “how.” Learn from the pros and take your next step toward a successful acquisition with confidence.
Top M&A Entrepreneurs
How 2 Acquisitions Saved My Failing VC Funded Startup to SPAC IPO
🚀 Get My Free Book! 📖 How to Buy Your First Million Dollar Business
Summary
Running a startup during a global pandemic can feel like navigating through a storm. This is the story of Joe Davey, the entrepreneur behind the tech startup Banzai.
Starting with venture capital backing, Joe’s venture began to gain momentum, but the arrival of COVID-19 put everything at risk. Faced with the potential collapse of his company, Joe needed to make a critical decision quickly.
He proposed a strategic pivot to his investors: acquiring two companies that could provide the necessary stability and growth. This move not only saved Banzai but also set it on a new path forward. Following this, the company ventured into the public markets through a SPAC to support its expansion.
However, the challenges were far from over. Despite a promising start, the SPAC's value fell dramatically from $10 to just 30 cents a share. Despite these setbacks, Joe Davey's journey with Banzai is a lesson in persistence, adaptation, and the realities of navigating a startup through unpredictable times.
Watch the video to see how Joe's decisions shaped the future of Banzai and what it takes to keep a dream alive in the face of adversity
00:00 Introduction and Background
07:07 Adapting to the Impact of COVID-19
12:35 Acquisitions: High Attendance and Demio
26:01 Going Public and Seeking Acquisitions
35:19 Lessons Learned and the Importance of Resilience