Most people think business deals happen in boardrooms.
But that's not always the case. Sometimes you do the deal wherever you are. Because at the end of the day, it's not where you do the deal that matters.
It's who you do the deal with.
Crowd Favorite Announcement
Today, the CEO of the VeloMedia Group and Crowd Favorite, Karim Marucchi, is announcing that he's entering an agreement to purchase Forty.co – a design, brand, and UI/UX company based in Arizona.
You can read more details here: http://www.poststat.us/crowd-favorite-forty
The letter of intent (LOI) was signed in the laundry room of the University Center in Chicago, while we were all here at WordCamp Chicago.
Doing Business Deals
The space of mergers and acquisitions isn't new to Karim, with twenty years of experience working with internet and professional service companies. It's also not new to the WordPress space.
Many companies have started looking at acquisitions in the space – because WordPress has gotten grown enough to start seeing consolidations.
But what's interesting about the way Karim does his work, is that these aren't just roll-ups or tuck-ins. Instead, he's focusing on building a set of brands that deliver specific value for Fortune 500 companies.
In the end, the lesson to take away from this is that finding partners that server your customer is the best way to grow – and that when you find them and find the right kind of alignment, you do the deal wherever you need to – even if it's in a laundry room.