#107: Brothers Sold Their Bootstrapped Software Company for $40 Million – David and Chris Sinkinson

Practical Founders Podcast

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26d ago 1:09:20

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Brothers David and Chris Sinkinson attended Queen’s University in Ontario, Canada, when David learned of the problems maintaining the blue emergency phones on campus. He proposed a location-aware mobile safety app, so Chris built it himself, and it worked great.

AppArmor grew steadily to become the most popular university mobile safety platform in Canada and the US, and over 250 universities use it.

With no outside investors, they bootstrapped the company to $6 million ARR with serious profits before selling the company to Rave Mobile Security for $40 million. They stayed on for another year in transition before writing a book and running a podcast called Startup Different.

Quote from Dave Sinkinson, CEO and co-founder of AppArmor

”The biggest advice I give new founders is to ‘ignore that startup noise.’ Throughout our experience, we had lots of people who I loosely referred to as haters. People who said we’re "just a lifestyle business” or our idea is never going to work. One person literally told my cofounder brother Chris that we weren’t even a startup.

“Just ignore those people. Don’t pursue validation from your peers. Instead, pursue validation in the market. A couple of years into the business, that realization was a big change that helped me stay on track. So, my advice for SaaS founders is to ignore the haters and enjoy the journey.”

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#Tech #Entrepreneur #Business #Greg Head