Startup Acquisition Stories with Ruslan Leteyski, Founder & CEO of Checkout X

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Ruslan Leteyski is the Founder and CEO of Checkout X, an alternative checkout solution for businesses on Shopify & WooCommerce. Prior to that Ruslan held senior UI/UX design roles across various startups in Bulgaria.

As part of a pivot experiment last year under Checkout X, Ruslan created a new product called Vanga AI, an automatic AI-driven upsell app on the Shopify platform. Although the app grew quickly, had good customers, and great margins, the revenue couldn’t outpace their burn from the team salaries.

After giving it over a year’s effort to grow the app, Ruslan and the team decided it was time to move on. Ruslan began researching different platforms that he could use to sell his Shopify App. He landed on as his first choice due to the great reputation and it turned out to be a good move. Ruslan was surprised by amount of quality buyer interest received on which ultimately landed him four offers with one becoming his eventual buyer.

Interestingly, Ruslan chose to go ‘quality over quantity’ when deciding on the right buyer. So rather than closing with the highest bidder with the best terms, he sold Vanga AI to a buyer who knew the space well, asked hard questions during diligence, and showed a level of seriousness/preparation that made Ruslan feel good about the app’s future post-acquisition.

Watch the full episode to hear Ruslan’s describe his acquisition experience in detail from start to finish. Also, catch his expert tips for others looking to follow in his footsteps building and selling Shopify apps.

Ruslan shares his expertise and opinions freely on social, give him a follow and catch his next entrepreneurial journey there:

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