Ep 392 Inside Fidelity's $80 Million Acquisition of SkySlope with Tyler Smith

<p class="MsoNormal"><span style= "font-size: 10.0pt; line-height: 107%; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; color: windowtext;"> In 2011, Tyler Smith,</span> <span style= "font-size: 10.0pt; line-height: 107%; color: windowtext;">one of the</span> <span style= "font-size: 10.0pt; line-height: 107%; color: windowtext;">top three</span> <span style= "font-size: 10.0pt; line-height: 107%; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; color: windowtext;"> real estate agents in California,</span> <span style= "font-size: 10.0pt; line-height: 107%; color: windowtext;">launched</span> <span style= "font-size: 10.0pt; line-height: 107%; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; color: windowtext;"> SkySlope</span><span style= "font-size: 10.0pt; line-height: 107%; color: windowtext;">,</span> <span style= "font-size: 10.0pt; line-height: 107%; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; color: windowtext;"> a software platform that enables real estate professionals to efficiently manage their transactions, documents, and communication in one centralized system.</span></p> <p><span style= "font-size: 10.0pt; line-height: 107%; font-family: 'Open Sans',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-CA; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"> Smith successfully bootstrapped the company to around $12 million in annual recurring revenue by 2016, attracting significant attention from potential acquirers. Among the interested parties, Fidelity National Financial emerged as the ideal fit, acquiring 67% of SkySlope in a deal valuing the company at over $80 million.</span></p>