Growing 200% and serving over 9 million members is a special achievement for any startup, but what makes BlaBlaCar’s growth strategy so special is co-founder and CTO Nicolas Brusson’s philosophy that the best plan for international expansion is to acquire small and dedicated companies pursuing BlaBlaCar’s same mission.
Similar to BlaBlaCar, in only five years Livefyre’s grown to serve 50% of the world’s largest companies at a 99% retention rate that founder and CEO Jordan Krechtmer attributes to their incredible team.
Recognized as the top place to work in the Bay, Krechtmer’s constantly targeting team members who bring new perspectives to Livefyre, and one of the most successful ways he’s achieved that is through the acquisition of successful startups.
Livefyre’s acquired Storify and Realtidbits based on three value points his team prioritizes when targeting companies to acquire. Whether you find all three or only one, here’s how to keep product, market and culture in mind when expanding your team.
- Understand the product and the technology operating it. Whether it’s specific features or the entire platform, ask yourself how your organization will derive significant value from it.
- Determine the product’s market and answer these three questions: Who are the customers? How do they use the product? And, is it enhancing their lives?
- Cultural fit. Just like Jordan emphasizes for exceptional company culture, it’s all about what each member can uniquely contribute. Uncover the ways their team will make your company a better place to work and discern if their values will match your mission.