Exciting news: Journey+ has officially been acquired 🎉
1/ Here's the crazy story of how we built, scaled, and sold a company to private equity (in 3 months):👇
This guy is building an empire of bootstrapped SaaS companies.
In 2024, he scaled his 24 companies to 10M+ users.
He's using the same method to grow all his softwares.
Meet the guy who is outcompeting VC-backed companies:
I’m thrilled to announce that my web3 company Agora Labs has been acquired by
@TalentProtocol
(A $50 Million Dollar company) 🎉
But how did we get here? And where am I going next?
(A Thread by a 20 y/o) 🧵 ⬇️
Insanely hyped to finally share the news that my startup Agora Labs has been acquired by
@TalentProtocol
🎉
Here's the long nights of building and to joining an incredible web3 company✨
1/
We have exciting news! 🎉
We've just acquired Agora Labs, a social token and NFT infrastructure platform for creators to build and scale their communities 🎊
Here's why and what does it mean for our community 👇 🧵
Only build products to solve problems.
From search data alone, there was strong search indicators of of the problem we were solving:
(side note: I'm building a tool to figure out pain killer ideas -- DM to get access)
Humble personal update: 🎉
I'm dropping out a school...
(for at least one week)
Excited to announce I've accepted my offer to join ZFellows as part of their Crypto Cohort as I scale
@0xAgora
w/ my co-founders. 🧩
Let's do this !
cc:
@dropout_dao
,
@cory
,
@zackabaker
Found the next big arbitrage.
Completely overlooked space:
- zero competitors
- unlimited distribution
- mass market
Will be heads down building.
Excited to release this new product.
I think it will outdo anything I've ever built.
I'm hosting a dinner w/
@thematt_ross
next week in Toronto ✨
8 different people, & 5 topics of discussion
Here are the list of topics:
◆ Longevity
◆ Virtual Reality
◆ Creator Economy
◆ Artificial Intelligence
◆ Holding Companies
Reply if interested!
Two years ago I didn't know how to code.
Today, I've built software used by hundreds of thousands of users
Here's what no one tells you about becoming technical: 🧵
I sold my first company at 19.
After that I was kinda lost.
All my friends were raising millions of dollars for their startups.
Yet I somehow stumbled into the world of venture studios & holding companies.
Journey+ was our first portfolio company
We sold it 3 months later to…
I'm hosting a dinner every Friday for the next 5 weeks in Toronto ✨
8 different people per dinner & one main topic of discussion.
Here are the list of topics for the next 5 weeks:
◆ Web3
◆ AI/ML
◆ Creator Economy
◆ Venture Capital
◆ Healthcare
Reply if interested!
my web3 year in review
💫 started my journey through
@desoprotocol
🚀 raised capital for
@BitPerks
👨🏻💻 worked on creator growth features for
@Meta
🖼 bought my 1st NFT(s) -
@adidasoriginals
(1 of 30K)
📚 building the first-ever tokenized book w/
@erickoester
cont... 🧵
I ran all of the Sora prompts through Pika Labs
The result?
Sora won by a long shot.
Here are some side-by-side vids:
Video
#1
Prompt: A movie trailer featuring the adventures of the 30 year old space man wearing a red wool knitted motorcycle helmet, blue sky, salt desert,…
I'm obsessed with building a software empire.
We've raised $0 and have been profitable from day 1.
Today we are at six-figures and growing quickly.
Here's how I'm playing asymmetric bets so I don't lose:
This might be the most important post I've written in a while...
1/…
I'm obsessed with building an empire of internet companies with my co-founder
@theRyanKaufman
12 companies in 12 months.
To hear about the next company:
- Drop your email:
- Follow this twitter account + turn on notifications -
@MattEspoz
In 2 years, Marc Lou (
@marc_louvion
) built a $1.2m ARR portfolio of businesses.
He built it all himself, zero capital raised.
Here are his unusual operating principles... 👇
i'm putting a small team together to build my next venture in my holdCo (
@halationco
)
✦ double digit revenue share
✦ get to work w/ exited operators
✦ ideal experience in growth & sales
either we get acquired in 7 months, or it becomes a high cashflow company
who's down?
I'm hosting a dinner every Friday for the next 5 weeks in Toronto ✨
8 different people per dinner & one main topic of discussion.
Here are the list of topics for the next 5 weeks:
◆ Web3
◆ AI/ML
◆ Creator Economy
◆ Venture Capital
◆ Healthcare
Reply if interested!
4/ The same playbook is used to grow the companies
1. Idea (pain, trends, needs)
2. Validation (launch waitlist, if >100 signs up then cont.)
3. Build (avoid coding, use templates for MVP)
4. Grow (SEO, affiliates, user-led, content marketing)
5. Monetize (LTD, freemium, ads)
I sold my first software company when I was 19.
I was still just a student.
Since then, I've advised a couple startups to million-dollar exits
Here's what I've learned about selling tech companies: 👇
We built Journey+ (
@journeyplusai
) as a way to use Midjourney without Discord.
It was the first portfolio company in
@HalationCo
(holding company).
Now we are launching ONE new company a month, but Journey+ was the one that started it all.
Got the A-team together.
Brought on the best designer I know (
@_hannahahn
) to create the product mockup. And my close friend (
@MiguelSarenas
) to develop the software alongside me.
Little did I know what would happen next..
These next 30 days are going to be insane.
- Bringing on 2 new full-timers (growth & dev) to
@halationco
- Headed to SF as part of a
@neo
scholars trip
- Announcing the future of
@journeyplusai
- Scaling operations at
@DesignFlairCo
- Publicly launching 🤫
We're truly just…
I'm hosting a dinner every Friday for the next 5 weeks in Toronto ✨
8 different people per dinner & one main topic of discussion.
Here are the list of topics for the next 5 weeks:
◆ Web3
◆ AI/ML
◆ Creator Economy
◆ Venture Capital
◆ Healthcare
Reply if interested!
Not only was it the first major win from the holding company, it was proof that the venture studio model works.
Now it's time to take the liquidity and take on bigger bets.
We aggressively grew over the next 3 months.
At our peak we were getting 5 new users every 3 seconds.
And customers absolutely LOVED us.
Churn rate was nearly non-existant.
We experimented ALOT with different growth channels.
But we finally found it: influencers & directories
From there, we doubled our revenue every month after.
Our launch went VIRAL!
Hundreds of comments in a couple hours.
And even hundreds more through direct messages.
We easily got our first batch of paying customers.
Things that never fail to improve my mood:
- Solving a technical problem
- Hitting the gym in the morning
- Calling my mom to check up on her
- Helping friends figure out a decision
Doing things bigger than yourself are all catalysts for happiness.
Andrew Wilkinson [
@awilkinson
] just announced that he is starting a newsletter.
He's already built a $500m empire while in Canada.
I think this is a strategic step to be the next Hormozi.
Here are my predictions on how things will play out:
1/ A newsletter is just the start…
I'm hosting a dinner w/
@thematt_ross
next week in Toronto ✨
8 different people, & 5 topics of discussion
Here are the list of topics:
◆ Longevity
◆ Virtual Reality
◆ Creator Economy
◆ Artificial Intelligence
◆ Holding Companies
Reply if interested!
Humble personal update: 🎉
I'm dropping out a school...
(for at least one week)
Excited to announce I've accepted my offer to join ZFellows as part of their Crypto Cohort as I scale
@0xAgora
w/ my co-founders. 🧩
Let's do this !
cc:
@dropout_dao
,
@cory
,
@zackabaker
Quick Life Hack:
I have a shared Apple note with my closest friends
Allows us to keep track of the main topics we want to chat about next time we call:
Yet, at the peak of our growth... we got a message.
It was from a growth equity partner.
They saw the potential to scale it even further.
Through a couple discussions, it was clear it was the right fit.
I've started to notice an interesting pattern with my most successful friends.
The time it takes for them to make a decision is short.
But once they know what to do, they go all in unless proven otherwise.
Then they repeat the cycle
🎨
@MattEspoz
is building Agora Labs, a web 3 patreon-like platform that allows creators to make consistent income, and while providing rewards/perks to their top supporters in web 3.
Smaller scrapper teams, with less extensive funding is becoming the new norm
@anuatluru
has mentioned the term of “one round wonders” which perfectly sums up this trend
The next stage of startups will not be like the last
Seed-strapping will become the big trend of our post-ZIRP era.
Exceptional founders will raise a few million (at most) and then scale their companies to billion dollar valuations.
Don’t believe me?
Midjourney has gotten to $200M in revenue without raising a single cent.
When I got into tech, I made two bold bets:
1) I'd be able to build, scale, and sell my first startup
=> sold Agora to Talent Protocol
2) Building a group w/ my overpowered tech friends would lead to exponential learnings & bonding
=> scaled
@InnerCircle_HQ
to 450+ members
hiring is hard AF.
I want people that are mercenaries.
spent all of March going through interviews.
less than 72 hours ago I brought on 2 full-timers to Halation.
now we scale.
90% of building companies is really just:
- Working with A-players
- Solving a major pain point
- High feedback loops
It's little stuff that makes all the difference.
I have an even bigger announcement coming out in the next 14 days..
1. Follow me
@MattEspoz
to hear about it
2. Like/Retweet the tweet below if you think others can benefit from learning about this:
Exciting news: Journey+ has officially been acquired 🎉
1/ Here's the crazy story of how we built, scaled, and sold a company to private equity (in 3 months):👇
Almost exactly a year ago I did the
@ripplexfellow
program where I first introduced to the world of startups!
Today we are coming full circle as I'm now doing a fireside chat to students of the latest cohort 🏕
We're excited to be bringing back fireside chats!
Our next one will be on Friday, November 11 at 7 PM ET with
@MattEspoz
, Co-Founder & CEO of
@0xAgora
(acquired by
@TalentProtocol
). In this chat, we’ll cover the startup acquisition process.
Sign up here:
Life after exit isn't talked about enough.
All my friends who have sold their businesses felt 'lost' for a year.
For me, it took me a 14 months to figure out the next highest leverage thing to work on.
Since then I haven't looked back
3/ All the companies he owns creates a shared ecosystem.
This allows John to build companies FAST:
→ website builder.
→ SEO on 100% autopilot.
→ lists a tool on up to 1000 directories
Sora from openai was the final piece needed to build a full production machine:
- eleven labs for voice
- gpt for content ideas
- dalle for images
- sora for video
Someone needs to build a mechanism to seamless connect them all together
My playbook for finding your own path:
1) View life in decades instead of individual years
2) Take what you admire about others and understand why you admire that aspect of them.
3) Reverse engineer where you wanna go by comparing someone’s stage one, not their stage ten.
5/ With world-class advisors on our side, we started scaling at a whole other level.
In a matter of 5 weeks we got funded for over $100K+ in blockchain grants from
@desoprotocol
and
@harmonyprotocol
, amongst others.
2/ In 2021, I was first introduced to the potential of Social Tokens and built my first token on
@desoprotocol
I quickly became OBSESSED with solving problems in this new web3 economy.
💌 reached 1.2K in my crypto newsletter
🇨🇦 finalist for Next 36, Voila, and Human Capital
🎉 built a community of 200+ web3 enthusiasts
💎 setup launch for $MATT token on
@BlockPerksNFT
We’re starting to take things to another level
Incubate companies based off data and proof points
Not by intuition.
At Halation we are building an internal tool to determine the next companies we build
1/ John (
@johnrushx
) is the Founder of MarsX, an operating system for software development.
It breaks every startup advice you've heard
- Each company run by 2 people
- Zero capital raised
- Apps built using 'templates'
- Public about growth & revenue
3/ In January, we built and shipped our token rewards platform to our waitlist of THOUSANDS + finalized our founding team [
@freemanxjiang
,
@0xCharles1
,
@JerryDizs
]
✨ Think Patreon, but supercharged by web3.
🥇 We built the infrastructure for tokenized creators.
10/ As part of the acquisition, I will be joining Talent Protocol in October 💫
In the meantime, check out $MATT token for more updates on my career path ✨
2/ Projects > Courses
There's tons of courses & programs about: 'How to Code.'
As soon as you got the basics, I would then start building projects.
Find tutorials on how to build projects, not on how to code. Work backwards from your end goal.
11/ Huge thank you to EVERYONE that's supported me through this insane past year
I'm unbelievably grateful for where I am today ❤️
From what started as a little side project has slowly reeled me into this wack world of tech, and I wouldn’t have changed it for anything.
I just put the final touches on latest newsletter:
> how I went from non-technical to building products used by hundreds of thousands
link in the next message:🫡
8/ At the end of the sprint, we had 4 offers from companies who wanted to acquire us - a mix of stealth startups and multi-million dollar companies.
From DAY ONE,
@TalentProtocol
was the ideal company; I truly resonated with their mission and culture. 💫
1/
We have exciting news! 🎉
We've just acquired Agora Labs, a social token and NFT infrastructure platform for creators to build and scale their communities 🎊
Here's why and what does it mean for our community 👇 🧵
6/ In March,
@filmacedo
invited to me join a Twitter space to talk about my journey in building
@0xAgora
⚡️
It became clear that the day to join efforts would eventually come 💼 (
@pcbo
,
@Francisco__Leal
💪)
Talent Protocol
#TwitterSpaces
has approached its 10th Episode: Creator Economy in Web3 with
@MattEspoz
Let’s start getting to know Matthew a bit better (until you hear everything about him tomorrow 😉)
1/ The Rule of Two
I've never had fun building solo projects—it get boring very quickly.
All my most impactful projects I did with at least one other person.
Find someone that is 10% better than you then start BUILDING.
5/ Get Paid to Learn
Cold email early stage startups.
Go to VC Firms & Startup Accelerators then search by recently companies they have invested in.
Email all the startups that are interesting to you.
You just need one to take a chance on you.
Prove your worth.
7/ Over the next 3 weeks, I learned as much as I could about doing an acquisition process: from valuing your startup to negotiating offers.
I was soaking up all the information I found on
@MicroAcquire
through their videos and blogs. 🍿
Is anyone in my network a talented brand/web or product designer network who would be interested in working on a retainer? 👀
Will guarantee consistent work, design reviews to help you level up, and fair remuneration ❣️
3/ Stick with a Single Tech Stack
Instead of mastering a language, focus on mastering a stack.
I recommend looking into the MERN stack if you want to build web apps.
From there you can branch out to other stacks.
In the next 12 months I'll be launching 12 companies.
60% of them will have full-time operators running them.
40% of them will be short-term cashflow plays.
And at least one of them we will raise external capital for.