We did it!
Yesterday, CastleWave was formally sold to Imergent. CastleWave will be used as a key infrastructure component in Crexendo which is IMergent’s venture into creating a nationally dominant SEO Marketing Agency.
This was a cradle to grave (hopefully not grave) exit in 2 years 3 months and 10 days. CastleWave was formed on November 1st, 2007.
As all of you know, this business was created with $5,000 to prove the principles in the book. CastleWave indeed was profitable from day one, generated over $1MM the first year at 50% margin and this past year did apx $1.4 MM. We have offices in both NYC and Utah and presently have 23 employees and apx 30 active clients ranging from smaller companies like Bank On Youself to large customers such as OpenTable and IMax.
What an amazing ride the past several years have been. We have built an amazing little team which was initially based on 4 teenagers that we affectionately refer to as our linker boys. The team now has 5 amazing account managers, several project managers, and a whole slug of off the chart smart linker boys.
The main thing I will miss will be the association with this high energy can do little team. I personally thank this rag tag team for their efforts and want to let them know of my confidence and belief in them in their future careers. I expect great things from you guys.
I am thrilled that we were not only able to talk about the principles in BootStrap Business, but prove it. Indeed, we ate our own cooking and went through the entire process from chapter 1 to now chapter 19 the exit.
It is really a satisfying feeling to be able to write this post closing both chapter 19 in the book and in the business.
With this exit, I will now be freed up to be much more active in dialog, discussion, and yes posting to the blog. It is perfect timing with the blogs on the book now coming to the end of the book. If you have any specific blog topics or discussion items you want me to cover, please email me and I would be happy to hit them. rich at bootstrapbusiness dot com.