It was announced in November that VeloMedia was going to acquire Crowd Favorite. The deal closed on Friday, and Crowd Favorite CEO (and now VeloMedia CTO) Alex King wrote about why and how he sold his agency — the oldest WordPress-specific agency I know of.
Having been established a couple of years ahead of most shops in the WordPress community, we were trailblazing on our own. When sharing stories with other shops in the WordPress community, the topics would frequently be things my team and I had already solved or moved past. As it turns out, this was extremely limiting.
Alex calls a trip to last year's OwnerCamp a “revelation” that gave him a number of takeaways, and came away “with some choices to make.”
When Karim and I started talking in earnest last fall it was quickly apparent that we were building towards the same goal, but from opposite and complimentary perspectives. We shared the same values and ideals of building something sustainable and focusing on employee and team health and success, and we were creating teams that championed our own strengths. Crowd Favorite was mature on the technical side, while VeloMedia could deliver to top tier clients on the business side. The opportunity to bring the teams together was easy and obvious.
This is a really great story, and it's awesome to see Alex's transparency in telling it from his perspective. I'm sure it will be extremely valuable to other business owners and entrepreneurs.