Hello VCs, PE firms and other investors!
If you've made it to this page, you're likely looking for an acquisition or an investment. We're flattered that you see potential in BuildingLink. But as we will explain below, there is not likely to be an opportunity. Unless you are pursuing a joint venture, as described in the last paragraphs. Otherwise, it's better we each do our own separate things.
Here's why:
There is a lot of capital looking for tech investments right now, and especially real estate tech. It is correctly perceived as a stable industry that can produce predictable returns, and it is why we have invested 17 years building our company! If you are a private equity or venture capital firm, you have a good idea how one can leverage the combination of our company and your resources. Or you may have a good plan how to buy some or all of our company for X and sell it 5-10 years later for Y, possibly as part of something you will have assembled from a collection of acquisitions.
Your strategy is sound, the sector is good, and BuildingLink is a solid foundation on which to build.
BUT, here's the thing: We have no practical use for the funds or for the leverage, because we are satisfied with our company's progress! BuildingLink was born out of a genuine love of creating and bringing great technology solutions to users, not first and foremost a love of accumulating wealth. We are patient! Another 5 or 10 years at our current growth trajectory looks fine. We've already invested 17 years in its mission and have the next generation of leadership in place. Our philosophy is to methodically build on our position in the industry, leverage our accumulated technical prowess, and consistently come up with amazing products and improvements for our large segment of long term customers and employees.
In short, we have the financial resources to fully support whatever growth we want to undertake, without the need for external capital. Our multi-year strategy of careful, slow growth, of cultivating the right customers, and of creating a product with enduring value, has given us the luxury of not having to accept someone else’s rocket fuel and not having to run our company to meet someone else's investment return objectives.
As you can imagine, we have heard many times what you probably want to tell us: You might be the ideal investor for us, or that you like to "get to know" companies long before they have any need for capital, or that your investment would let us take some chips off the table, and still keep doing what we love best with even more resources than before, or that in your hands BuildingLink could be part of a tremendous combination with other holdings you have.
That's all very exciting for many companies, but not for us, because we don’t spend time thinking about our "exit" or "liquidity event". BuildingLink is about building and creating, not "exiting". Our liquidity comes from our customers and the value we provide them.
But there is still something we are open to: We are open to hearing about something that resonates with our "creating" DNA: joint ventures.
A joint venture in a new entity that combines some aspect of what BuildingLink brings to the table with another company or resource that you have available that will start off possibly having no revenue and no customers, is interesting! We have previously identified several different ventures that could be great places to start, that leverage BuildingLink as a base. You may have some in mind yourself, or have a portfolio company that would love to work with us, and we'd like to hear about it. But BuildingLink is not for sale, in whole or in part.
Sorry if, by this point, we've lost you. Most PE or VC firms won't even have read this far. Investing in a new business venture with no revenue and no customers is not what you do. You invest in a company for X, do cool stuff, create a good "future growth" story and then sell it for Y. If so, we understand, but that is not us. You'll succeed as investors and leverage-masters and rocket-fuel providers. And we'll succeed in methodically building things we are proud of, and in seeing them in use around us. And we'll both be happy.
Happy investing!