Casetext

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Yesterday, Clippership announced the close of another venture investment.  The company is Casetext, founded by Jake Heller.   This investment is particularly close to my heart, as it is attempting to disrupt the legal technology market.  I’ve had the pleasure of working with attorney’s through my previous company Simplegrid, and one of the biggest pain points for these attorneys (especially the smaller law firms) was the exorbitant costs of legal research websites.  Pricing can range up to thousands of dollars per attorney per year.   This data often times became stale, and essentially led a law firm to pay for research that they may not even use in their cases.

Casetext aims to change this by providing case annotations for free to everyone, that will stay up to date and analysis to help one understand judicial opinions.   Think Wikipedia/Quora for legal research.  They are working While you will be take in L-arginine from certain of the foods that you deeprootsmag.org cialis canada eat on a day-to-day basis, often you won’t get concentrated adequate levels to see real benefits happening. Natural supplements for thyroid Here are some natural supplements that when incorporated in meals will help get rid of erectile dysfunction and generally keep your body healthy and fit, people pay a lot order viagra overnight of money. A gap of 24 hours is compulsory between 2 generic viagra generic doses and consumption of below that period can give an unhealthy reason of inviting health ill effects. Driver prescription order viagra without education classes also teach learners about traffic rules as per the requirements of their state. with top professors and law firms to annotate cases and otherwise showcase their work.   They are already seeing tremendous traction on their site and they only launched six weeks ago.      

Casetext is truly coming at the right time.  We’ve seen the success that Wikipedia and Quora have experienced, thus lending credence to the open source format of sharing knowledge.   We believe that as the knowledge economy grows, we’ll see more of these industry specific knowledge sharing sites grow.  I wouldn’t be surprised to see something similar to happen within health care that would make understanding diseases, prescription medication and their interactions much easier to understand than it is today.

It’ll be very exciting to see how Casetext matures; if early results are any indication, attorneys will be changing the way they perform and share legal research in the near future.

Simplegrid Technology, Inc.

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Today, I am excited to announce the sale of some of the assets of Simplegrid Technology, Inc.    Simplegrid started off as a dream for me; when I first started the company, I knew I was a good consultant, and I thought that is all it would take to run an IT consultancy.  Boy was I wrong!  It took a lot of hard work, perseverance and failures to help mold me into a business man that can actually build and sell a company.     It’s a bit bittersweet, as we are selling off a portion of something that we created from scratch, with our own blood, sweat and tears, but at the same time I am very proud of the efforts and accomplishments that my team and I have put together to get us to this day.

IT Firms in NYCYou may be asking what an asset sale is.   When I had first started contemplating the sale of Simplegrid, I just assumed that I would sell off the entire business – all of our client contracts, the Simplegrid brand, and our employees and management team would then work for the acquiring company.  As we were negotiating with potential suitors, I quickly realized that a complete company sale wasn’t in the best interests of myself our employees.   Instead, we chose to sell off some of our assets – in this scenario, our Managed Services division.  I’ll get into details about the valuation of the company and other factors to consider when selling a company in later blog posts, but in short, we found the highest value in selling off our Managed Services contracts, as both Simplegrid and our acquirer were able to quantifiably value the worth of those contracts. 

As for the future, I’m very excited.  In the short term, I will be a consultant for the new company as I assist them with the transition, and some of our team will be joining them as well.  In the long term, the sale of these assets will allow me to free up more time to work on Clippership International, LLC, our seed investment fund.  It will also allow me to dedicate more time to the non-profit organizations I work with.  Lastly, graduating from the Kellogg School of Management in May also makes a great transition point into new opportunities.  The future looks bright, and I am thankful for the opportunities in front of me.

Before signing off, I realize that there is no way I could’ve done this alone.   The sum is always greater than it’s individual parts, and that cannot be truer for the Simplegrid team.  I couldn’t have done this without them and the appreciation I feel for all of their efforts knows no bounds.  We started off as professional contacts, but we quickly grew into close friends, and then into family.  Thank you. 

And lastly, thank you to my family.  My wife and children have been very patient with me over these past four years, as I worked late hours, traveled almost every week for both work and school.  I missed many dinners, and  cancelled last minute on many of our family events.  To my lovely wife Naveen – not once did you complain (ok, well maybe once or twice).  But believe me that your patience and understanding didn’t go unnoticed.  My success is your success.   I couldn’t have done it without you.

 

Key Takeaways:

  • Sometimes selling your entire business isn’t the best option.
  • Your team plays a critical role in the success of your business.
  • Having a strong, supportive family is tantamount to your career goals.

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