TECHNICAL.LY – Jan 19 – Bae announced earlier this month it was being acquired by if(we), the parent company of the social networks Tagged and Hi5, among others. The app, founded by brothers Brian and Justin Gerrard, is moving to San Francisco and folding into if(we).
Q: Why did you guys decide to sell?
Brian Gerrard: Tagged is where we would aspire Bae to be in 10 years. They have tremendous technical talent and a time testing business. We are happy to bring our marketing and growth expertise to their business via the acqui-hire.
Q: How much did it sell for?
BG: The terms of the deal are currently undisclosed.
Q: How were you approached by if(we)?
BG: if(we) is chasing a similar user to Bae in the U.S. — Black singles. We had success with tapping into the Black millennial market, and so they saw an opportunity to bring us in and do so on a larger scale.
Q: What will you guys be doing for them?
BG: I am heading up marketing and innovation at if(we) in San Fran. I am also continuing my startup consulting practice via brianjgerrard.co.
Q: What was the experience like of building up a product from nothing to be valuable enough to have an exit?
BG: It was a tremendous effort, an experience that I wouldn't change for anything. I have learned more about business working on Bae then I have in my entire career.
by Tyler Woods
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Summarized by the Courtland Brooks team