SaaS M&A - What's valued most?

When companies buy SaaS Startups, they usually look to buy one of three things (they might tell you they value more, but there is usually only one thing they really want):

  1. Intellectual Property
  2. People
  3. Customers

As the owner, you probably think all three are very valuable. The buyer might only value one of them. This can lead to an interesting standoff in negotiations.

Try to know yourself very well and determine which of these three is the most important for your potential buyer, and which is the most valuable in your opinion. If these are not aligned one of the two parties might get very frustrated before, during or after the deal.