We’re thrilled to announce that we’ve brought the Cross Sell Shopify app into our SaaS portfolio, and will be continuing 5-star support for its 3,000 store owners. Cross Sell takes the popular “you might also like…” feature and puts the shop owner in the driver seat of curating which products to sell, to whom, when.
So if a customer puts an “I love Corgis” hoodie in their cart, instead of selling them other dog-breed fandom items, they might offer up Corgi-themed socks and a coordinating sweater for their four-legged friend. (I’m not making any of these products up, by the way. Ecommerce is a wonderful thing.)
This simple approach to upsells and cross sells has driven more than 800 stellar reviews on Shopify.
However, while Cross Sell has all the hallmarks of a product we love — B2B SaaS, loved by its customers, and more potential for growth — its acquisition story is a bit different than our typical “founded by a bootstrapper, sold to SureSwift.”
Originally founded in 2014 by Steve Jones, the app was sold in 2017 to a micro-fund started by Ryan Kulp and Justin Mares, who also owned the Shopify app, Fomo. Then when Fomo was brought into the fold of Fork Equity, Cross Sell went with it before being sold to SureSwift in the summer of 2020.
Our CEO & Co-Founder Kevin McArdle has always said there are buyers for SaaS at every level of MRR, and Cross Sell’s story really demonstrates that. Fork Equity and SureSwift’s buying philosophies both revolve around bootstrapped B2B SaaS. But where Fork has focused on products well under $20k in MRR, SureSwift’s target is both a bit bigger on the starting range, and broader at $20k-$200k+. So it makes sense that in this case, we were an ideal buyer for them.
Bootstrapped Founders typically hit a decision point on what the future of their product looks like when it reaches a stage where they’d need to hire to keep running and growing it. Do they really want to get into the business of managing a SaaS, hiring, and growth to take the product to the next level, or are they more interested in starting a new project to get back to the early invention and “making” stage? The vast majority of bootstrappers we talk to wind up realizing that their heart is in making, not managing.
Another decision point for Founders who grow their products beyond this stage (or a product’s second owner), comes when the product’s grown quite a bit, but so has the risk. Leveling up again from there requires a bigger team, weekly (sometimes daily) tracking of SaaS metrics, more expertise in growth, and more capital to reinvest in the business.
So, although SureSwift usually focuses on buying great SaaS products directly from their Founders, we’re seeing more individuals actively buying very small or pre-revenue SaaS projects. And we’re happy to provide these ‘second founders’ a dream exit as well after they have taken care of that first leg of growth.
Because taking an app like Cross Sell to this next level, while keeping up 5-star support (or what we call Customer Happiness) is exactly what we do at SureSwift.