Acquiring LaunchGram was a very simple deal, which took just a couple days to put together from start to finish. We sat down for a coffee and I talked to Andy about buying his site, explained how it fit with our vision, and asked him if he'd like to join us. I laid out what I thought the IP was worth and why, how we'd use it, and how he would fit into our team. A lot of what we talked about isn't implemented into Referly yet, or there are just tiny hints of what it come if you look for them. We shared very little of that vision for the future with TechCrunch because I don't believe in pre-announcing plans and promises and setting expectations when things could still change quite a bit.
I think it is important point out that I've known Andy for over a year, before he even moved to the Bay Area. We've been drunk, played poker, talked about the meaning of life, jumped over fireworks, played epic games of BOOM, hung out as neighbors in our hacker houses in Mountain View... so I didn't need to do any background check. I also was intimately familiar with the product, technology and market as an advisor to his company and 500 mentor. You might want to do a bit more background checking if you can't say the same about your potential acquisition target, but for me it was very clearly the right move.