Galen Ward, Founder and former CEO at Estately, talks about profitable growth, getting acquired, and finding his next idea.
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Estately grew to profitability with just over $1m raised and had a successful, strategic acquisition by Realogy.
He told me he had “no business starting a business.”
He learned on the job. Stuck with it for 10 years. Built Estately into a profitable company. And had a successful acquisition.
It's a great story of patience, persistence, and accomplishing a lot with limited resources.
Galen shares his story on this episode of The Built in Seattle Podcast
- Why he had no business starting a company.
- The co-founder dynamics that worked for Galen and Doug.
- Why creative people need a good "editor"
- The path to profitably.
- How he created a culture that avoided "sandcastles."
- Lessons from a year focused on parenting.
- Learning to send himself an email when angry.
- How he decided to sell.
- The challenges of running a business while negotiating an acquisition.
- His process for vetting new startup ideas and suspending disbelief.
Galen Ward Bio
Galen founded Estately to change the way people buy and sell homes. He quit his job as a GIS software engineer to create Estately with cofounder, Doug Cole. Together, they built and launched the V1 of Estately and bootstrapped it to thousands of users per month.
He raised over $1m from top tier angel investors including Jeff Clavier (Uncork Capital), 500 Startups and others.
When he sold Estately to Realogy (2015), millions of consumers started their search every month on Estately's website and iPhone app, Estately had triple-digit user growth, partnered with thousands of real estate agents covering more than 75% of the US population.
Galen is an advisor for three self-funded and venture-backed companies and has invested in a handful of tech companies over the last few years.