The Europeans’ latest insufferable maneuver, GDPR, forced 10s of 1000s of tech companies to scramble toward “compliance” in mere weeks.
at Fomo we published a 20 page DPA and modified our T&C to stay in the clear.
some media companies, advertising platforms, and social networks even shut down European access completely.
the winners? lawyers.
when life gives you lemons
i acquire companies through 3 investment vehicles:
- Fomo (competitor add-ons, UGC content)
- mkay holdings (ecommerce apps)
- Fork Equity (small businesses, SaaS)
real estate agents claim the best deals fit one of the Three D’s:
divorce, debt, or death.
the same goes for startups, but today i’ll add a 4th: Regulation.
my old boss says businesses buy things to make money, save money, or stay out of jail. for these reasons my partners at Fork decided to turn the GDPR situation into a profit center.
we acquired a cookie consent plugin.
introducing Cookie Assistant
after exchanging a few emails we acquired the tool, which organically gets 3-5 freemium signups per day.
here’s how it looked when we bought it:
and here’s an early glimpse of our progress:
i know nothing about the law or this tool’s competitors.
time for a SWOT analysis.
- Cookie Assistant should target ops folks at US-based companies w/ 20%+ pageviews in EU
- Cookie Assistant onboarding should begin with the theme editor, possibly on a logged out page
- Cookie assistant should have an annual plan
- Design (90% done)
- Geotargeting (0% done)
- Pricing (in progress)
- Compliance controls (0% done)
with these insights, a Trello board was born.
businesses are either “build and sell” or “hold forever” opportunities.
for us, Cookie Assistant will be a forever-hold. passive income is more interesting than re-selling it to a bigger company or another micro PE firm.
in the coming months we’ll improve the stats, theme builder, and post-consent options, to give both businesses and their website visitors more control over compliance and privacy.
cheers to regulation, and cheers to profiting from it.