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 products and services 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.