Ryan Kulp
@ryanckulp8.7K followers
Bootstrapper who grew and sold Fomo, now building the TRMNL e-ink dashboard
TRMNL, Fera, Fomo
exit story · 2022 · marketing & seo tools
How Ryan Kulp Sold Fomo to Relay Commerce (2022)
Fomo was built by Ryan Kulp and sold to Relay Commerce in 2022 for 7 figures (reported). At the time of the sale it made Over $1M ARR.
Key facts
- Buyer
- Relay Commerce ↗
- Year
- 2022
- Price
- 7 figures (reported)
- Revenue at sale
- Over $1M ARR
- Years operated
- 6 years
- Channel
- Direct sale
Why they sold: Ryan Kulp felt it was time to hand the business to new owners with more resources and skills, having concluded that his team's strength was growing a product from hundreds to a few thousand customers.
The story of Fomo
Fomo is a social-proof app that shows website visitors notifications about recent purchases and signups. Ryan Kulp bought it in 2016, when it was a Shopify-only app called Notify run by an Australian founder. He grew revenue quickly, then rebuilt the app so it could support many platforms, eventually offering more than 100 integrations that doubled as co-marketing channels.
Kulp began thinking about selling in early 2021, about five years after buying Fomo. He first floated it anonymously through a friend's blog, paused, and then worked with an adviser, Neil Soni. After nearly committing to another buyer, the team found Relay Commerce, an e-commerce software operator backed by Primary Venture Partners, through Soni's network.
The deal closed in mid-2022 with Fomo at over $1M ARR and roughly 70% margins. CEO Hideko Tachibana stayed on, and Kulp moved into a consulting role for Relay Commerce.
Lessons Ryan Kulp shared
- 1.Kulp regretted spending nearly a year being casually open to selling instead of focusing on growth or committing to a real sale process.
- 2.Selling a larger company involves much more due diligence than buying a small one, and it can feel like a full-time job for weeks.
- 3.Decide up front what you need from a buyer, such as keeping the team, letting the product run independently, and a budget for growth.
Paraphrased from the maker's public posts and interviews (see sources).
The maker
See the Fomo product page or Ryan Kulp's full profile for everything they have built since.
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Sources
Facts are taken from the maker's and buyer's public statements and press coverage. Prices and revenue are shown only when publicly stated; self-reported figures are not independently verified.
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Fomo acquisition FAQ
Who bought Fomo?
Fomo was acquired by Relay Commerce in 2022 from Ryan Kulp.
How much did Fomo sell for?
Fomo sold for 7 figures (reported), as publicly stated. At the time of the sale it made Over $1M ARR.
Why did Ryan Kulp sell Fomo?
Ryan Kulp felt it was time to hand the business to new owners with more resources and skills, having concluded that his team's strength was growing a product from hundreds to a few thousand customers.
How long did it take Fomo to get acquired?
Fomo was sold about 6 years after launch, through a direct sale (sold directly to a buyer, often a competitor, customer or acquirer that reached out).
What did Ryan Kulp learn from selling Fomo?
Kulp regretted spending nearly a year being casually open to selling instead of focusing on growth or committing to a real sale process. Selling a larger company involves much more due diligence than buying a small one, and it can feel like a full-time job for weeks.