Hi Searchfunder Community! I am excited to share with you all the DueDilio 2022 Year In Review.


BACKGROUND

DueDilio is a leading online marketplace to hire highly vetted due diligence service providers.

I launched DueDilio in April 2021 to assist business buyers with sourcing and hiring the right due diligence service providers for their needs and budget. The idea for DueDilio came from my own personal pain point as well as speaking to others in the M&A ecosystem and this community. The goal is to save you time, money, and the hassle of researching, vetting, pricing, and hiring a diligence provider.

Today, the DueDilio network includes over 160 highly vetted due diligence service providers including verified independent professionals, boutique, and mid-size firms. These providers specialize in finance, technology, legal, and other key areas of business diligence.

DueDilio is completely free to use for clients.


2022 YEAR IN REVIEW

This past year has been the first full calendar year that DueDilio has been in operation. It’s been an exciting year of building, growing, and learning.


Some of our accomplishments in 2022:

• Worked with over 260 business buyers on their due diligence projects

• Website redesign for a more professional look and functionality

• Worked with service providers and content writers to populate our Knowledge Center with articles, templates, and checklists

• Formed partnerships with top M&A marketplaces & deal origination firms

• Excellent rating on Trustpilot


It goes without saying that there were plenty of challenges in###-###-#### As a platform that relies on M&A volume, the macro uncertainty presented some headwinds for the business. Around summertime, we started seeing more deals & projects get delayed or canceled. While it's still early in the new year, so far we have seen a sharp uptick in the number of new deals being completed. We hope this increase in deal activity continues going forward.

Financial due diligence (QofE, Proof of Cash) is the most requested service category accounting for around 45% of all projects. Legal services is a close 2nd with around 20% of all projects. Background checks, technology, and various types of commercial due diligence round out the most requested types of services. In terms of industries – manufacturing, home services, B2B services, and healthcare are the most popular. The typical deal size we saw was between $1M and $5M.

In 2022, the majority of our clients could be categorized as “Searchers”. These are individuals who are buying a business for the first time. Many of them are coming out of graduate school (MBA), the military, or leaving the corporate world to be the CEO of their own business. On a personal level, it feels great to be a part of their M&A journey. My favorite conversations are with these inspiring individuals. In addition to Searchers, we worked with a lot of family offices, boutique PE firms, and independent sponsors.


If you'd like to learn more about DueDilio, please visit our website: https://www.duedilio.com.


If you'd like to discuss anything related to SMB due diligence including timing or costs, just reach out. For a more DIY approach, check out our Knowledge Center which has free articles, templates, and checklists.


We're here to help with your due diligence needs!