Having been through a few acquisition / investment processes with start-ups as managing M&A for a corporate, I would add to the good input from others that it is beneficial for an industrial acquirer to both explain how they work (slowly, processes, asking for very detailed information, difficult to handle focus on other things than profit margin e.g. Monthly Unique Visitors) for the start-up to be prepared as well as put pressure on the start-up to have things in order e.g. financials, taxes, legal docs. Without this, it is set up for tension between the parties in the process.
