I’ve been through a number of M&A efforts involving startups. They’ve always been super smart, scrappy, and driven. However, as they grow, operational effectiveness and ability to scale becomes the challenge. The acquirer seems to fight battling trying to be sensitive to the start up culture while enabling them for growth. There also seems to be sensitivity to balancing the founder/s of the startup and keeping them engaged, happy, and committed with the wishes of the acquirer to operate smarter and to follow a defined strategy. Not easy!