Onradar, an Azerbaijani startup, has been acquired by the head of an IT company based in the USA. The startup’s founder, Rufat Mammadli, has made a statement regarding the acquisition. Mammadli mentioned that he had not posted on Facebook about this field for a long time, noting that he had been busy with personal and business matters.
Mammadli discussed the reasons for the sale and his future plans: “My decision to sell the startup was driven by my desire to invest in more interesting fields. I am confident that Onradar will grow further in the right hands and could even become a million-dollar company. I will temporarily work with the new owner to complete the handover process. After that, I plan to start building a new business and brand from scratch with an exciting startup idea. For now, I plan to take a break.”
“The new owner of Onradar wishes to maintain confidentiality due to personal reasons. They are currently the CTO of a ‘cloud’ company in Arizona, USA. The sale amount is in the five-figure range. Overall, it was a satisfactory and exciting transaction. This sale will further strengthen my next startup project. I plan to work on another B2B cloud service startup in the same vein.”
The sale has been seen as an exciting step for Mammadli and a significant motivator for his next major project.