How Quire used Ideals VDR to close a deal with Fox Corporation in 45 days

Overview

Quire is a New York-based boutique advisory specializing in media, technology, and consumer businesses. Founded by a former UBS and RBC banker, the firm takes a targeted approach to M&A, preparing companies for market with tailored positioning and a focused buyer strategy. 

Ideals Virtual Data Room (VDR) is central to Quire’s approach. Over the past five years, the firm has used the platform across six transactions, most recently the sale of Red Seat Ventures to Fox, which completed in 45 days.

“Ideals helps us educate buyers, maintain momentum, and move from initial interest to a successful close faster,” said Jason Anderson, Founder of Quire.

The context

Quire was founded on the belief that the traditional sell-side model needed to evolve. Jason viewed broad buyer outreach without deeper preparation and buyer insight as increasingly ineffective in a selective market.

Before launching a sale process, the firm brings in external experts, including technologists, ex-founders, and financial operators, to add specialist expertise to each mandate. Quire uses those insights to identify the buyers most likely to recognize the company’s value and present a compelling investment case. 

That approach came to life in Quire’s sale of Red Seat Ventures, a podcast and live events company. 

Key challenges

Quire experienced unnecessary friction with other VDR platforms. Setting up folders was complicated, updating or removing files was time-consuming, and buyers faced issues accessing the platform. 

Jason needed a solution that simplified deal management for his team and improved the buyer experience: 

• Straightforward setup and document management
• Simple, reliable access for external parties
• In-platform collaboration tools to move communication away from email
• Visibility into buyer activity and engagement throughout the process

Pricing flexibility was also important. Quire needed a platform that could scale as a transaction progressed, rather than committing to large upfront capacity and fixed costs. 

“Clients are happy to pay more when a deal progresses and they need additional storage, but they don’t want to pay upfront for storage they may never use,” said Jason. “Ideals has the most flexible pricing model of any VDR we’ve used.” .

Solution

Quire switched to Ideals after a recommendation from a former colleague, and the platform quickly stood out for its ease of use. 

“The user experience is a real differentiator,” said Jason. “It’s so easy to access information and collaborate with different parties. We’ve actually had buyers ask us who makes the platform as they’re used to Datasite and said Ideals is far better.” 

Ideals gave Quire greater control over the buyer process, allowing the team to manage access, track engagement, and keep information moving efficiently between parties. “You need strong security and controls, but you also need a platform that makes life easy for investors. Ideals gives you both without the complexity of other VDRs,” said Jason.

With Ideals, Quire can: 

• Control information flow with staged document releases and permissions
• Track user activity to gauge interest and accelerate decisions
• Respond quickly to buyers by adding and updating documents instantly
• Avoid unnecessary upfront costs with flexible, scalable pricing 

In the Fox transaction, Quire used the data room to showcase the broader value of Red Seat Ventures, highlighting its audience engagement, creator relationships, live events, and growth opportunities beyond podcasting. 

“The detailed reporting around buyer activity gave us the confidence to push harder on the timeline,” said Jason. “When there’s a strong buyer and you have the right tools, you can drive the pace of the process. With Ideals, we completed the transaction in 45 days.”

The future

Quire continues to use Ideals, with a focus on accelerating transactions without sacrificing quality. The platform’s AI capabilities are helping buyers analyze information faster, creating further opportunities to shorten deal timelines. 

“With technology, you’re trying to accelerate everything as much as possible,” said Jason. “The goal is always faster, more informed processes that end in successful transactions for our clients. Ideals helps make that possible.”