Built to Sell Radio

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Ep 405 Betting It All to Build a $100 Million Outdoor Luxury Empire with Sarah Dusek Sep 01, 2023

Show notes

Sarah Dusek and her husband started Under Canvass, which offered large-scale tented hotels (think "glamping") outside national parks around the U.S.

The business got off to a successful start, and within five years, Dusek had four locations, which were collectively generating $3 million in EBITDA. Rather than sit still, Dusek decided she wanted to grow much larger and raised $16 million of capital made up of a combination of equity and mezzanine debt at a rate of 13%, which Dusek personally guaranteed.

The stress of having her entire net worth tied to her business eventually caught up to Dusek, and she decided to sell a majority stake of her business to a private equity group (KSL Capital). Dusek rolled 25% of her equity and stayed on as CEO. By the time she stepped down from her leadership role, Under Canvass was worth more than $100 million.

Ep 404 How Michia Rohrssen Sold Prodigy For 65x Revenue Aug 25, 2023

Show notes

In 2015, Michia Rohrssen co-founded a SaaS business called Prodigy to help car dealerships sell online. He grew the company to $3.3M in annual revenue when he faced a difficult decision.

Rohrssen thought he could sell Prodigy for around 4-6 times revenue, but after paying off his investors, there wouldn't be much left over for the founders. That's when he decided to make a risky pivot to his business model. The change meant a short-term drop in Prodigy's revenue, while also making it more attractive to strategic acquirers. Ultimately Rohrssen and his co-founder sold the smaller version of his company for a staggering $110 million, or around 65 times revenue.

Ep 403 Should You Hire a COO? with Casey Cavell Aug 18, 2023

Show notes

Casey Cavell has plenty of party stories: he dropped out of college to become a professional poker player, tried his hand (successfully) at buying self-storage facilities and apartment complexes, and eventually found his way to the business of baseball. More specifically, a franchised baseball academy for 5-10 year olds that he grew to five locations.

Cavell essentially managed two exits from his D-BAT Academy franchises, first selling 66% of the business at a value of $1.5 million and then unloading his remaining equity at a $10 million valuation.

Ep 402 Fetching an 8-Figure Exit with Amman Ahmed Aug 11, 2023

Show notes

In 2017, Amman Ahmed founded MusicForPets, which launched the YouTube channels "RelaxMyDog" and "RelaxMyCat." Th ese channels aim to alleviate pets' anxiety, whether due to stress or their owners' absence.

Under Ahmed's leadership, the channels amassed over 2 million subscribers and generated a 7-figure profit, largely because of effective SEO. As the business saw a surge in paid monthly website subscribers, it garnered the interest of California-based hip-hop label, Create Music Group, which extended a lucrative 8-figure offer that Ahmed couldn't turn down.

Ep 401 Capitalizing on the Shift From Bricks to Clicks with Chad Rubin Aug 04, 2023

Show notes

In 2006, Chad Rubin built Skubana, a tool specifically designed to streamline the operation of his e-commerce store across diverse channels. Sensing the software's potential, Rubin decided to offer Skubana to other online store owners.

The platform rapidly resonated with e-commerce entrepreneurs, accumulating $5 million in annual recurring revenue by 2021. The company's success drew the interest of prospective buyers, eventually culminating in an irresistible offer from 3PL Central, a premier provider of warehouse management software.

Ep 400 How Alex Macdonald Sold Velocity Black to Capital One for a Reported $297 Million Jul 28, 2023

Show notes

In 2014, Alex Macdonald co-founded Velocity Black, a global digital concierge service for affluent clients. Unlike the basic concierge services of some credit cards, Velocity Black leverages technology and expert knowledge to curate personalized services such as travel, entertainment, shopping, and dining, accessible directly from your phone.

By 2022, the business had expanded to $30 million in net revenue, attracting attention from potential buyers including Capital One which acquired Velocity Black for a reported $297 million.

Ep 399 How to Teach Your Employees Your Secrets with TXG's Ian Fraser Jul 21, 2023

Show notes

Ian Fraser, a former professional golfer from Scotland, turned his expertise in fitting golfers with the right clubs into a successful venture, Tour Experience Golf (TXG), in 2016.

His aim was to bring PGA Tour quality club fitting to everyday golfers. As TXG began to flourish, Fraser realized he needed to expand his team and impart his unique skills to them. By devising an innovative hiring process and employing a creative teaching method, he was able to grow TXG to a team of 14 employees, a YouTube fan base of 150,000 subscribers, and revenue exceeding $2 million.

TXG attracted the attention of Club Champion, the United States' largest club fitting company with more than 100 locations.

Ep 398 Building to Sell: The Molzi Journey from Startup to Brainlabs Acquisition with Chris Mole Jul 14, 2023

Show notes

In 2017, Chris Mole, based in the UK, founded Molzi, a full-service digital marketing agency catering to Amazon sellers. As pioneers in the field, the company witnessed significant growth. By 2020, amidst the lockdown-fueled e-commerce boom, Molzi doubled its team size to over 70 employees and generated revenues exceeding £4.5 million.

In 2021, their success caught the eye of Brainlabs, who acquired Molzi, paying 75% of the purchase price upfront and committing the remaining 25% to an earn-out agreement.

Ep 397 Inside 23andMe's $400 Million Acquisition of Lemonaid Health with Paul Johnson Jul 07, 2023

Show notes

In 2013, Paul Johnson founded Lemonaid Health, one of the first digital healthcare platforms designed to offer virtual medical consultations and prescription services online.

While the company got off to a slow start, the pandemic accelerated the adoption of online healthcare. By the end of 2021, Lemonaid had agreed to be acquired by the DNA testing outfit 23andMe, for $400 million of cash and stock.

Ep 396 Inside the Mind of an Acquirer with ASG's CEO, Steve Reardon Jun 30, 2023

Show notes

In 2009, Steve Reardon sold Peldon Technologies, a company he founded which provided pharmacies and retailers with photo printers and multifunctional kiosks. Following his departure, Reardon developed a passion for running businesses, a path that ultimately led him to venture into acquisitions.

Now, Reardon serves as the CEO of Alpine Software Group (ASG), a branch of Alpine Investors. ASG's main objective is to acquire companies that specialize in vertical Software as a Service (SaaS) solutions.

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