Built to Sell Radio Ep 520 How Chris Hutchins convinced Google to buy Milk—and Wealthfront to acquire Grove—despite not generating much revenue (and no EBITDA)
Nov 14, 2025
Chris Hutchins, a serial entrepreneur known for his roles in Milk (acquired by Google) and Grove (acquired by Wealthfront), shares insights on strategic exits. He discusses how companies can value non-profitable assets by focusing on team and product potential. Chris reveals the importance of reframing pitches to highlight product affection over revenue and managing quick acquisition processes. He also emphasizes protecting employees during transitions and shares lessons on the true value of assets in today's market.
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Product Worked But Couldn’t Scale
- Chris built a financial-planning product that advisors loved but hit a customer-acquisition wall.
- After trying pricing and marketing experiments, he concluded the product worked but couldn't scale profitably.
Focus On The Single Scalability Constraint
- Focus relentlessly on the one thing that will break your company as you scale.
- Prioritize solving the unknown constraint instead of optimizing known areas you already control.
Target Buyers Who Can Move Fast
- Build a targeted buyer list and leverage your network to reach out quickly.
- Prioritize suitors who can act fast and offer realistic paths for employees and customers.