Built to Sell Radio Ep 506 Exit Story: $50 Million Was His Number—Here’s How Josh Payne Got There
Aug 8, 2025
In this engaging discussion, Josh Payne, the Founder of Stack Commerce, shares his unique approach to building a profitable company without the usual VC hustle. He reveals how he aimed for a $50 million exit while maintaining 75% ownership. Josh dives into innovative e-commerce strategies tailored for media brands and discusses the evolution of affiliate marketing. He highlights the psychological challenges entrepreneurs face during exits and the importance of timing and valuation, all while emphasizing the journey's growth beyond just financial gains.
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Innovating Affiliate Commerce
- Stack Commerce innovated content-driven affiliate commerce with media brands like CNN.
- It let influencers own data and recurring revenue instead of just driving traffic to Amazon.
Changing Media Monetization
- Media companies initially resisted affiliate marketing as 'selling out'.
- Stack Commerce created white-labeled stores letting publishers monetize audiences directly.
Avoid Dilution by Profitability
- Raise small seed rounds to avoid dilution and keep equity majority.
- Achieve profitability to maintain control and avoid overfunding.
