My First Million How I Reverse Engineered A $100 Million Exit - Jason Lemkin
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Apr 10, 2024 
Jason Lemkin, founder of EchoSign and a venture capitalist, shares valuable insights on scaling successful tech companies. He reveals seven essential rules for achieving a $100M business exit. Key topics include the revenue-per-employee model, the critical need for multi-product growth, and the importance of pricing strategy. Lemkin highlights the value of international markets and maintaining high net revenue retention. He emphasizes keeping funding in check to secure greater control and higher exit values, alongside the emotional challenges faced by startup founders.
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Nanogram Devices Exit
- Jason Lemkin's first software startup, Nanogram Devices, sold for $50 million after just 12.5 months.
- He made around $8-10 million from the exit after raising a difficult seed round.
EchoSign Acquisition
- Jason Lemkin's EchoSign, similar to DocuSign, achieved $1 million monthly recurring revenue while burning $4 million.
- Despite being cashflow positive and growing 100%, they sold to Adobe in 2011, a decision Lemkin felt was emotionally wrong.
Revenue Per Employee
- Target $300,000-$400,000 revenue per employee for scalable business models.
- Angel/VC money bridges the gap, but your model must eventually reach this efficiency.