Acquiring Minds Buying for $600k, Selling for $35m
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Dec 1, 2025 Jake Bittner, an entrepreneur and former CEO of a GovTech data analytics firm, shares his captivating journey from acquiring a struggling carve-out for $600k to selling it for $35m. He discusses the pivotal moment when he pivoted the business, leading to a revenue surge of $20m and ultimately attracting private equity interest. Bittner also delves into the importance of valuing a money-losing company, the intricacies of deal structuring, and the post-sale challenges he faced, while now focusing on investing and coaching the next generation of entrepreneurs.
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Joining A Carve-Out Instead Of Building From Zero
- Jake took a CEO role running a carve-out from his MicroStrategy colleague instead of starting from scratch.
- The carve-out turned out to be losing money and required buying and rebuilding the business.
How A Losing Business Still Has Value
- A money-losing business can still hold value via contracts, references, and operational processes.
- Jake hired two valuation firms to find a fair price between owner expectations and buyer reality.
Use Seller Financing To Close Tough Deals
- Negotiate seller financing if you lack cash and offer attractive terms to the sellers.
- Jake secured 100% seller financing with a high interest rate to make the buy feasible.
