Built to Sell Radio

This week on Built to Sell Radio, we're excited to feature a special episode with clinical psychologist, speaker, and author, Dr. Sherry Walling. Dr. Walling is renowned for her work with entrepreneurs, aiding them in navigating the mental and emotional hurdles of building and exiting a company.

In 2014, Mark Wright, who won BBC's The Apprentice, used the $250,000 prize to co-found Climb Online, a digital marketing agency, in collaboration with business tycoon, Lord Sugar. Their collective reputation and expertise in the industry enabled the digital agency to flourish, eventually becoming one of the largest in the UK, with a workforce of 130 employees at its height. In 2022, Climb Online achieved a significant milestone as it was acquired by xDNA, a global digital agency group, for a value that amounted to 9.5 times its EBITDA. This acquisition marked the first successful business exit for a participant in The Apprentice.

After a 23-year journey building Non-Linear Creations into a marketing giant with more than 120 employees, Randy Woods sold it in 2017 to Valtech. Valtech is a distinguished digital agency offering marketing, digital technology, and business transformation consulting services. Post-sale, Woods now serves as the SVP of Strategic Growth Opportunity at Valtech, a role dedicated to identifying potential acquisitions for the business. In the latest installment of Built to Sell Radio’s Inside the Mind of an Acquirer series, we sit down with Woods.

In 2011, Tyler Smith, one of the top three real estate agents in California, launched SkySlope, a software platform that enables real estate professionals to efficiently manage their transactions, documents, and communication in one centralized system. Smith successfully bootstrapped the company to around $12 million in annual recurring revenue by 2016, attracting significant attention from potential acquirers. Among the interested parties, Fidelity National Financial emerged as the ideal fit, acquiring 67% of SkySlope in a deal valuing the company at over $80 million.

In 2017, Miles Faulkner partnered with Martin Cleaver to establish Blended Perspectives, a reseller specializing in Atlassian products, which offer software solutions for large teams. To distinguish themselves from other resellers, Faulkner devised an innovative product that set them apart from other Atlassian resellers. By 2022, Blended Perspectives had achieved approximately $30 million in revenue. Recognizing an impending industry consolidation, Faulkner made the strategic decision to sell to Contegix, a competing Atlassian distributor, for a multiple far better than what a typical reseller usually fetches.

Josh Abramson has an impressive track record of building valuable companies. In 1999 Abramson started CollegeHumor.com and before he could even graduate, Abramson had received an offer of $9 million for the website. Abramson went on to start the popular video-sharing website Vimeo and apparel company BustedTees.com selling his collection of companies to Barry Diller’s IAC/InterActiveCorp for a reported $20 million in 2006. After a short stint reporting to Diller, Abramson left IAC and started TeePublic, an innovative online marketplace that serves as a platform for artists and designers to showcase and sell their distinctive designs on a wide range of products, including t-shirts and hoodies. With Abramson at the helm, TeePublic grew to $41 million in revenue and $4.5 million in EBITDA before he decided to sell to RedBubble in a $41 million deal, $36 million of which was in cash.   

In 1998, Lori Morton founded AerieHub, a customizable mobile app that helps facility managers efficiently control building information and operations, including compliance records, blueprints, and employee training. Morton onboarded industry giants such as Netflix, Michelin Tires, GE, Bosch, and others reaching over $1 million in annual recurring revenue. Thanks to a rigorous onboarding process and exceptional customer service, Morton lost only two clients in 24 years. In 2022, JDM Technology Group acquired AerieHub in a lucrative 100% cash upfront deal.

In 2017, Gamal Codner established Fresh Heritage, an e-commerce company that created grooming products specifically for men of color. Codner grew Fresh Heritage quickly with Facebook ads and online reviews, but relying solely on paid customer acquisition almost bankrupted the company. Codner introduced a subscription program and turned one-time customers into automatic repeat purchasers, dramatically increasing the lifetime value of a customer. As a result, Fresh Heritage's revenue skyrocketed to over $4 million. In 2022, BRANDED, a leading global operator of digital-first consumer brands, acquired Fresh Heritage from Codner.

In 2008, Brandon Lazar started A+ Gutter & Window Cleaning, servicing homeowners in British Columbia, Canada. Lazar successfully bootstrapped the business, generating nearly $1.5 million in revenue before being approached by an acquirer.  Lazar sold A+ Gutter & Window Cleaning to a private buyer in 2023 for approximately 3.5 times EBITDA, without an earn-out.

In 2016 Susanne Klepsch launched Meetfox, a scheduling and video calling solution that helps service professionals manage and monetize their time.  By 2021 Meetfox had acquired a user base of 25,000. As Klepsch observed competitors being acquired by large software companies, she recognized the need to partner with a major player to compete effectively with Calendly. Consequently, she initiated a merger and acquisition process, reaching out to over a hundred companies, including the venture-backed, all-in-one marketing software Sendinblue. Eventually, Sendinblue made her an offer she couldn’t refuse.