Most founders are told the same story: if you want a meaningful exit, you have to crack the U.S.
Nick Telson-Sillett did the opposite.
He and his co-founder built what you could call “OpenTable for bars and nightclubs” in the UK. When advisors and investors pushed them to expand to the States, they chose a different path: dominate their home market first, keep the company lean, and aim for a clear definition of financial freedom.
That choice paid off. They sold the business for more than $40 million.
In this week’s Built to Sell Radio, Nick walks through the logic behind staying UK-first, how they knew when it was time to sell, and what nearly blew up the deal on signing day.
You’ll learn:
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Spot when “bigger market” advice is a trap for your company
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Choose a market you can own instead of one you can only chase
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Set a financial freedom number and use it to guide your exit strategy
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Structure a sale process without tipping off competitors too early
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Negotiate an earn-out tied to revenue so outcomes stay in your control
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Prepare for the identity shock that can follow an exit
Quote of the Week
Let’s dominate our home city.
Deals
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Particle Industries, Inc., a subscription-based provider of edge-to-cloud infrastructure that helps companies build and manage connected IoT devices, was acquired by Digi International Inc., a public IoT hardware and services provider. Digi paid $50 million in cash for Particle, which generates approximately $20 million in annual recurring revenue, valuing the business at roughly 2.5x ARR.
