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Embanet broke just about every rule there is for running a company and still sold for $200M.
Jeffrey Feldberg and Stephen Wells founded Embanet to help colleges take learning online. Embanet provided hosting, tech support, course conversion, and then moved into helping universities and colleges fill the online programs.
Despite their unorthodox management style, Feldberg and Wells built Embanet to 200 employees in just 7 years. When they decided to exit, they had $18M in EBITDA and 80 interested buyers. They sold for $200M, which was around 13x EBITDA.
In this episode, you’ll learn:
Feldberg and Wells estimate they could have gotten 20% more for their company if they’d developed a more professional executive management team and not been as involved in the day-to-day management of their business. We call this being stuck in the “Owner’s Trap”, and Module 7 of The Value Builder System™ shows you how to get out of it. Start right now by completing Module 1.