How iD Tech Went From the Verge of Extinction to a $200 Million Acquisition in 12 Months
Back in 1998, siblings Pete and Alexa Ingram-Cauchi started iD Tech to offer summer camps for kids who wanted to learn about computers.
The business grew each year and by 2019, was generating $70 million in annual sales hosting camps from Stanford to MIT and beyond.
Up in Smoke
In 2015, Lorenzo de Plano co-founded Solace Technologies, one of the first vape manufacturers in the United States. The goal of the business was to create a discreet vape pen that customers could use as an alternative to smoking cigarettes.
The business boomed to revenue of more than one million dollars a month, but a looming threat had de Plano eyeing an exit. So, when a $15 million offer came in, he bit.
One Company, Two 8-Figure Exits
Ed Buckley started Peerfit, which allows companies to offer fitness classes as part of their employee benefits package. The company grew to more than 150 employees before receiving an acquisition offer for almost $100 million from a major fitness brand widely reported to be Peloton. Buckley retained some of the IP, which, in a strange twist, he was able to sell in another eight-figure exit months later.
Selling Your Business vs. Getting Acquired
In 2012, Ryan Coon started Rentalutions, a platform to help landlords manage and communicate with their tenants more effectively.
The business showed steady growth, but Coon wasn’t satisfied.
Five years in, Coon rebranded the company to Avail and focused his marketing to target DIY landlords with under ten rental units to manage. The changes proved successful as Coon grew the business to around $7 million in revenue before selling to Realtor.com in 2020 for approximately five times revenue.
Are you stacking a few Benjamins?
, a personal finance podcast. Sehy’s journey was unusual: he started as a financial advisor, building a firm with $65MM in assets under management until he received a letter prompting him to sell.
Saying No To 7 Times Revenue
Eddie Whittingham started a company called The Defense Works in 2016. His idea was to provide companies with information on how to avoid getting hacked. Whittingham created a series of animated video clips explaining cyber security best practices and offered his content on a subscription model to companies.
The Shotgun Breakup
Back in 2006, Michael Kaplan and his partners bought into a Zerorez Carpet and Living Surfaces Care franchise. The business was generating $300,000 in revenue and losing $40,000 a year.
By 2019, the company was generating $17 million in revenue when Kaplan and his partner had an irreconcilable dust-up which led to Kaplan triggering their shotgun partnership agreement.
Raising Money? Avoid This Sleazy Investor’s Trap
Barry Hinckley founded Bullhorn with his two partners. They raised three rounds of financing and went on to sell for $135MM in 2012. Hinckley and his team raised money from family, friends, and venture capitalists and have the scars to prove it.
The Boomerang Sale
The first time David Phelps sold his dental practice, he ended up in a legal battle that cost him more than $100,000.
Turning the Tables on John
By now, you’re accustomed to hearing John Warrillow ask the tough questions.
Every month, we turn the tables and grill John on his favorite anecdotes and transferrable lessons from the latest batch of guests on Built to Sell Radio. In this episode, Dr. Jeremy Weisz gets John to reflect on what stood out, any missed opportunities, and how each story imparts the Built to Sell Methodology.
Why Candy Banners Sold for a Mint
In 2014 Tim Grassin founded Candy Banners, which designs ads that show up along the top, bottom, and sides of a website.
Grassin built a remote team in the Philippines to minimize his costs. Hiring inexpensive developers allowed Grassin to charge lower rates to agency owners, resulting in rapid growth.
The business had grown to over seven figures in revenue in 2020 when Grassin received an acquisition offer from one of his clients, Native Touch. The offer valued Candy Banners at around five times EBITDA, and the deal closed in 2021.
How to Get Your Employees to Care as Much as You
In 2009 Natalie Nagele and her husband, Chris, launched Postmark to help businesses deliver emails to their customers quickly.
A decade in, Nagele had grown the company to around 40 employees, which was when she began feeling burned out. The pull to explore new interests was the catalyst to accepting a life-changing acquisition offer from Active Campaign in 2022.