You can build a strong company and still botch the sale.
In this week’s Built to Sell Radio, Andrew McConnell tells the story behind his exit of Rented, a SaaS company that helped vacation rental managers price homes dynamically. He built it after a first model hit a ceiling, then discovered a second hard truth: selling a company is not the same as selling a product.
In the episode, you discover how to:
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Avoid the “I know the three buyers” mistake that drags on for months
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Spot when a business has demand but the model has a ceiling
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Pivot without blowing up your cap table
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Understand liquidation preferences and why they matter at exit
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Use a banker to create urgency and competitive pressure without you being the bad guy
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Think about earn-outs before you agree to one
Quote of the Week
The best time to sell was six months before I did. The second best time was exactly when I did.
Deals
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interworks.cloud (seller), a Greece-based value-added cloud distributor serving reseller markets across Southeastern Europe, sold to Climb Global Solutions, Inc. for approximately €8.0 million ($9.4 million). The business reported adjusted EBITDA of approximately €901,000 ($1.0 million), which implies a valuation of roughly 8.9x EBITDA.
