Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Brad Miller

๐Ÿ‘ค Speaker
125 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

the business grew from 7 million, I guess, five to seven.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

And then last year we did 20 million making six.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

So, after I did the deal with Goldman at my previous company, Silver Sky, we had been buying companies.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

And at some point, they didn't want to keep buying companies because they felt like we were going to become viewed as a consolidator rather than an organic grower.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

And so there were companies that I wanted to continue buying and they didn't want to.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

So I asked for permission to buy the ones that I was looking at that they passed on.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

And so I left Silver Sky and then bought Awareness Technologies with another financial partner.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

And that's kind of how it happened.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

No, we were 50-50 equity partners.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

We each put up $2.75 million.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

We put up $5.5 million together.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

All that money went to founders.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

It wasn't money in the company.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

The founders, I may have told you this, went on to take that money and start a billion-dollar company called Quest Nutrition.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

I don't know if you're a fan of Quest Bars.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

Love Quest Bars.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

Yeah.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

But the business when I bought it was doing sort of 5 million, losing a million.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

And even though it was structured as a SaaS cloud delivery model, they were only charging a one-time fee, though providing service and cloud forever.

SaaS Interviews with CEOs, Startups, Founders
The Capital Efficient Founder: $2m in, $12m dividends out, Just Exited

And so the first thing we did was change that to a subscription model.

โ† Previous Page 1 of 7 Next โ†’