Jaclyn Johnson

We pivoted to digital. We luckily had a membership in place that we were able to monetize quickly. We retained 90% of our sponsors in minimal layoffs. Yeah, we were very lucky. And we were able to pivot very quickly and took a revenue hit, but actually maintained EBITDA, which was really exciting for us. So it was a good story for potential buyers.

We pivoted to digital. We luckily had a membership in place that we were able to monetize quickly. We retained 90% of our sponsors in minimal layoffs. Yeah, we were very lucky. And we were able to pivot very quickly and took a revenue hit, but actually maintained EBITDA, which was really exciting for us. So it was a good story for potential buyers.

Now, what had happened was all the strategic buyers that were interested obviously had struggled during COVID or had lost a lot of money and were not in acquisition mode. But private equity was booming during that time. They were sitting on a ton of cash and were interested in buying companies that had done well during COVID. So we ended up doing a deal with private equity.

Now, what had happened was all the strategic buyers that were interested obviously had struggled during COVID or had lost a lot of money and were not in acquisition mode. But private equity was booming during that time. They were sitting on a ton of cash and were interested in buying companies that had done well during COVID. So we ended up doing a deal with private equity.

Now, what had happened was all the strategic buyers that were interested obviously had struggled during COVID or had lost a lot of money and were not in acquisition mode. But private equity was booming during that time. They were sitting on a ton of cash and were interested in buying companies that had done well during COVID. So we ended up doing a deal with private equity.

So private equity, essentially the goal of private equity is to find companies that are highly profitable, high revenue and have a lot of potential to grow to then do a secondary sale. So essentially the goal of private equity is to come in, provide infrastructure and expertise as well as cash to basically pour fuel on the fire of an already existing company that's doing well.

So private equity, essentially the goal of private equity is to find companies that are highly profitable, high revenue and have a lot of potential to grow to then do a secondary sale. So essentially the goal of private equity is to come in, provide infrastructure and expertise as well as cash to basically pour fuel on the fire of an already existing company that's doing well.

So private equity, essentially the goal of private equity is to find companies that are highly profitable, high revenue and have a lot of potential to grow to then do a secondary sale. So essentially the goal of private equity is to come in, provide infrastructure and expertise as well as cash to basically pour fuel on the fire of an already existing company that's doing well.

to then sell it for a higher price in two to five years. That's essentially the goal.

to then sell it for a higher price in two to five years. That's essentially the goal.

to then sell it for a higher price in two to five years. That's essentially the goal.

Yeah. And really similar to venture in a way is they're basically going to invest in 20 companies and hope one succeeds. Like that's their model. When they go into it, failure is not even failure for them. It's just like another write-off or write-down. Whereas you, the founder, is like, this is my company, this is my baby. Like, it's just a different mentality.

Yeah. And really similar to venture in a way is they're basically going to invest in 20 companies and hope one succeeds. Like that's their model. When they go into it, failure is not even failure for them. It's just like another write-off or write-down. Whereas you, the founder, is like, this is my company, this is my baby. Like, it's just a different mentality.

Yeah. And really similar to venture in a way is they're basically going to invest in 20 companies and hope one succeeds. Like that's their model. When they go into it, failure is not even failure for them. It's just like another write-off or write-down. Whereas you, the founder, is like, this is my company, this is my baby. Like, it's just a different mentality.

And there's actually a really good episode of Freakonomics on private equity that you should listen to if you haven't yet. It talks a lot about the breakdown of what it's doing, why it's not great for some businesses, but great for other businesses. And it's really interesting.

And there's actually a really good episode of Freakonomics on private equity that you should listen to if you haven't yet. It talks a lot about the breakdown of what it's doing, why it's not great for some businesses, but great for other businesses. And it's really interesting.

And there's actually a really good episode of Freakonomics on private equity that you should listen to if you haven't yet. It talks a lot about the breakdown of what it's doing, why it's not great for some businesses, but great for other businesses. And it's really interesting.

Exactly.

Exactly.

Exactly.