Mitch Russo
๐ค SpeakerAppearances Over Time
Podcast Appearances
Let's see, that would be 1998.
Well, we sold in 19, we basically sold in 1994 and we, I then moved to Texas and ran my division, actually my two divisions along with three others until my earn out was over.
And then at that point I took over as chief operating officer of Sage us.
And that's when in 1998,
That was the final year of my transition.
And I decided that Sage wasn't a fit for me and it was time to go.
So I moved back to Massachusetts.
Revenue was about 5.6 million.
Well, I mean, they were paying 18, 15 to 18 times profits at the time.
Um, so we were, you know, we were looking for, uh, probably two times sales, which was unusual.
Only crazy companies got two times sales.
So we were pretty happy.
We got one X, our, our top line number.
No, we sold for 10 and a half million.
Yes.
But let me tell you the interesting way this worked out because we had,
basically brought two buyers to the table simultaneously.
And one buyer offered full price.
We were asking for $9 million.
So one buyer came to the table with a checkbook and said, we'll take the company.