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Built to Sell Radio

Ep. 74 Would You Have the Audacity to Turn Down $40MM for a $9MM Company?

21 Dec 2016

Description

In 1992 Stephanie Breedlove started a payroll company to make it easier for parents to pay their nannies. It began small and she self-funded their growth, which averaged 20% per year. By 2012 they had hit $9 million in annual sales when she got a call from Sheila Marcelo, the CEO of venture-backed Care.com. Marcelo wanted to buy Breedlove's company and offered her almost $40 million—more than four times Breedlove's revenue, an astronomical multiple that only serves to underscore Breedlove's audacity when she turned it down. Breedlove wanted more and ultimately settled on a price of $55 million for her $9 million business. In this episode, you'll learn: how to strategically walk away from an offer. what to do when you reach a negotiation impasse. three criteria every owner should consider when selling. the pros and cons of accepting stock as compensation.

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