The Moving Parts of a $100M Exit with Ben Faw

The Exit - Presented By Flippa

Technology

5 • 2K Ratings

🗓️ 26 February 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on The Exit: Ben Faw has gone through two exits, one of which closed for a $100M valuation. In this conversation, Ben discusses how he selected the business to build, his criteria for finding an M&A advisor at the beginning of the exit process, and some metrics the buyer was looking at that ultimately led to closing the deal. In regards to the timing of the sale, interestingly, Ben starts thinking about selling a business when everything is going well, as this is when you can sell for the highest valuation and attract the best buyers. Aside from the success of the exit itself, another major accomplishment and testament to the quality of the company was in growing a team of 100, ~95 of whom stayed with the company after the exit. For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit here. Ben Faw is the Co-Founder and current CEO of AdVon Commerce. Prior to this role, Ben was the Co-Founder at BestReviews, which was acquired by Tribune Publishing in February 2018, and later Nexstar in November of 2020. Ben has been published by Harvard Business Review, CNN, BusinessInsider, and many more. He is a board member at BeautyBakerie.com and Ben previously worked at LinkedIn, Tesla, and served in the US Army. LinkedIn: https://www.linkedin.com/in/benfaw/ Website: https://dynamism.capital/ Website: https://www.advoncommerce.com/ For a Free Flippa Business Valuation: https://flippa.com/exit -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Transcript

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0:00.0	Hello and welcome to the exit presented by Flip Up the number one platform to buy and sell online businesses
0:05.9	Flipa manages over a billion in deal value annually and combines expert buy and sell side advisory with its market leading valuation tool,
0:14.2	Deal Room, Off Market Offering, Market Insights,
0:17.3	an AI-based deal-by-deal matching engine.
0:20.7	Now for the exit.
0:21.9	The exit is a 30 minute podcast featuring awesome
0:24.4	entrepreneurs who have been there and they have done it. The exit talks to
0:27.6	operators who have bought and sold businesses of all different sizes. You learn
0:31.5	how they did it, why they did it, and get exposure to the world
0:34.8	of exits.
0:35.8	It's a world occupied by a small few but accessible to many.
0:39.6	On this episode of the exit I sit down with Ben Foth. He is the co-founder and CEO of
0:44.2	Advonne Commerce, and this is a fantastic conversation about different deal structures.
0:50.8	Ben walks through these really, really complex acquisitions.
0:56.9	He was part of two different exits and they're very unique and I really like this specifically
1:01.8	because no deal is the same and some are very complex.
1:06.7	And this is a great example of how complex a headline can be.
1:11.8	Getting acquired for over a hundred million dollar valuation on a company.
1:17.6	On the headline sounds incredible and of course you know Ben mentions that he's very grateful for this acquisition
1:24.0	the first acquisition that he went through but it is a really great breakdown
1:28.5	of actually what that means in terms of earn out what that means and cash, stock, and everything.
1:35.0	And Ben and I go on to talk a lot about how, you know, building a team up to 100
	...

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