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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.
Personal Bio:
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/
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/
