11 Oct Built to Sell Radio: Why Candy Banners Sold for a Mint
In 2014 Tim Grassin founded Candy Banners, which designs ads that show up along the top, bottom, and sides of a website.
Grassin built a remote team in the Philippines to minimize his costs. Hiring inexpensive developers allowed Grassin to charge lower rates to agency owners, resulting in rapid growth.
The business had grown to over seven figures in revenue in 2020 when Grassin received an acquisition offer from one of his clients, Native Touch. The offer valued Candy Banners at around five times EBITDA, and the deal closed in 2021. In this episode, you’ll learn how to:
- Build a company that can thrive without you.
- Establish trust with a team of freelancers.
- Repair a damaged relationship with your co-founder.
- Structure a favorable earn-out when selling your business.
- Avoid a tricky mistake many founders make during due diligence.
