They Got Acquired: Recent Episodes
They Got Acquired, Alexis Grant
A show about life-changing business acquisitions and founders who don't follow the Silicon Valley narrative.
These stories will inspire you to think differently about how you build your business. And if an exit is in your future, you'll learn practical tips about how to get there.
Hosted by Alexis Grant, founder & CEO of They Got Acquired, and produced by Laura Boach.
CFO Lauren Colson tells us how founders can clean up their financials so buyers trust the numbers. Plus, our new course, The Exit Playbook, is live!
Many founders think their books are in good shape — until a buyer starts asking questions.
In this interview episode, you’ll learn:
- How buyers evaluate financials during diligence
- Common bookkeeping mistakes that raise red flags
- How to clean up financials without an accounting background
- Why accrual accounting is often required for a sale
- When to start preparing for an exit
Plus, for $200 OFF our new course, The Exit Playbook, use discount code TGAPODCAST at checkout.
Resources:
- The Exit Playbook: Built Smart Now & Sell For More Later
- Lauren's firm, Colson Strategies
- Full transcript of this episode
- Our free newsletter
We’ve interviewed nearly 300 founders, and the same challenge keeps surfacing as the most demanding part of selling a business. Here’s what they wish they’d known sooner.
What you’ll learn:
- What buyers really look for once the LOI is signed
- Why this phase can unexpectedly impact revenue
- How founders can delegate and prepare before entering this stage
- Steps sellers take to make the process smoother and faster
Full transcript | Our newsletter
Two days before closing the sale of her business, a founder called me in a panic. She wasn’t sure if she should take the deal — or walk away.
Here's what I shared with her:
• How to compare a “low” multiple with unusually strong deal terms
• Why all-cash offers are rare — especially for agencies
• When running a full process can increase price
• Why overthinking can cause founders to miss great deals
• How life goals influence the “right” financial outcome
Full transcript | Our newsletter
Improving your business for an eventual sale doesn’t just affect your future valuation — it also makes your business easier to run right now.
In this episode, we share a story about a founder who set out to make her company more appealing to buyers — and ended up enjoying her business more than ever. By delegating key responsibilities, trimming unnecessary expenses, and increasing profit, she expected to improve her sale multiple. What she didn’t expect was how much better her day-to-day life would become.
What you'll learn:
• Why reducing founder dependency improves both valuation and quality of life
• How profit improvements can multiply your sale price
• Why growth is the only real exception to the Double-Win Rule
• The mindset shift that helps founders benefit from exit prep long before selling
Full transcript | Our newsletter
Most founders underestimate this single metric — and it can dramatically change your exit. Understand this now, and it can be a powerful lever when you go to sell.
What you’ll learn:
• The surprising variable buyers care about most
• Why two identical businesses can get wildly different offers
• The counterintuitive timing mistake founders often make
• How your growth curve influences your valuation
• The one exception to “improvements always benefit you now and later”
Transcript | Our newsletter
Host Lexi Grant reflects on a conversation with two co-founders who were well positioned for a sale.
Their business hit every mark that buyers look for — from profitability to growth — and Lexi shares exactly what made them stand out.
Whether you’re thinking about selling soon or just want to build a stronger business, these four factors can help you increase value and create more options for your exit.
What you'll learn:
- Why EBITDA matters more than revenue when you sell
- How to build recurring revenue — even if you run an agency
- What a “low founder dependency” business really looks like
- How growth trajectory influences your sale multiple
Transcript | Our newsletter
What happens when a buyer emails you out of the blue? Not all offers are what they seem.
Learn how to spot legit interest, protect your time, and maximize your leverage when inbound offers roll in.
What you’ll learn:
- The two types of buyer outreach—and how to tell them apart
- What to do (and not do) when you’re not ready to sell
- How to turn real inbound interest into an amazing deal
- Why running a “full process” can boost your sale price
- When to bring in an advisor—or just a lawyer
Full Transcript | Join our Newsletter
It’s a question we hear all the time: “Is my business sellable?”
In most cases, the answer is yes. But there are a few factors that can make selling your company harder than it should be or even impossible.
In this episode of They Got Acquired, Lexi shares the four biggest reasons a company might be unsellable, and how to correct them before you’re ready to exit.
What you'll learn:
- Why profit matters more than revenue when it comes to selling
- How founder dependency limits your ability to exit
- What happens when your niche doesn’t attract buyers
- Why expectations around sale price often derail deals
Full Transcript | Join our Newsletter
How do you know when it’s the right time to sell your business? The answer might surprise you.
Lexi Grant breaks down the three real factors that determine when to sell — and why waiting for perfect market timing could actually cost you.
What you'll learn:
- The surprising truth about market timing, and why it’s overrated
- How burnout can quietly destroy your sale value
- How your business’s performance shapes its valuation and buyer interest
- Lessons from founders who sold too late — and what they’d do differently
- Why there’s never a perfect time to sell
Full Transcript | Join our Newsletter
They Got Acquired is back! In this new season, host Lexi Grant shares insider insights every founder should know before selling a business.
After years of studying M&A and publishing nearly 300 acquisition stories, Lexi breaks down what really works — and what doesn’t — when it comes to selling your company.
What you'll learn this season:
- How to start preparing your business for a future sale
- Common mistakes founders make — and how to avoid them
- What to expect when you decide it’s time to sell
- And lots more
For more stories like this one, sign up for our newsletter.
⏱️ Time Stamps:
00:00 – Welcome back to They Got Acquired
00:30 – Why we paused after Season 1
01:28 – What’s new in Season 2
01:50 – What founders will learn this season
For the full transcript: https://theygotacquired.com/podcast/season-2-trailer/
We’re launching something new at They Got Acquired — and we’re back with a short bonus episode to tell you about it.
We usually focus on stories of other entrepreneurs and how they're building their businesses. But today, we explain what we're working on.
To see the reports we reference in this episode, visit: http://TheyGotAcquired.com/reports
For more stories like this, subscribe to our newsletter: https://TheyGotAcquired.com/newsletter
For the transcript, go to: https://theygotacquired.com/podcast/bonus-season-1/
From a young age, Donald Spann wanted to become an entrepreneur because he wanted two simple things: time freedom and financial stability. Thanks to an over seven-figure exit from Vicky Virtual Receptionists, he achieved this goal. But getting there was full of twists and turns. Listen to learn how a random Reddit thread, a cleaning business and a spinoff company led to this life-changing sale.
For more stories like this one, sign up for the newsletter: https://TheyGotAcquired.com/newsletter
To get the full transcript, go here: https://theygotacquired.com/podcast/donald-spann-vicky-virtual-receptionists/
Like so many founders, Lauren Gaggioli had been heads down in her Higher Scores Test Prep business for so long, she didn’t realize how valuable it was. She wanted to know: was this course business sellable? In this episode, you’ll learn how Lauren leveraged her podcast, consistent passive income, SEO traffic, list size, and course offerings to exit for $180,000.
For more stories like this one, sign up for newsletter: https://TheyGotAcquired.com/newsletter
For the transcript, go to: https://theygotacquired.com/podcast/lauren-gaggioli-higher-scores-test-prep
How far can seven hours a week take your business? For Anna Maste and Marianne Edwards, it led to a seven-figure deal that funded Marianne’s retirement. Learn how this mother-daughter duo bootstrapped a membership site for RVers called Boondockers Welcome — and along the way, redefined what entrepreneurship can look like.
For more stories like this one, sign up for newsletter: https://TheyGotAcquired.com/newsletter
To get free access to Dr. Sherry Walling's MicroConf talk, go to: https://microconf.com/endwell
For the full transcript to this episode, go to: https://theygotacquired.com/podcast/anna-mast-boondockers-welcome
Sam Parr catapulted to celebrity status within the startup world when he sold a daily newsletter called The Hustle for a reported 8 figures. But how did this down-to-earth guy with no previous media experience build such a valuable company? This episode breaks down that story. You’ll hear exactly how Sam Parr went from being a scrappy college kid with a hot dog stand to one of the leading voices in entrepreneurship.
Thanks to this episode’s sponsor, Chicago Partners, a team of financial advisors who specialize in wealth management: https://ChicagoPartnersLLC.com
For more stories like this one, sign up for our newsletter: https://TheyGotAcquired.com/newsletter
To get the full transcript of this episode, go to: https://theygotacquired.com/podcast/sam-parr-the-hustle
Is there a right time to sell your business? This was what Jon Hainstock and his co-founder, Ben Bartling, had to figure out when they were planning their exit from ZoomShift. Learn how they chose the right moment to agree to a 7-figure deal — and how they approached building one of the top small business scheduling softwares on the market.
For more stories like this one, sign up for newsletter: https://TheyGotAcquired.com/newsletter
For the full transcript of this episode, go to: https://theygotacquired.com/podcast/jon-hainstock-zoomshift/
Lexi Grant didn’t start her first or second business with the goal of selling them one day. She was just doing what she does best: bootstrapping content companies from the ground up. But thanks to an acquihire that thrust her career forward, and a six-figure exit from a side project called The Write Life, Lexi knows just how meaningful an acquisition can be. Learn about her journey through both businesses — and the moment she knew it was time to create They Got Acquired.
For more stories like this, sign up for our newsletter: https://TheyGotAcquired.com/newsletter
For the full transcript of this episode, go to: https://theygotacquired.com/podcast/lexi-grant-they-got-acquired/
The marketing software ReferralHero wouldn’t exist if Manuel Frigerio hadn’t built his previous startup — one that ultimately failed. But thanks to Manuel’s ability to listen to customers’ needs and pivot at the right moment, he built ReferralHero and sold it for 6 figures. Learn how Manuel used each business he built to springboard to his next big opportunity.
For more stories like this, sign up for our newsletter: https://TheyGotAcquired.com/newsletter
To read the transcript from this episode, go to the episode page: https://theygotacquired.com/podcast/manuel-frigerio-referralhero/
Laura Roeder didn’t use a broker, M&A advisor, or marketplace to sell the social media scheduling tool, MeetEdgar. She found her buyer the same way she’d found success throughout her career: with a gutsy cold pitch. Learn how she and her husband, Chris Williams, built and sold the platform for seven figures — and how they did it without sacrificing all their time to the business.
For more stories like this, sign up for our newsletter: https://TheyGotAcquired.com/newsletter
Take a sneak peek at our They Got Acquired podcast with this Season 1 trailer. Host Lexi Grant takes you behind the scenes of companies that sell for 6, 7 or low-8 figures — the kinds of exits that don’t usually get splashy headlines but can be life-changing for founders.
For more stories like this one, sign up for newsletter: https://TheyGotAcquired.com/newsletter