Small Company, Big Valuation

In 2015, Michia Rohrssen co-founded a SaaS business called Prodigy to help car dealerships sell online. He grew the company to $3.3M in annual revenue when he faced a difficult decision.

Rohrssen thought he could sell Prodigy for around 4–6 times revenue, but after paying off his investors, there wouldn’t be much left over for the founders. That’s when he decided to make a risky pivot to his business model. The change meant a short-term drop in Prodigy’s revenue, while also making it more attractive to strategic acquirers. Ultimately Rohrssen and his co-founder sold the smaller version of his company for a staggering $110 million, or around 65 times revenue.

In his first interview since announcing the incredible deal, Rohrssen shares how to:

• Maximize your company’s attractiveness to a strategic acquirer
• Avoid the $4 million mistake Rohrssen made
• Apply an intriguing filter to compile a shortlist of strategic acquirers
• Attract an acquisition offer higher than your industry’s standard valuation multiple
• Implement a “Manhattan Project” inside your company
• Streamline the due diligence process with a specific meeting strategy

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