Steve Huey bought The Learning House, a company that creates online courses on behalf of colleges, for $2.7MM in 2007 because he saw the opportunity to professionalize the sales and account management of the business. Five years later, Huey sold the business to Weld North, a private equity company for $27.5 MM earning his shareholders an 8 to 1 return.
In this episode, you'll hear Huey's advice on:
- how to raise a $4MM angel round in 7 days
- an inexpensive way to figure out what your business is worth
- buying a business with little of your own money down
- Handling a buyer who drops their offer after signing an LOI
- Differentiating between an earning out an escrow