Ep 508 Exit Story: The Surprising Math Behind a $100 Million Exit

Ep 508 Exit Story: The Surprising Math Behind a $100 Million Exit

Author: John Warrillow August 22, 2025 Duration: 49:48

Dan Berger built Social Tables into a SaaS success story with $20M in recurring revenue and more than 6,000 customers. He sold the business for $100 million. 

But after raising $27M in venture funding and navigating liquidation preferences, his personal payout was just under $20M. 

In this week's episode of Built to Sell Radio, Dan reveals the surprising math behind his deal and shares the emotional highs and lows of walking away from his company. 


For any entrepreneur, the idea of selling the company they've built is both a daunting prospect and a potential pinnacle of success. Built to Sell Radio, hosted by John Warrillow, steps into that complex space with a clear, practical focus. This isn't about abstract theory; it's a weekly conversation grounded in real experience. Every episode features a different founder who has recently navigated the sale of their business. The discussion goes straight to the heart of the matter: understanding the personal and strategic reasons behind the decision to sell. Listeners get an honest breakdown of what worked, from preparation and valuation to negotiation, and perhaps more importantly, the unforeseen pitfalls and mistakes made along the way. It’s that candid post-mortem, the lessons learned in the trenches of a transaction, that provides unparalleled value. By compiling these firsthand accounts, the podcast builds a comprehensive library of exit strategies and cautionary tales. Tuning in feels like gaining access to a private mastermind, where seasoned entrepreneurs share the unvarnished truth about cashing in their life's work. If you're contemplating your own eventual exit, this series offers the nuanced, peer-to-peer insights you need to think like a buyer, protect your interests, and ultimately, build a business that is truly desirable. Built to Sell Radio serves as an essential guide, transforming the opaque process of selling a business into a clearer, more manageable journey.
Author: Language: English Episodes: 100

Built to Sell Radio
Podcast Episodes
Ep 528  The Dirty Businesses that Create Quiet Millionaires [not-audio_url] [/not-audio_url]

Duration: 1:02:40
Some of the richest founders don't run trendy companies. They run dirty ones. The kind of work you'd never brag about at a dinner party, but that quietly throws off real money because it's hard, risky, and most people wo…
Ep 527 How to Avoid an Earn-Out (Even in a Service Business) [not-audio_url] [/not-audio_url]

Duration: 1:34:18
Most business owners hit a fork in the road. Stay "on the tools" and keep making great money. Or start feathering back your personal involvement so the business can grow beyond you. In this episode of Built to Sell Radio…
Ep 526 Best of 2025: 4 Moments That Change How You Exit [not-audio_url] [/not-audio_url]

Duration: 36:48
Built to Sell Radio just dropped a year-end special that pulls the strongest moments from 2025 into one episode. Across four formats (Exit Story, Inside the Mind of an Acquirer, Mastering the Deal, and After the Deal), y…
Ep 523 15 x EBITDA for a Service Firm [not-audio_url] [/not-audio_url]

Duration: 59:37
In this episode of Built to Sell Radio, John Warrillow sits down with Ujwal Arkalgud, who built the same company twice. Chapter one was a classic problem: a profitable, founder-heavy services firm with impressive EBITDA…