Ep 512 Exit Story: Selling iLab for 6× ARR, Choosing Strategic Over PE, and Life After an Eight-Figure Exit

Ep 512 Exit Story: Selling iLab for 6× ARR, Choosing Strategic Over PE, and Life After an Eight-Figure Exit

Author: John Warrillow September 19, 2025 Duration: 57:06

In 2006, Tad Fallows and two friends spotted a problem inside Harvard's cancer labs: researchers were spending more time managing freezers, fruit flies, and mice than actually doing research. They built iLab, a SaaS tool for universities and hospitals, bootstrapped it to high–7-figure ARR, and eventually sold to Agilent Technologies for roughly six times revenue. 

But the journey wasn't smooth. Cash was often razor-thin with 75 employees on payroll, and an early inbound offer at 3× ARR forced Tad and his partners to decide: take the deal, or gamble on building more value. 


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 502 The Body Language of a Deal with Christopher Hadnagy [not-audio_url] [/not-audio_url]

Duration: 48:55
Negotiating the sale of your company may be the highest-stakes conversation of your life. In this episode of Built to Sell Radio, part of our Mastering the Deal series, you'll learn how to stay composed when everything y…
Ep 499 After the Deal: The Hidden Cost of Generational Wealth [not-audio_url] [/not-audio_url]

Duration: 49:54
You've built a valuable company. Maybe you're even thinking about selling. But what happens after the wire hits? In this episode of Built to Sell Radio, Alex Bean, co-founder of Divvy, shares what it felt like to sell hi…
Ep 493 Exit Story: Selling a 20-Person Agency for 5.5x EBITDA [not-audio_url] [/not-audio_url]

Duration: 44:34
Most stories we cover involve eye-popping multiples or headline-making exits. They're fun—but not always realistic. Jeff DeGarmo's story is different. No private equity windfall. No tech hockey stick. Just a well-run, 20…