Ep 542 The 15X Multiple That Let Him Walk Away in 12 Months

Ep 542 The 15X Multiple That Let Him Walk Away in 12 Months

Author: John Warrillow April 17, 2026 Duration: 1:08:04

At some point every founder needs to ask a simple question: is it better to own a big slice of a small pie, or a smaller slice of a bigger pie? 

In this week's episode, we hear from someone who chose a smaller slice of a bigger pie. Simon Lorenz co-founded Klara, a patient communication platform for medical practices, and raised roughly $32 million across six rounds of outside capital before selling to ModMed at 15 times forward revenue. 

The path there was not a clean one. Every funding round was painful. Most of them came down to a single term sheet, take it or leave it, because an early valuation had set an equity story Simon spent years chasing. He hired salespeople he later had to fire. He took on an apparatus he could not easily shut off. And when ModMed's CEO first reached out, Simon almost ignored the email because the company had finally started humming and he was preparing another round. 

What turned a distraction into a deal was Simon's willingness to act genuinely uninterested, which pulled ModMed up to a price that made his eyeballs pop out. What let him walk away twelve months after closing was a single clause his lawyer negotiated into the contract. 

 

Subscribe to our weekly newsletter: https://builttosell.com/subscribe/

Curious what your business is worth? Find out now


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 447 The Psychology of Entrepreneurship with Bill Hudenko [not-audio_url] [/not-audio_url]

Duration: 37:11
Have you considered the psychological toll of building your business? In this week's Built to Sell Radio episode, John Warrillow sits down with Bill Hudenko, a psychologist, Dartmouth professor, and serial entrepreneur,…
Ep 446 Exiting a Family Business on Top with Tom Deans [not-audio_url] [/not-audio_url]

Duration: 50:27
In this week's episode of Built to Sell Radio, we are joined by Tom Deans, a renowned expert on family business transitions and the author of the trilogy, Every Family's Business, Willing Wisdom, and The Happy Inheritor.…
Ep 445 How Connor Tomkies Led Support Ninja to an 8-Figure Exit [not-audio_url] [/not-audio_url]

Duration: 34:19
This week on Built to Sell Radio, we feature Connor Tomkies, founder of Support Ninja, who shares his story of transforming an outsourcing firm into an industry leader. Support Ninja provides outsourced customer support…
Ep 443 Anne Mahlum on selling [solidcore] for $100M [not-audio_url] [/not-audio_url]

Duration: 1:10:08
Today's episode of Built to Sell Radio features Anne Mahlum, a fearless entrepreneur who redefined the fitness industry. After wandering into a Pilates studio in L.A. and thinking, "I can do this better," Anne threw all…
Ep 442 Matt Dixon on Teaching Your Employees to Sell [not-audio_url] [/not-audio_url]

Duration: 55:25
This episode of Built to Sell Radio features Matt Dixon, author of the global bestseller, The Challenger Sale. Dixon became the de facto leader of the sales training world when Neil Rackham, author of "SPIN Selling," pra…

«1...678910