#133: Bootstrapper Sells School Fundraising Platform to PE Investors - Howard Gottlieb

#133: Bootstrapper Sells School Fundraising Platform to PE Investors - Howard Gottlieb

Author: Greg Head February 28, 2025 Duration: 58:47

Howard Gottlieb started Read-A-Thon in 2012 as a reading-based fundraising platform that helped students raise money while boosting education. Their easy platform and simple fundraising approach created amazing results. The Read-a-Thon business grew steadily and profitably without any outside funding.

Read-A-Thon helped over 4000 schools and students raise over $30 million in donations. Their platform has tracked over 30 billion reading minutes by students who have used it to earn donations.  

Read-A-Thon was successfully acquired by private equity investors in early 2023 for an undisclosed amount. The business has continued to grow and expand with a new CEO and key executives, with Howard on the board as an advisor and now a minority investor in the company. 

Quote from Howard Gottlieb, founder of Read-A-Thon

"I have been very blessed and very lucky in my journey with the success of Read-A-Thon. Everyone should realize that and have some humility.

"If you succeed at the game, you can be the smartest guy or the smartest woman with the most brilliant idea, but it still will take 50% or more luck for everything to align correctly to succeed. Just realize that. It takes a lot of good fortune.

"At Read-A-Thon, our lucky moment was COVID because online fundraising was only in its infancy. When COVID hit and schools were out, Read-A-Thon was almost the only viable option. Our growth went from 40% a year to 100%, then 150% a year. So that was luck after all these years."

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Greg Head hosts the Practical Founders Podcast, a series dedicated to the often-overlooked builders in the technology and business landscape. Each week, the conversation focuses squarely on founders who have successfully scaled their software companies through means other than massive venture capital. You'll hear detailed, candid stories about bootstrapping, profitable growth, and the strategic choices that define a sustainable enterprise. These interviews dig into the real work of building a valuable company-the early decisions, the pivotal mistakes, the practical systems, and the personal resilience required. It’s for entrepreneurs and operators who are more interested in durable ownership and practical execution than in hype or fundraising rounds. By focusing on firsthand experiences, this podcast provides a grounded perspective on entrepreneurship. Listeners gain actionable insights and honest reflections from leaders who have navigated the complexities of building a business on their own terms. The discussions are in-depth and specific, offering a valuable resource for anyone looking to understand the tangible realities of creating a technology company without relying on external funding. This is where the conversation moves beyond theory into the applied lessons of proven founders.
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