How this Service Business Sold for 3X Revenue
“Timo Armoo started a company called Fanbytes, an influencer marketing agency that connected brands with social media influencers,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “He shares his experience selling his business and talking about the best time to raise money for your business, using an advisor and the technique he used to increase his multiple.”
Ten years ago, Timo Armoo was on a flight from his home country of Ghana on his way to live in a council flat in one of the U.K.’s poorest neighborhoods.
Motivated to live a better life, Armoo started Fanbytes, an influencer marketing agency dedicated to connecting brands with social media influencers.
The company took off.
Fanbytes reached 65 employees and hit revenues of 8-figures when he decided to sell the company to Brainlabs for around 3X revenue. In today’s episode you’ll learn how to:
- Utilize influencers to market your product or service.
- Identify the right time to raise money for your business.
- Use one surprising technique to command a higher multiple for your company.
- Increase your leverage using a trusted advisor.
- Attract more inbound leads for your business.