Ep 358 Why Candy Banners Sold for a Mint – Tim Grassin

In 2014 Tim Grassin founded Candy Banners, which designs ads that show up along the top, bottom, and sides of a website.   Grassin built a remote team in the Philippines to minimize his costs. Hiring inexpensive developers allowed Grassin to charge lower rates to agency owners, resulting in rapid growth.  The business had grown to over seven figures in revenue in 2020 when Grassin received an acquisition offer from one of his clients, Native Touch. The offer valued Candy Banners at around five times EBITDA, and the deal closed in 2021.