How a Small Ad Agency Signed a Nine-Figure Earnout

Lucas and Luna dive into the story of a tiny three-person ad agency in Portland that sold to a global holding company for $120 million — but almost all of it was tied to an earnout that the founders had to survive for four years. They break down the earnout mechanics that actually worked, the specific revenue triggers that were tied to client retention, and why the founders chose to walk away from a lower all-cash offer. Along the way they discuss how earnout structures can align incentives between buyer and seller, the risk of earnout failure, and what small business owners should look for when a buyer insists on a performance-based payout. This episode also includes a brief moment of reflection on why listener-supported shows like this one stay free. #Earnout #BusinessSale #MergersAndAcquisitions #SmallBusinessExit #AdAgency #PrivateSale #BusinessBrokers #SellerTips #EarnoutStructure #BuyerSeller #BusinessPodcast #FexingoBusiness #ExitPlanning #Valuation #DealStructure #PortlandBusiness #BusinessM&A #ConversationalPodcast Keep every episode free: buymeacoffee.com/fexingo