Freemium SaaS businesses often defy traditional valuation frameworks. With large user bases, low initial monetization, and long conversion cycles, they can appear deceptively underperforming—or wildly promising—depending on the lens through which they’re viewed. For acquirers, the challenge lies in separating signal from noise: is the freemium model a growth engine or a margin drag?
This article explores how strategic and financial buyers evaluate freemium SaaS companies, the metrics that matter most, and how founders can position their businesses for maximum valuation in an M&A process.
Understanding the Freemium Model in SaaS
At its core, the freemium model offers a basic version of a product for free, with the goal of converting a portion of users to paid plans over time. It’s a customer acquisition strategy, not a pricing strategy. The model is particularly common in horizontal SaaS (e.g., productivity tools, collaboration platforms) and developer-focused products (e.g., APIs, infrastructure tools).
While freemium can drive viral growth and reduce customer acquisition cost (CAC), it also introduces complexity in monetization, support costs, and user segmentation. For acquirers, this means a deeper dive into unit economics and conversion dynamics is essential.
Key Valuation Considerations for Acquirers
1. Conversion Rate and Monetization Efficiency
The most immediate question acquirers ask is: How effectively does the company convert free users into paying customers? A freemium model with a 2% conversion rate may be viable if the lifetime value (LTV) of paid users is high and CAC is low. But if monetization is weak or the free tier cannibalizes paid plans, the model becomes a liability.
Buyers will scrutinize:
Free-to-paid conversion rate (monthly and cohort-based)
Time-to-conversion (how long it takes users to upgrade)
ARPU (average revenue per user) across free and paid cohorts
Churn rates post-conversion
Firms like iMerge often help sellers prepare detailed cohort analyses and LTV:CAC models to demonstrate monetization efficiency and scalability.
2. User Base Quality and Engagement
Not all free users are created equal. Acquirers will assess the depth of engagement within the free user base to determine future monetization potential. Metrics such as daily active users (DAU), feature usage, and product-qualified leads (PQLs) are critical.
In some cases, a large, highly engaged free user base can be a strategic asset—especially for acquirers looking to cross-sell or expand market share. In others, it may be viewed as a cost center if engagement is shallow or support-intensive.
3. Gross Margin and Infrastructure Costs
Freemium models often carry higher infrastructure and support costs due to the volume of non-paying users. Acquirers will examine gross margin trends and the scalability of the cost structure. A freemium business with 60% gross margins may be less attractive than a smaller, fully paid SaaS business with 85% margins—unless there’s a clear path to margin expansion.
Founders should be prepared to explain how infrastructure costs scale with user growth and what levers exist to improve margins post-acquisition.
4. Strategic Fit and Ecosystem Value
Strategic acquirers—especially large SaaS platforms—may value freemium companies not just for their revenue, but for their ecosystem position. A freemium tool with millions of users in a target vertical (e.g., design, education, or developer tools) can serve as a distribution channel, data source, or brand enhancer.
In these cases, valuation may be driven more by strategic synergy than by standalone financials. This is where positioning becomes critical. As we noted in What is the Role of a Buy-Side Advisor in Acquiring a Tech Company, strategic buyers often pay premiums for assets that accelerate their roadmap or defend market share.
5. Revenue Composition and Predictability
Even in freemium models, recurring revenue remains the gold standard. Acquirers will look at the mix of monthly vs. annual contracts, upsell potential, and expansion revenue. A freemium business with strong net revenue retention (NRR) and low churn among paid users can command healthy multiples.
Conversely, if revenue is lumpy, heavily reliant on one-time upgrades, or lacks pricing power, valuation will be discounted accordingly.
Valuation Multiples: How Freemium Impacts the Range
Freemium SaaS companies often trade at a discount to traditional SaaS peers on a revenue multiple basis—unless they demonstrate strong conversion economics and strategic value. According to SaaS Valuation Multiples: A Guide for Investors and Entrepreneurs, high-performing SaaS companies can command 8–12x ARR, while freemium models may fall in the 4–8x range unless they show breakout metrics.
However, exceptions exist. Consider a hypothetical example:
A developer-focused SaaS tool with 3 million free users, 3% conversion, and $15M ARR is acquired by a cloud infrastructure provider. Despite modest revenue, the acquirer pays 10x ARR due to the strategic value of the user base and product integration potential.
In such cases, the freemium model becomes a strategic wedge—an entry point into a broader market or user segment.
Preparing for Exit: How Founders Can Maximize Value
For founders of freemium SaaS companies considering an exit, preparation is key. Here are a few actionable steps:
Segment your user base: Show clear distinctions between free, trial, and paid users. Highlight engagement and conversion trends.
Build a conversion narrative: Demonstrate how product improvements, pricing changes, or sales enablement have improved monetization over time.
Model future monetization: Use cohort analysis to project LTV and justify investment in the free tier.
Highlight strategic optionality: Position your product as a platform or ecosystem play, not just a standalone tool.
Engage an experienced advisor: Firms like iMerge specialize in helping SaaS founders articulate value in complex models like freemium, where traditional metrics may fall short.
Conclusion
Freemium SaaS models require a nuanced valuation approach. While they may not always shine on traditional financial metrics, they can offer outsized strategic value when positioned correctly. Acquirers look beyond ARR to assess user engagement, conversion dynamics, and ecosystem potential.
Founders navigating valuation or deal structuring decisions can benefit from iMerge’s experience in software and tech exits — reach out for guidance tailored to your situation.
How Do I Benchmark My SaaS Metrics Against Other Exits?
For SaaS founders contemplating an exit, one of the most pressing questions is: How do my metrics compare to other companies that have successfully sold? Whether you’re preparing for a strategic acquisition, private equity recapitalization, or IPO, benchmarking your SaaS metrics against recent exits is essential for understanding valuation potential, identifying red flags, and positioning your company effectively in the M&A market.
This article outlines a practical framework for benchmarking your SaaS metrics against comparable exits, drawing on industry data, valuation trends, and insights from M&A advisors like iMerge who specialize in software and technology transactions.
Why Benchmarking Matters in SaaS M&A
Buyers—whether strategic acquirers or financial sponsors—evaluate SaaS companies through a rigorous lens of performance metrics. These metrics not only influence valuation multiples but also shape deal structure, earn-out terms, and buyer interest. Benchmarking helps you:
Understand how your KPIs stack up against market expectations
Identify areas to improve before going to market
Set realistic valuation expectations
Craft a compelling narrative for buyers and investors
Without benchmarking, founders risk mispricing their business or entering negotiations with blind spots that can erode deal value.
Key SaaS Metrics to Benchmark
While every SaaS business is unique, certain metrics consistently drive valuation and buyer interest. These include:
ARR (Annual Recurring Revenue)
Revenue Growth Rate
Gross Margin
Net Revenue Retention (NRR)
Customer Acquisition Cost (CAC) and CAC Payback Period
Churn Rate
Rule of 40 (Growth Rate + EBITDA Margin)
Burn Multiple (Net Burn / Net New ARR)
Each of these metrics tells a story about your company’s scalability, efficiency, and long-term value. For example, a company with 90%+ gross margins and 120%+ NRR will command a premium multiple, even if growth is moderate.
Sources for Benchmarking Data
To benchmark effectively, you need access to reliable, recent data. Here are several sources to consider:
1. Public SaaS Company Data
Publicly traded SaaS companies provide a wealth of financial and operational data through SEC filings and investor presentations. While these companies are typically larger, they offer useful benchmarks for best-in-class performance. Resources like SaaS Capital and Meritech Capital regularly publish benchmark reports based on public SaaS data.
2. Private Market Reports
Firms like PitchBook, Mergermarket, and S&P Capital IQ track private SaaS M&A transactions, including valuation multiples and select metrics. While access often requires a subscription, M&A advisors like iMerge can provide curated insights from these databases during exit planning engagements.
3. Industry Surveys and Benchmarks
Annual surveys such as the KeyBanc Capital Markets SaaS Survey and OpenView’s SaaS Benchmarks offer anonymized data from hundreds of private SaaS companies. These are particularly useful for benchmarking against similarly sized peers.
4. Comparable Exit Case Studies
Analyzing recent exits of companies similar in size, vertical, and business model is one of the most effective ways to benchmark. For example, if your company is a vertical SaaS platform serving healthcare providers with $10M ARR and 30% YoY growth, look for exits in the same niche with similar scale and growth dynamics.
Firms like iMerge often maintain proprietary databases of such transactions, including anonymized deal terms and metrics, which can be invaluable during the pre-market phase.
How to Interpret the Benchmarks
Benchmarking is not about hitting every metric perfectly—it’s about understanding where you stand and how that positioning affects valuation. Here’s how to interpret your results:
Above Benchmark: Use this to justify premium valuation multiples or favorable deal terms.
At Benchmark: You’re in line with market expectations—focus on packaging your story and reducing risk.
Below Benchmark: Consider whether to delay your exit to improve metrics, or adjust valuation expectations accordingly.
For example, if your CAC payback period is 24 months while the benchmark is 12–18 months, buyers may view your go-to-market efficiency as a concern. However, if your NRR is 130%—well above the 110% benchmark—you may still command a strong multiple.
Case Example: Benchmarking in Action
Consider a mid-market SaaS company with $8M ARR, 35% YoY growth, 85% gross margins, and 105% NRR. The founder is considering a sale and wants to understand valuation potential.
After benchmarking against recent exits in the $5M–$15M ARR range, the company finds that:
Median growth is 30%—they’re slightly above
Median NRR is 110%—they’re slightly below
Median EV/ARR multiple is 5.5x
Given their strong growth and margins but slightly weaker NRR, the company may expect a 5.0x–5.5x ARR multiple. With guidance from an M&A advisor, they can position the business to highlight strengths and mitigate concerns—perhaps by showcasing customer expansion initiatives or cohort retention data.
This type of analysis is often part of a broader exit business planning strategy that iMerge helps founders develop well before going to market.
Common Benchmarking Pitfalls to Avoid
Over-relying on public comps: Public SaaS companies often have scale, brand, and capital advantages that skew metrics upward.
Ignoring business model differences: Usage-based pricing, freemium models, and vertical SaaS all have different benchmarks.
Focusing only on ARR: Buyers care about quality of revenue, not just quantity. Churn, margin, and retention matter.
Benchmarking too late: Waiting until you’re in-market to benchmark limits your ability to improve metrics pre-sale.
How iMerge Helps Founders Benchmark and Prepare
At iMerge, we work with SaaS founders to benchmark their metrics against relevant exit comps, identify valuation drivers, and prepare for a successful transaction. This includes:
Custom benchmarking reports based on private and public data
Valuation modeling using real-world M&A comps
Strategic positioning to highlight strengths and mitigate weaknesses
Pre-market preparation to optimize metrics before going to buyers
Benchmarking your SaaS metrics against other exits is not just a valuation exercise—it’s a strategic imperative. It informs how you position your company, when you go to market, and what kind of buyers you attract. With the right data and guidance, you can turn benchmarking into a competitive advantage.
Founders navigating valuation or deal structuring decisions can benefit from iMerge’s experience in software and tech exits — reach out for guidance tailored to your situation.
How to Calculate ARR vs. MRR Valuation Impacts in Software M&A
In the world of software M&A, few metrics are as foundational — or as misunderstood — as ARR (Annual Recurring Revenue) and MRR (Monthly Recurring Revenue). While both are essential indicators of a company’s revenue health, they can have very different implications when it comes to valuation, especially in the context of a transaction.
For founders, CFOs, and investors preparing for a capital raise or exit, understanding how ARR and MRR influence valuation multiples is not just a matter of accounting — it’s a strategic imperative. This article breaks down the differences, explores how each metric is used in valuation modeling, and offers guidance on how to position your business for maximum value.
ARR vs. MRR: Definitions and Use Cases
Let’s begin with a quick refresher:
MRR (Monthly Recurring Revenue) is the normalized monthly revenue from all active subscriptions. It’s typically used for short-term forecasting and operational metrics.
ARR (Annual Recurring Revenue) is simply MRR multiplied by 12. It represents the annualized value of recurring revenue and is often used in strategic planning, investor reporting, and valuation discussions.
While the math is straightforward, the implications are not. In M&A, ARR is often the headline number — but MRR can reveal the underlying health and momentum of the business.
Valuation Multiples: ARR vs. MRR
In most SaaS and subscription-based software transactions, valuation is expressed as a multiple of ARR. However, there are exceptions — particularly in earlier-stage deals or when revenue is volatile. Here’s how the two metrics typically impact valuation:
1. ARR is the Benchmark for Enterprise-Scale Valuations
For companies with $5M+ in ARR, buyers and investors almost universally use ARR as the basis for valuation. Multiples can range from 4x to 12x ARR depending on growth, retention, gross margin, and market positioning. For example, a SaaS company with $10M ARR growing 40% YoY and 90%+ net revenue retention might command a 7–9x ARR multiple in today’s market.
Why ARR? It provides a clean, annualized view of recurring revenue, smoothing out monthly fluctuations and aligning with how acquirers model long-term cash flows.
2. MRR is More Common in Early-Stage or SMB Transactions
For smaller businesses — say, sub-$2M in ARR — MRR is often used as the valuation anchor. This is especially true in deals involving bootstrapped SaaS companies or micro-SaaS platforms. In these cases, buyers may apply a multiple to MRR (e.g., 3x–5x MRR), which effectively translates to a 3x–5x ARR multiple, assuming stable revenue.
However, if MRR is growing rapidly or has seasonal volatility, buyers may discount the implied ARR to reflect risk. This is where key SaaS KPIs like churn, expansion revenue, and CAC payback period become critical in justifying a higher multiple.
How to Model the Valuation Impact
To understand how ARR vs. MRR affects valuation, consider this simplified example:
Company A:
- MRR: $250,000
- ARR: $3,000,000
- Growth Rate: 30% YoY
- Net Revenue Retention: 95%
- Gross Margin: 85%
Scenario 1: Valuation based on ARR
→ 6x ARR = $18M enterprise value
Scenario 2: Valuation based on MRR
→ 5x MRR = $15M enterprise value
In this case, the difference in valuation methodology results in a $3M delta — a 20% swing. This is not uncommon, especially when buyers are conservative or when the company’s MRR has recently spiked and hasn’t yet stabilized into a reliable ARR run rate.
Strategic Considerations for Founders
At iMerge, we often advise software founders to think beyond the math and consider the strategic narrative behind their revenue metrics. Here are a few key takeaways:
Stabilize MRR before going to market. If your MRR is volatile or recently spiked, buyers may discount your ARR. A few months of consistent MRR can justify a higher ARR-based multiple.
Use ARR for positioning, MRR for defense. In your Confidential Information Memorandum (CIM), lead with ARR to frame the opportunity. But be ready to defend it with MRR trends, cohort analysis, and retention data.
Align your metric with your buyer type. Strategic acquirers and growth equity firms typically prefer ARR. Micro-PEs or individual buyers may lean on MRR, especially in sub-$5M deals.
In some cases, ARR and MRR may not align neatly. For example:
Annual prepayments: If a company collects most of its revenue upfront, MRR may appear low relative to ARR. Buyers will normalize this in their models.
Seasonal businesses: Companies with seasonal spikes (e.g., tax software) may show inflated ARR if calculated during peak months. A trailing 12-month MRR average may be more accurate.
High churn or contraction: If MRR is declining, ARR may overstate the company’s forward-looking revenue. Buyers will likely apply a lower multiple or adjust ARR downward.
ARR and MRR are two sides of the same coin — but in M&A, the side you show can significantly impact your valuation. Understanding when and how each metric is used allows you to better position your company, anticipate buyer questions, and ultimately command a stronger multiple.
Firms like iMerge specialize in helping software founders navigate these nuances, from financial modeling to buyer negotiations. Whether you’re preparing for a strategic exit or exploring growth capital, aligning your revenue metrics with market expectations is a critical step in maximizing value.
Use this insight in your next board discussion or strategic planning session. When you’re ready, iMerge is available for private, advisor-level conversations.
In the final stretch before a company sale, few things can derail momentum faster than a messy capitalization table. Whether you’re a SaaS founder preparing for a strategic exit or a CEO fielding interest from private equity, a clean, accurate, and defensible cap table is not just a formality — it’s a prerequisite for closing a deal on favorable terms.
This article outlines the most common cap table issues that arise during M&A due diligence, how to resolve them proactively, and why early cleanup can materially impact valuation, deal structure, and buyer confidence.
Why Cap Table Clarity Matters in M&A
Buyers — especially institutional acquirers — scrutinize the cap table to understand ownership, dilution, and potential post-close obligations. Any ambiguity can raise red flags, delay diligence, or even lead to price adjustments. In our experience at iMerge Advisors, cap table discrepancies are among the top five diligence issues that surface late in the process, often requiring legal remediation or last-minute renegotiation.
Consider a hypothetical: A growth-stage SaaS company receives a $40M acquisition offer. During diligence, the buyer discovers that a former advisor was promised 1% equity via an unsigned SAFE note. The ambiguity triggers legal review, escrow holdbacks, and a 3-week delay — all of which could have been avoided with earlier cleanup.
Common Cap Table Issues That Undermine Deals
Unrecorded or poorly documented equity grants — Founders often issue options or SAFEs informally, without board approval or proper documentation.
Inconsistent share counts — Discrepancies between the cap table, stock ledger, and legal documents (e.g., option agreements, SAFEs, convertible notes).
Unvested or accelerated equity — Lack of clarity around vesting schedules, acceleration clauses, or repurchase rights can confuse buyers and complicate waterfall modeling.
Outdated or missing 409A valuations — This can raise tax concerns and affect the validity of option pricing.
Overhang from expired or terminated employees — Options that should have been canceled but remain on the books inflate the fully diluted share count.
Steps to Clean Up Your Cap Table Before a Sale
1. Conduct a Cap Table Audit
Start by reconciling your cap table against legal documents, board consents, and your stock ledger. This includes:
All equity grants (common, preferred, options, warrants)
Convertible instruments (SAFEs, notes) and their conversion terms
Vesting schedules and acceleration clauses
Option pool allocations and remaining availability
Use this audit to identify inconsistencies, missing signatures, or undocumented promises. If you’ve raised multiple rounds, ensure each financing’s terms are reflected accurately — including liquidation preferences and participation rights.
2. Engage Legal Counsel Early
Cap table cleanup is not just a spreadsheet exercise — it’s a legal one. Work with experienced counsel to resolve ambiguities, draft missing agreements, and ensure compliance with securities laws. This is especially critical if you’ve issued equity to international employees or advisors, where local regulations may apply.
Firms like iMerge often coordinate with legal teams during pre-LOI preparation to ensure that cap table issues don’t surface during buyer diligence. As we noted in Completing Due Diligence Before the LOI, addressing these issues early can preserve deal momentum and valuation leverage.
3. Cancel or Reclaim Expired Equity
Review your option ledger for grants to former employees or advisors. If options have expired or are subject to repurchase rights, ensure they are formally canceled and removed from the fully diluted count. This reduces overhang and simplifies the ownership structure for buyers.
4. Update Your 409A Valuation
If your last 409A valuation is more than 12 months old — or if there’s been a material change in business performance — update it. A current 409A supports defensible option pricing and reduces IRS audit risk. It also helps buyers model post-close equity plans with confidence.
5. Consolidate and Digitize Records
Use a cap table management platform (e.g., Carta, Pulley, Shareworks) to centralize equity records. Buyers increasingly expect digital cap tables with audit trails, vesting schedules, and document links. A clean, investor-grade cap table signals operational maturity and reduces diligence friction.
6. Prepare a Waterfall Analysis
Work with your M&A advisor to model how proceeds will be distributed across the cap table under different exit scenarios. This includes accounting for:
Preferred stock preferences and participation rights
Option exercise assumptions
Earn-outs or escrow holdbacks
As we explored in Asset versus Stock Sale, deal structure can significantly impact post-close distributions. A clear waterfall model helps align stakeholders and avoid surprises during negotiations.
Strategic Benefits of a Clean Cap Table
Beyond avoiding red flags, a clean cap table can materially improve your deal outcome:
Faster diligence — Reduces buyer review time and legal back-and-forth
Higher valuation confidence — Buyers are more likely to honor full purchase price when ownership is clear
Smoother negotiations — Minimizes disputes over equity splits, vesting, or option treatment
In one recent iMerge transaction involving a $25M SaaS exit, the seller’s proactive cap table cleanup enabled the buyer to complete diligence in under 30 days — a key factor in securing a premium multiple and avoiding escrow holdbacks.
Conclusion
Cleaning up your cap table isn’t just about avoiding problems — it’s about maximizing value. In a competitive M&A environment, clarity, accuracy, and transparency are strategic assets. Founders who invest in cap table hygiene early are better positioned to negotiate from strength, close faster, and walk away with more.
Use this insight in your next board discussion or strategic planning session. When you’re ready, iMerge is available for private, advisor-level conversations.
How to Evaluate Unsolicited Acquisition Offers: A Strategic Guide for Software Founders
It often starts with a short email or a call from a corporate development executive or private equity partner: “We’re interested in acquiring your company. Would you be open to a conversation?”
For many software founders, this moment is both flattering and disorienting. You weren’t actively looking to sell, but now the idea is on the table. The question becomes: How do you evaluate an unsolicited acquisition offer—objectively, strategically, and in the best interest of your shareholders?
This article outlines a structured approach to assessing inbound acquisition interest, with a focus on software and technology businesses. Whether you’re running a bootstrapped SaaS company or a venture-backed platform, the stakes are high—and the right response can significantly impact your company’s future and your personal outcome.
1. Pause Before You Respond
First, resist the urge to react immediately. An unsolicited offer is not a binding commitment—it’s an opening move. While it may feel urgent, especially if the buyer hints at exclusivity or a limited window, you are under no obligation to engage on their timeline.
Take time to gather your thoughts, consult with trusted advisors, and assess your strategic position. A thoughtful pause signals professionalism and gives you space to evaluate the offer on your terms.
2. Understand the Buyer’s Intent
Not all buyers are created equal. Some are strategic acquirers seeking synergies, others are financial sponsors looking for platform investments or roll-ups. Understanding the buyer’s motivation helps you assess:
Valuation rationale – Are they paying for growth, technology, market share, or EBITDA?
Post-acquisition plans – Will your team be retained? Will your brand survive?
Deal certainty – Is this a serious buyer with a track record of closed deals?
Firms like iMerge often help founders vet buyer profiles and assess credibility, especially when the buyer is a private equity firm or a competitor.
3. Benchmark the Offer Against Market Valuations
One of the most common mistakes founders make is evaluating an offer in a vacuum. Without a clear understanding of current market multiples, it’s difficult to know whether the offer is fair—or opportunistic.
For example, if your SaaS company is growing 30% annually with 80% gross margins and strong net revenue retention, you may command a 6–10x ARR multiple in today’s market. If the unsolicited offer is based on a 3x multiple, it may be significantly undervaluing your business.
Even a strong offer may not be the right offer—especially if it arrives at the wrong time. Ask yourself:
Is this aligned with our long-term vision?
Are we at an inflection point (e.g., product launch, new market entry) that could significantly increase valuation in 12–18 months?
Would a broader process yield better terms or more strategic buyers?
In some cases, an unsolicited offer can serve as a catalyst to explore a structured exit. As we noted in Exit Business Planning Strategy, timing and preparation are critical to maximizing value.
5. Evaluate Deal Structure, Not Just Price
Headline valuation is only part of the story. The structure of the deal—cash vs. stock, earn-outs, escrows, indemnities—can materially affect your net proceeds and risk exposure.
For instance, a $20 million offer with 70% cash at close and a 30% earn-out tied to aggressive growth targets may be less attractive than an $18 million all-cash deal with minimal contingencies.
Be especially cautious with:
Earn-outs that are difficult to achieve or poorly defined
Stock consideration in illiquid or volatile acquirers
Escrow terms that tie up significant proceeds for extended periods
Taxes can erode a significant portion of your proceeds if not planned for properly. The structure of the deal (asset vs. stock sale), your corporate entity type, and your personal tax situation all play a role.
For example, a C-corp asset sale may trigger double taxation, while a stock sale may qualify for favorable capital gains treatment. Timing also matters—pending tax law changes or year-end planning can influence your net outcome.
One of the most powerful ways to evaluate an unsolicited offer is to test it against the market. A controlled, confidential process—run by an experienced M&A advisor—can surface additional buyers, increase competitive tension, and improve terms.
Even if you ultimately transact with the original bidder, the presence of other interested parties often strengthens your negotiating position.
Firms like iMerge specialize in managing these processes for software and technology companies, ensuring that founders retain control while maximizing value.
8. Protect Confidentiality and Minimize Disruption
Engaging with a buyer—especially a competitor—requires careful handling of sensitive information. Before sharing any data, ensure that a robust NDA is in place and that you control the flow of information.
Limit internal disclosure to key executives, and avoid letting the process distract from day-to-day operations. A drop in performance during diligence can jeopardize the deal or reduce valuation.
Conclusion
Unsolicited acquisition offers can be exciting, but they require a disciplined, strategic response. By pausing to assess the buyer’s intent, benchmarking valuation, evaluating deal structure, and considering your broader options, you can make an informed decision that aligns with your goals.
Founders navigating valuation or deal structuring decisions can benefit from iMerge’s experience in software and tech exits — reach out for guidance tailored to your situation.
