Baremetrics
👤 Josh Pigford (Serial SaaS maker. Built Baremetrics for his own products, ran it fully in public, exited for $4M, now builds Maybe.)🌐 sitejoshpigford.com𝕏LinkedIn
A subscription-analytics tool that showed its own MRR in public - so when Josh sold, due diligence was already done.
Will it work? · our read
Verified in public. A public dashboard turned due diligence into a formality and made a clean, all-cash exit possible - but the same slow, steady profile capped the price at a modest 2.65x.
01How the money moves
Founders connect Stripe to Baremetrics
→
Pay monthly for MRR, churn & LTV dashboards
→
Public, clean metrics enable $4M cash exit
02The numbers
$4M
all-cash sale, 2020
founder
2.65x
ARR multiple
founder
$3.7M
founder take-home
founder
All-cash, no earnout - Josh guaranteed his own $3.7M take-home. acquisition post
Sold for $4M cash (2.65x, about $1.5M ARR) to Xenon Partners, Nov 2020.
🔒
The facts are free. The judgment is for members.
You've seen how the money moves, the numbers, and every source — free, on all 365 cases, always. Members get the part you can't look up: why it won · where the moat really is · how it dies · how it beats its rivals — plus the 🚀 launchpad prompt that turns any case into a plan for your business.
Sources stay public, always · cancel anytime · 14-day refund
(demo: preview the full teardown)Sourcesupdated · daily
Baremetrics - "Selling a $4M SaaS" (founder post: price, multiple, structure)They Got Acquired - Xenon Partners deal (customers, team)Startups For the Rest of Us Ep. 534 - the $4M exitjoshpigford.com - founder site
Sale price ($4M), 2.65x multiple, $3.7M take-home, the all-cash / no-earnout structure, the $300K team pool and the $800K VC (General Catalyst, Bessemer) write-off are all first-party - Josh Pigford published them himself. ARR (about $1.5M) is derived from price divided by 2.65x, not separately stated. Customer count (about 1,000) and the 10-person team are reported by They Got Acquired, not the founder. No drama invented: the "no earnout capped my price" framing is Josh's own. The commoditization death read is [our read]. We never score you.