Peach New Media was launched in 2001 and sold in 2015 by Dave Will. Will had built his software company up to 40 employees when he received an offer from the private equity group Accel-KKR that he simply could not refuse.
Peach New Media was launched in 2001 by Dave Will, who carried the title “Chief Peach” until he sold the business in 2015. Will had built his learning-management software company up to 40 employees when he received an offer from the private equity group Accel-KKR that he simply could not refuse. In this interview, Will shares his wisdom on:
- How to create a company acquirers will want to buy.
- How to figure out when to sell.
- How to look at your business as an investor would.
- Cup-holder ideas and how they impact your company’s value.
Will decided to sell his business when he received an offer that indicated the acquirer’s willingness to pay forward for a lot of future growth. If you want to know what your company is worth—and what it could be worth to some buyers—get your Value Builder Score here.
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About Dave Will
In February of 2015, private equity firm Accel-KKR acquired Will’s company, Peach New Media, a learning platform software company he started in 2001. As CEO and founder of this SaaS software and service business—with a strong emphasis on scalability, customer experience and company culture—Will grew the company to 40 employees and 200+ clients. Currently, he is in the process of mentoring and building new technology businesses.
Will began his technologically oriented career in the consumer packaged goods industry, working with sales planning software for several companies including Kraft, Nielsen, Gillette, Ocean Spray, and Polaroid. He applied his analysis software knowledge to enterprise applications, consulting with PriceWaterhouseCoopers, where Will worked with several other consumer product and technology firms.
Will has a Bachelors from University of Connecticut and an MBA from Pennsylvania State. He lives with his wife, Nicole, and three boys on the south shore of Boston. He is a coach, a Boy Scout leader, and a race director involved in three local road races raising funds for local community charities. As part of his passion for endurance sports, he has run 48 marathons, several ultramarathons and two Ironman triathlons. When he’s not traversing the land by foot, he can often be found sailing with his family around the old seaports of New England.
Some Highlights of the Show
Business: Peach New Media
- Peach New Media hosted and distributed educational content for associations. [2:40]
- The beginning. [4:13]
- Buying out his first partner for $17,000. [6:30]
- Sold in 2015 to Accel-KKR. [7:20]
- Working with Walmart and their 50,000 suppliers. [9:05]
- The triggering point. [11:30]
- The Prometheus process. [13:10]
- One year into the process Dave received a call. [15:24]
- “We were at a point where the only way we were going to make it substantially better was through more investment and bringing it into an environment where you could do bigger and better things.”
- Talking risk from the eyes of the business owner and the acquirer. [21:03]
- How to look at your business as an investor would. [21:20]
- Takeaway advice: you are in the best position to sell when you don’t need to or want to. [26:08]
- “It was a number that says I have ultimate control of what I do next.” [28:05]
- How to figure out when to sell. [33:00]
- “It was a very transparent process.” [35:35]
- Telling the family. [35:15]
- “I found my true passion when I was laid off.” [39:04]
- Cup-holder ideas and how they impact your company’s value. [39:45]
- Find Dave on twitter at @PeachDave or online at DavidRWill.com
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For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at Eric@EdisonAvenue.com or 239.738.6227. Also, visit our Edison Avenue website at www.EdisonAvenue.com.
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