ProfitWell Creates 13 Millionaires
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A story about how Patrick Campbell sold his bootstrapped company ProfitWell and distributed the wealth among employees.
"We bootstrapped ProfitWell so we owned 100% of it. We were pretty generous about giving out equity. The headline number is we had 13 millionaires, we had 30-35 people who made six figures or more, and then there were about 120 people total - including people who had worked at the company previously and current employees - who got some sort of consideration out of the deal.
The headline price was $200 million. It was over 200 technically, but since we're not public, it's weird about these numbers - what are you public with, what are you not. I have a board and a boss now, so I have to be a little careful about all the things I say."
Patrick Campbell
Co-founded Advocately, a review management platform for SaaS companies, in 2016. Overcame initial slow growth by applying lessons from past startup failures to shape strategy for AMP, an 8-figure SaaS company.
Emphasizes customer focus, speed, and effective goal-setting using the V2MOM framework to align company priorities. Developed strategies to balance product-led and sales-led growth in competitive e-commerce markets.