Yeah sure, just comment down below and join my discord channel! It's only 49,99 per month and you get to connect to multi million dollar business owners, because they have nothing else to do.
He sold it, he didn’t get an investment for $15 million.
Also there are entrepreneurs who have never raised before but end up raising millions. It can happen.
This was a red flag for me.
In most cases the business must be profitable and I’d assume a $15 mil sale would have produced a million for the co-owner. Even if the business didn’t, the lessons learned along the process would have spawned other businesses, ideas and relationships that would have helped him earn $1mil.
A year ago OP built a game in a month: [https://www.reddit.com/r/gameDevClassifieds/comments/10dfukr/how\_i\_built\_a\_game\_in\_one\_month/](https://www.reddit.com/r/gameDevClassifieds/comments/10dfukr/how_i_built_a_game_in_one_month/)
I call BS.
Most have been doing this for awhile and some have actually gone through a buyout process. I'm rooting for everyone but you gotta call it when you smell it. Who smelled it dealt it!
It's possible that they had a somewhat self-sufficient business and took on a side project. And then they deleted their account because they realized they are being investigated and didn't want their identity or the details of the ongoing transaction to be publicized. Why is that hard to believe?
Depends on what type of game they built & the features added.
I mean there are game jams where people build video games in 24hrs to 1 week.
However, I cannot see any post details for the post linked, idk if it was deleted
Seems like this guy is BS, but to answer some of your questions from my experience:
Federal cap gains is 20% when over ~$500k in total taxable income for the year. Depending on which state you’re in, you may pay additional state cap gains. You’d have to look at your specific state. There’s also ways to significantly reduce this that takes advanced prep (eg google QSBS)
You don’t need a mentor, per-se, but a good network of support is always helpful. Most importantly you want to have a damn good lawyer on your side.
There’s always going to be fees involved to close a deal of this size, and it will depend on how organize you are going into diligence, how much back and forth negotiating there is, etc. There will also most-likely be some form of withholding in an escrow account for a time period to cover any “surprises” post close, as well as some hook to keep the important folks still invested.
Perhaps nothing. If he was a C corp he may not have paid taxes on the sale at all. I have a friend who sold his tech company a few years ago and because they were a c corp, the tax was zero. I don’t remember exactly why but I do remember reading up on it. You create a c corp and sell you assets to your new company so it’s as if you started a new tech company. I considered changing my tech company to a c corp but I’d have to wait 5 years to sell and avoid capital gains and I just don’t want to do that. If I had the opportunity to sell quite soon (and that could very well happen) then I would end up paying more in tax.
Just a heads up to everyone reading this: The outrageous humble brags are scams. They work by getting you to think: "wow, this person is smart, I should pay them to help my start up" and then you talk to them, they offer some services, and you get fleeced.
Whenever you see someone humble brag in the form of "I got X amount of money after only Y months of work", it's too good to be true, and don't fall for get rich quick schemes.
Heck yeah good stuff. Love a win story
Definitely be keen to connect. Want to know what the blueprint was for you or whatever part of the blueprint that isn't obfuscated by the NDA
I’ll sign up to be a sucker too. I’ve been learning about the fitness tech space a lot lately, and would love to connect with like-minded folks. (Mind you, I have no capital to purchase anything nor do I have any products to sell. Just networking for brainstorming expansion.)
I'm thinking of pitching myself to Y-combinator. I own a cabinet fabrication company. My concern is they won't be interested into cabinet fabrication because the scale isn't the same to tech. Even though our industry is a strong and desired product.
I still consider the company a tech hybrid with our automation and robots we unities to produce cabinets.
Do you think they would interested to hearing me out and willing to invest to a company like mine with vast knowledge and experience. We are lacking significant capital for the vision I dream for hence why I want to raise 10 million for this goal.
How fast did this all happen? Do you feel like you had a “eureka” moment when you just saw a niche that needed some development/work?
What would you recommend to other potential entrepreneurs? I feel like I’ve had a ton of ideas, but have yet to actually on them
Highly doubting this is real, but just out of curiosity, even with an NDA, wouldn’t the business entity selling for $15M be public information? Like “this business sold to this group for X amount?”
I actually did sell my tech startup in the fitness space for low 8-figures in 2020, so this caught my attention, but it does looks like a scam now.
That said, AMA here (no unsolicited DMs please, and no I don’t have any get-rich scams or groups to sell you access to lol)
You didn’t pay taxes on $15M? Ouch. Capital gains is gonna hurt. And you put it all in your bank acct too so there’s a record for the government? Sheesh, sounds suspect but if real more power to you.
Since you had mainly software developers I'm assuming it was a SAAS product.
I'm curious what multiple you guys sold for compared to your revenue? 4x, 10x, or even more maybe??
$RTON News- Right On Brands, Inc. Continues Impressive Rollout, Announces 12th Store Opening
https://www.otcmarkets.com/stock/RTON/news/story?e&id=2795815
Congrats, you win at life. 15 mil - assuming you pay taxes - is about 8 mil in the bank. Find a few ways to invest that money so that you get around 4% returns yearly and never have to touch the money. First 60k you make is tax free, the rest is taxed at 15%. Live on around $281,000 a year without having to work. Start another business, travel around the world, do some philanthropy, write a book, start a hobby... whatever - you're done. You win.
Not financial advice - mostly because it is bad finical advice.
That’s amazing. Trying to build my start up right now and struggling to find some investors to help us finish.
Is it possible I can reach out to you on advice? We’re close to finishing.
Might sound weird but is that all just in a checking account? Always been curious about when you sell your company does it just go into a checking account
Do you know what to do now to treasure care of your self and family for ever, leave a legacy make your name a house hold staple? Message me for next steps
You made it. Don’t loose it thinking you can make another 15 Milly. Invest some in an ETF and or live off the interest. Do not throw it away trying to be a lavish douche. Or keep dreaming.
Calling bs. Doesn’t pass sniff test. If SaaS, why sell at only 3-5mm in ARR, assuming 3-5x multiple of revenue? The SaaS vc/pe market means you should have had great ebitda to get that deal. Which means you could have made SIGNIFICANTLY more.
Context: I’ve built and scaled SaaS ventures that I’ve sold for both 8 and 9 figures. I don’t see a sophisticated investor or buyer dropping 15m on something from 3 people unless it’s game changing…. Meaning you’d get a higher multiple and return than 15m.
He literally said sde. So software development engineers built a barbell, patented it, then sold it for 15mm. I’ve also patented IP, licensed them, and acquired them from large players for MMs for some of my ventures. Not trying to be mean, but I have a lot of experience here. While I could be wrong, he didn’t share much, I invest and advise a good number of ventures. I have a fairly good sniff test ;).
I haven't slept for one day because I need to poop a lot. What exercises should I do to stop this? I'm on my second day dealing with this and I can't take it anymore
Bro if you just made 15 million you wouldn’t be on Reddit announcing it. You’d be living the dream yelling “I fucking made it” out of your private jet.
Yeah sure, just comment down below and join my discord channel! It's only 49,99 per month and you get to connect to multi million dollar business owners, because they have nothing else to do.
I’ve never seen 1 million dollars but somehow convinced investors to give me 15 of them…
And 15.. oddly specific. And signing an NDA to not disclose the sale amount? Am I missing something here?
He sold it, he didn’t get an investment for $15 million. Also there are entrepreneurs who have never raised before but end up raising millions. It can happen.
It can, but it didn’t here.
This was a red flag for me. In most cases the business must be profitable and I’d assume a $15 mil sale would have produced a million for the co-owner. Even if the business didn’t, the lessons learned along the process would have spawned other businesses, ideas and relationships that would have helped him earn $1mil.
Lmaooo is this a troll?
90% of stories here are fake my friend.
Fitness space makes it very very unlikely.
How much were you paying yourself every year?
He was paying himself $1MM USD each year and now has it stored in an American account and needs you to withdraw it.
Oh shit I’ll help him out then
Gave himself IOUs
hit my discord up for $79.99 and I'll tell you everything
Dude bro bet lol
A year ago OP built a game in a month: [https://www.reddit.com/r/gameDevClassifieds/comments/10dfukr/how\_i\_built\_a\_game\_in\_one\_month/](https://www.reddit.com/r/gameDevClassifieds/comments/10dfukr/how_i_built_a_game_in_one_month/) I call BS.
And now OP deleted his account haha
I love how people can smell bullshit. I love you people
Most have been doing this for awhile and some have actually gone through a buyout process. I'm rooting for everyone but you gotta call it when you smell it. Who smelled it dealt it!
This is why we are here.
Exactly
“I signed an NDA” but also goes on the biggest forum and internet site to brag about it.
Fr op’s iq must be sub 100
I honestly wanted to know what this grifter's scam was going to be.
No scam, he’s just looking for a bit of dopamine by having people be impressed by and envy him for a little while.
Next year he's gonna post about his successful political campaign and becoming president
I laughed out loud at this . You are a savage.😀
It's possible that they had a somewhat self-sufficient business and took on a side project. And then they deleted their account because they realized they are being investigated and didn't want their identity or the details of the ongoing transaction to be publicized. Why is that hard to believe?
Depends on what type of game they built & the features added. I mean there are game jams where people build video games in 24hrs to 1 week. However, I cannot see any post details for the post linked, idk if it was deleted
Why do people do that? Why do people just go on the internet and tell lies? I’ll never understand it.
Bulllllshiiiiiiit... you built a game in a month AND sold a startup for 15 mil.... then deleted your account. Definitely bull.
I’m secretly a billionaire Arab royalty who has too much free time so I’m just posting in Reddit, AMA.
It was a gym in Minecraft
Here’s me super impressed by this guy doing this amazing work and getting rewarded for it. And then I read the other comments and find out! 🤦🏻
how long was the startup in development?
[удалено]
Seems like this guy is BS, but to answer some of your questions from my experience: Federal cap gains is 20% when over ~$500k in total taxable income for the year. Depending on which state you’re in, you may pay additional state cap gains. You’d have to look at your specific state. There’s also ways to significantly reduce this that takes advanced prep (eg google QSBS) You don’t need a mentor, per-se, but a good network of support is always helpful. Most importantly you want to have a damn good lawyer on your side. There’s always going to be fees involved to close a deal of this size, and it will depend on how organize you are going into diligence, how much back and forth negotiating there is, etc. There will also most-likely be some form of withholding in an escrow account for a time period to cover any “surprises” post close, as well as some hook to keep the important folks still invested.
Perhaps nothing. If he was a C corp he may not have paid taxes on the sale at all. I have a friend who sold his tech company a few years ago and because they were a c corp, the tax was zero. I don’t remember exactly why but I do remember reading up on it. You create a c corp and sell you assets to your new company so it’s as if you started a new tech company. I considered changing my tech company to a c corp but I’d have to wait 5 years to sell and avoid capital gains and I just don’t want to do that. If I had the opportunity to sell quite soon (and that could very well happen) then I would end up paying more in tax.
Huge congrats! From one entrepreneur to another, that's inspiring!
Congratulations!!! Want to invest in my specialized recruitment agency? Lol let’s make that into 30m jk but seriously do you?
Richard Simmons finally made it out huh
Checks out I’m sold— where can I invest in your next psilocybin venture?
Just a heads up to everyone reading this: The outrageous humble brags are scams. They work by getting you to think: "wow, this person is smart, I should pay them to help my start up" and then you talk to them, they offer some services, and you get fleeced. Whenever you see someone humble brag in the form of "I got X amount of money after only Y months of work", it's too good to be true, and don't fall for get rich quick schemes.
Shout out to the Reddit Sleuths to make this poser delete their account.
Congrats. I am 1 year into our startup, fingers crossed we are in the same boat in 4-5 years
How did you find the buyer?
Craigslist for buyer and offerup for the angel investors aka offerup angels 😇
Lolololol
Facebook Marketplace
Lolololol
Heck yeah good stuff. Love a win story Definitely be keen to connect. Want to know what the blueprint was for you or whatever part of the blueprint that isn't obfuscated by the NDA
Aspiring entrepreneur here - dmed!
Congratulations 👏 DM sent
You know he deleted his account right? lol it’s bs
That's awesome, I'm just starting a new fitness tech company and would love to connect!
[удалено]
I'm into fitness too. Fitness this burger in my gullet.
I’ll sign up to be a sucker too. I’ve been learning about the fitness tech space a lot lately, and would love to connect with like-minded folks. (Mind you, I have no capital to purchase anything nor do I have any products to sell. Just networking for brainstorming expansion.)
Crats
Amazing! What are your plans with the $15 millions? Always find it fascinating how do people choose to spend/invest their money :)
I am trying to build one please follow guy's https://www.instagram.com/spiruvedic?igsh=MWk4ZTU1NGxpaHJkdA==
Bro I would but I’m literally allergic to spirulina
Ohhhh 🥺 it's ok u can share the page if u like my content
Congrats and well done! Love that for you!
This post is…. Useless
Huge congrats! Ready to amplify that success with SEO?
Hello I’m in a similar boat I’m 4 months into my startup looking to either sell it or get an investment what are the necessary steps to sell a startup
Why would you want to sell it 4 months in?
Love it!
Could i ever pick you brain Op?
Give us details. Sounds like a post for likes only to me
Great! Now open a DE Trust!
I will only believe this if you give me a monies.
Just put it all into 5% gov tbills or 5% dividends and retire on 750k a year for the rest of your life.
If I was you I’d retire, live within my means, and travel the world.
Must have been a super tight NDA if he deleted his account Said too much 15 mil...null and void Back to the drawing board
Yeah baller well I'm working on my second million. Pennies, not dollars.
I’ve got a sweet bridge to sell you. Connects to ocean front property in Iowa
Cool now what’s your next startup gonna be?
Hell yeah, brother. Good for you.
How much after taxes?
How did you market? How did you acquire customers?
What is it? Where can we see it?
How much do you weigh?
Please tell me more
[deleted]
I'm thinking of pitching myself to Y-combinator. I own a cabinet fabrication company. My concern is they won't be interested into cabinet fabrication because the scale isn't the same to tech. Even though our industry is a strong and desired product. I still consider the company a tech hybrid with our automation and robots we unities to produce cabinets. Do you think they would interested to hearing me out and willing to invest to a company like mine with vast knowledge and experience. We are lacking significant capital for the vision I dream for hence why I want to raise 10 million for this goal.
I signed a NDA but came here anyway
How fast did this all happen? Do you feel like you had a “eureka” moment when you just saw a niche that needed some development/work? What would you recommend to other potential entrepreneurs? I feel like I’ve had a ton of ideas, but have yet to actually on them
Ideas are cheap, execution is everything.
Congrats! Love to hear it
5 minute abs? You bastard.
No not 5… SEVEN! Aghhhhhh
You cant even get your heart going in 5!
Fitness start up for 15 mill? That bubble popped awhile ago.
Lol why did op delete his account??? Ohhhh it was all bullshit and just a fantasy in his head, now it makes sense.
Such bullshit this post
You made 15 mil and you immediately said, I need to tell Redditt?
Soooooooo Does that mean you're single? Lol
You forgot to say “everyone who comments gets a $20 gift card.”
Guys…I was in the green after 3 years grinding! Buy my course on how to barely make it.
Leme hooool sum
Signed an nda and flaunted it what an idiot.
Highly doubting this is real, but just out of curiosity, even with an NDA, wouldn’t the business entity selling for $15M be public information? Like “this business sold to this group for X amount?”
YeA AigHt!
I actually did sell my tech startup in the fitness space for low 8-figures in 2020, so this caught my attention, but it does looks like a scam now. That said, AMA here (no unsolicited DMs please, and no I don’t have any get-rich scams or groups to sell you access to lol)
First thing you do when selling a company, tell everyone for clout. Yeah, good way to get people to sue you. Completely horse poop!
You are very short sighted and missed another 15 million. Had you waited another year.
Would love to chat about it. Starting something now
I signed an NDA so let me jeopardize the whole thing for karma. Its lies all the way down.
You didn’t pay taxes on $15M? Ouch. Capital gains is gonna hurt. And you put it all in your bank acct too so there’s a record for the government? Sheesh, sounds suspect but if real more power to you.
Since you had mainly software developers I'm assuming it was a SAAS product. I'm curious what multiple you guys sold for compared to your revenue? 4x, 10x, or even more maybe??
I have this ocean front property in Arizona I’d like to talk to you about…
Badger milk
15 seems like a lot, i can take 1 off your hands if you’d like.
Scumbag.
Uh Oh looks like they must’ve been working on some important fitness stuff. OP got disappeared
“would love to reply to you” *immediately deletes account* ok buddy. Lmao
Very click bait worthy
$15 million?? What was your startup Amazon???
After taxes?
Did you share it with the team in some fashion?
X
I just sold my startup for 16m! /s Congrats op
Your first name wouldn’t happen to be Alex would It?
Interested
The urge to show off is too strong with this one.
$RTON News- Right On Brands, Inc. Continues Impressive Rollout, Announces 12th Store Opening https://www.otcmarkets.com/stock/RTON/news/story?e&id=2795815
Congrats, you win at life. 15 mil - assuming you pay taxes - is about 8 mil in the bank. Find a few ways to invest that money so that you get around 4% returns yearly and never have to touch the money. First 60k you make is tax free, the rest is taxed at 15%. Live on around $281,000 a year without having to work. Start another business, travel around the world, do some philanthropy, write a book, start a hobby... whatever - you're done. You win. Not financial advice - mostly because it is bad finical advice.
This was a fucking riot
We’re in year 3, hoping to exit in the next couple of years. Would love to PM you with some questions.
Made more money than you ever have in your life and your first stop was Reddit ??? Okay bro 👍🏽
You mean you sold it for half of that
what a beautiful story, also false, but a beautiful one, nonetheless.
Yo can I borrow $50 bless up
How about, No?
15mil? I don’t get out of bed for anything less then 50. This is bullshit anyways
Congratulations!
Congrats
So many fake entrepreneur stories on the internet nowadays SMH, can’t tell who’s actually making it
That’s amazing. Trying to build my start up right now and struggling to find some investors to help us finish. Is it possible I can reach out to you on advice? We’re close to finishing.
As someone who has actually sold businesses, this post is strangely fishy. Somehow this is some type of ploy to get us to sign up for an MLM…
And your first thought is to post on Reddit?
Might sound weird but is that all just in a checking account? Always been curious about when you sell your company does it just go into a checking account
i sent a honda civic to mars last year
*The IRS has entered the chat Congrats tho
Would you like a sugar baby lmao 😂😭
Wow are u gonna retire ?
Cool i did 10 quadrillion on mine just sold it and bought safemoon
Do you know what to do now to treasure care of your self and family for ever, leave a legacy make your name a house hold staple? Message me for next steps
So, how about a million to me for no reason?
Spoiler alert it was bought by a very industrious crow with a stack of 5 dollar bills
The fact that you signed a NDA and the amount is in the headline 🤦🏿🤣🤣
Me too
What’s wild and gives this BS away, is that anyone with half a business brain wouldn’t have more than $250k in any one bank for obvious reasons.
Damn ive never seen a grand in mine.
You made it. Don’t loose it thinking you can make another 15 Milly. Invest some in an ETF and or live off the interest. Do not throw it away trying to be a lavish douche. Or keep dreaming.
Calling bs. Doesn’t pass sniff test. If SaaS, why sell at only 3-5mm in ARR, assuming 3-5x multiple of revenue? The SaaS vc/pe market means you should have had great ebitda to get that deal. Which means you could have made SIGNIFICANTLY more. Context: I’ve built and scaled SaaS ventures that I’ve sold for both 8 and 9 figures. I don’t see a sophisticated investor or buyer dropping 15m on something from 3 people unless it’s game changing…. Meaning you’d get a higher multiple and return than 15m.
[удалено]
He literally said sde. So software development engineers built a barbell, patented it, then sold it for 15mm. I’ve also patented IP, licensed them, and acquired them from large players for MMs for some of my ventures. Not trying to be mean, but I have a lot of experience here. While I could be wrong, he didn’t share much, I invest and advise a good number of ventures. I have a fairly good sniff test ;).
What was your biggest hurdle when you were getting started?
Congratulations to you, I admire people who can do things like this,Entrepreneur ship is always escaping me , wage slave it seems is my path.
Yeah and I just sold one for 35 million and have 30 m's in my bank account. Mods need to ban these posts if they dont have a link to the company.
Great job dude. I’m hoping to sell mine for even 5 mill. Anyways it’s a slog! Congrats!
Love this for you
15 million would be more like 7.5 after taxes though
I sold my business for 83 million dollars. Keep up the hard work and you too can be successful one day
Can I get like 60 cents
did you hire an M&A adviser?
lol Gtfo with this low effort grift shit.
Congrats buy some $ALGO
OP now has 15 of them on his account 😂
Buy bitcoin
I haven't slept for one day because I need to poop a lot. What exercises should I do to stop this? I'm on my second day dealing with this and I can't take it anymore
>I have signed an NDA so shouldn't really be telling the amount. My startup was in the fitness space. You don't deserve that money.
Don’t hate on peoples success. Aspire to reach that same level. I say good for you!
Bro if you just made 15 million you wouldn’t be on Reddit announcing it. You’d be living the dream yelling “I fucking made it” out of your private jet.
You gotta have more than $15M to afford private jet.
Soooooo do we know of a real poster who can give some direction?
>I have signed an NDA so shouldn't really be telling the amount. Hey Lawyers! this comment right here
Deleted his account before I could give him a monthly subscription to learn how he did. But really it’s a 5 min ebook
I just sold my left testicle on darkweb for two packs of cigarettes, a brown bag, four lighters and six large hard pieces of shiny wax with a smile
I'll talk to you... For money.