E

Extra Points

Newslettersubscription 2021

Independent newsletter covering the business side of college sports.

Substack-based newsletter from journalist Matt Brown covering finance, governance and business of NCAA athletics. Acquired by college sports media company D1.Ticker.

Financial Data

Asking Price
Undisclosed
Sale Price
$110,000 USD
Monthly Revenue (MRR)
$4.5K/mo
Annual Revenue (ARR)
$55,000/yr
Monthly Profit
N/A
Profit Multiple
2.0×
Revenue Multiple
2.0×

Exit Analysis

Extra Points changed hands at a 2.0× profit multiple, below the 2.5× median of the 105 deals in this database that disclosed both price and profit. Multiples below the median usually point to risk the buyer priced in: churn, dependence on a single channel or a business that still needed its founder.

The $110,000 sale price puts it in the upper half of the 623 deals with a disclosed price here, where the median is $21,000. Most indie acquisitions cluster well under the headline numbers founders read about, which is exactly why a real distribution is more useful than an average.

This database tracks 78 Newsletter exits, and the ones that disclosed a price sold at a median of $5,000. Category matters more than founders expect: buyers apply different discount rates to a content business, a mobile app and a B2B tool even at identical revenue.

From founding to sale took 1.0 years. The deal closed through duuce, one of 8 exits in this database that went the same route. Time to exit is a decent proxy for how built-to-sell a business was: shorter, cleaner processes usually mean documented operations and fewer surprises in due diligence.

See how this compares across the market on our market stats page, or browse more Newsletter exits.

Exit Timeline

Founded
2020
Exit Date
November 2021
Platform
duuce

Tech Stack

Substack

Founder

M
Matt Brown

Lessons Learned

Newsletters sell at roughly 2x annual revenue. Listing on multiple marketplaces (Duuce + MicroAcquire) maximizes buyer competition.
Source
Press