Swapstack
Acquirer renegotiations are common at the finish line. Co-founded by Jake Singer & Jake Schonberger (launched 2021). At $25K MRR / $300K ARR with 4 employees; beehiiv adjusted the original offer downw
Acquirer renegotiations are common at the finish line. Co-founded by Jake Singer & Jake Schonberger (launched 2021). At $25K MRR / $300K ARR with 4 employees; beehiiv adjusted the original offer downward during due diligence, final deal fell short of repaying investors. Half the team joined beehiiv.
Financial Data
Exit Analysis
Priced against revenue rather than profit, Swapstack sold at 0.8× annual revenue, below the 2.3× median across the 277 deals with a disclosed revenue multiple. Revenue multiples run higher than profit multiples because they ignore the cost of running the business, so they are only comparable between businesses with similar margins.
The $250,000 sale price puts it in the top quarter 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 67 Marketplace exits, and the ones that disclosed a price sold at a median of $31,750. 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.
See how this compares across the market on our market stats page, or browse more Marketplace exits.
Exit Timeline
Tech Stack
Founder
Lessons Learned
Acquirer renegotiations are common at the finish line. Co-founded by Jake Singer & Jake Schonberger (launched 2021). At $25K MRR / $300K ARR with 4 employees; beehiiv adjusted the original offer downward during due diligence, final deal fell short of repaying investors. Half the team joined beehiiv.
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