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cover of episode Ep 480 Exit Story: The $80M Deception—How Kevin Wagstaff Walked Away and Won

Ep 480 Exit Story: The $80M Deception—How Kevin Wagstaff Walked Away and Won

2025/2/7
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Built to Sell Radio
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Kevin Wagstaff and his brother bootstrapped Spectora, a SaaS platform for home inspectors, starting with just $2,500 each. They identified a gap in the market for digitized home inspection reports and built a successful platform through SEO, word-of-mouth marketing, and a strong focus on customer feedback. Their journey highlights the power of organic growth and building a loyal customer base in a niche market.
  • Bootstrapped Spectora with $2,500 each
  • Targeted a niche market with high SEO potential
  • Emphasized customer feedback and organic growth
  • Built a platform with a strong focus on user experience and time savings

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When Kevin Wagstaff and his brother bootstrapped Spectora, a SaaS platform for home inspectors, with just $2,500 each, they never expected to one day face an $80 million acquisition offer. Spectora transformed the home inspection industry by replacing outdated paper reports with a digital platform that streamlined workflows, saved inspectors time, and enhanced the client experience.  But when an acquirer attempted to re-trade the deal at the last minute—adding a $25 million seller’s note, a $10 million earn-out, and a 36-month call option—Kevin learned a hard lesson: just because an offer is on the table doesn’t mean the deal is done.  The acquirer assumed Kevin and his brother would be too invested in the deal to walk away. But thanks to their advisor’s guidance, they stood firm. The result? The acquirer backtracked, offering the original terms. Kevin and his brother still walked, ultimately selling a majority stake at a $90 million valuation to a better partner.