Why Thomson Reuters Paid $124 Million For Pondera Solutions

When Jon Coss founded Pondera Solutions in 2011, his goal was to reduce fraud in U.S. government programs like Medicaid and unemployment insurance. By 2020 Coss and his partners had built Pondera to more than $9 million in annual recurring revenue when they received an offer from Thomson Reuters for a reported $124 million. In this wide-ranging interview, you’ll learn how to:

  • Take some chips off the table while still benefitting in the upside of a majority re-capitalization.
  • Recruit experienced employees for less than market.
  • Leverage the difference between TAM and SAM.
  • Use a simple hack for increasing the amount of inbound interest you get from acquirers and investors.
  • Avoid setting unrealistic expectations for investors.
  • Structure compensation for your executive team.
  • Know when venture debt might be a better option than selling equity.
  • Protect your relationship with the acquirer using the good cop/bad cop negotiation strategy.

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