SOLD: 23 Year Old Founder Sells his SaaS Startup for $500k

Startup Acquisition Stories

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Luke Sheppard recently finished his bachelor’s degree at BYU with a little more spending money and work experience than most grads. He just sold his startup for $500,000 at age 23.

While attending university to study business, Luke launched a company called Revive Ratings. It was a marketing SaaS targeted at insurance agencies. He sold it in just over two years for six figures on Acquire.com.

To successfully launch his business, Luke took some big risks, like buying a one year $50,000 white-labeled software license while still pre-revenue.

But Luke also had lots of help along the way. His professors and even his competitors were happy to take a young college student under their wing as he learned the ropes.

After years of hard work and the help of the Acquire team, Luke managed to secure his dream exit and pave the road to many more to come. He’s already in the process of acquiring his next business on Acquire.

Post acquisition, listen to a jam-packed new episode of Startup Acquisition Stories Podcast as Luke and Andrew discuss:

The unfair advantage of launching a startup while in university
Why insurance agencies make great sales targets
How Andrew first discovered the idea behind his first successful startup, Bizness Apps
The potential timeline delays from SBA Loan buyers
Andrew’s college days as a young entrepreneur
What Andrew Gazdecki would be doing right now if he wasn’t running Acquire

Luke is just getting started and you can follow along on his journey here:

https://www.linkedin.com/in/sheppluke/

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100 episodes

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