Creating MaxPreps Sports Media Juggernaut, and Selling It To CBS | Andy Beal

The Wise Exit

E23: On Episode 23 of the Cashing Out podcast, we have a special guest, good friend, and founder of MaxPreps, Andy Beal. In 2002, Andy launched MaxPreps which became one of America's top sports media properties, and it was the pre-eminent online source for high school schedules, scores, statistics, and video highlights. In 2007, Andy made the decision to sell MaxPreps to CBS Interactive for $43M. Andy stayed on with MaxPreps serving as its President for the next 13 years until he left CBS in 2020.

In today's conversation Andy and I talk about the debate over selling MaxPreps instead of raising more capital, and how having a great Board of Directors can help set you up for a really successful exit.

A few episode highlights:

(10:08) ... The thesis behind the creation of MaxPreps, and how it disrupted an entire industry

(13:10) ... How a lunch and a milkshake at Red Robin lead to a perfect company name

(23:08) ... Building the perfect M&A team to get to a successful exit

(38:41) ... EXIT OVERTIME: Who did you call? / How did you celebrate? / How did you reward yourself?

I hope you enjoy my conversation with Andy Beal.