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NYC Exit Calculator: New York Startup Exit Valuations & Fintech M&A 2025

12 min min read

Calculate your NYC startup exit value with fintech (8-12x ARR), e-commerce (1-3x revenue), and media tech multiples. Model strategic vs financial buyer scenarios with New York market benchmarks.

NYC Exit Calculator: Model Your New York Startup Exit Valuation

New York City has emerged as the second-largest tech exit market in the United States, with distinct valuation dynamics driven by fintech dominance, financial buyer activity, and strategic acquirers from Wall Street. NYC exits differ fundamentally from Silicon Valley in acquirer profiles, exit multiples, and sector concentration.

This comprehensive guide provides NYC founders with actionable exit valuation frameworks, current market multiples across fintech, e-commerce, and media tech sectors, and step-by-step calculations to model strategic vs financial buyer scenarios using New York-specific benchmarks.

TL;DR: NYC Exit Valuation Quick Reference

Fintech Exit Multiples (2025): 8-12x ARR for payment and lending platforms with strong unit economics; 10-15x ARR for wealth management and capital markets infrastructure with enterprise traction.

E-Commerce Exits: 1-3x revenue for direct-to-consumer brands; 3-5x GMV for established marketplaces with positive unit economics and 40%+ repeat purchase rates.

Media/Content Tech Exits: 4-8x revenue for subscription content platforms; 2-4x revenue for ad-supported media tech with verified audience engagement.

Strategic vs Financial Buyers: Strategic acquirers pay 20-30% premium to financial buyers but require strategic fit; private equity and growth equity buyers dominate NYC M&A volume.

Why NYC Exit Valuations Differ From Silicon Valley

New York City commands exit multiples 15-25% below Silicon Valley averages due to structural market differences, but offers unique advantages in specific sectors:

1. Financial Buyer Dominance: NYC hosts the world's largest concentration of private equity and growth equity firms (KKR, Blackstone, Vista Equity, Thoma Bravo). Financial buyers prioritize cash flow and profitability over pure growth, resulting in lower multiples but faster, more certain deal execution.

2. Fintech Strategic Premium: NYC's proximity to Wall Street creates strategic premium for fintech companies. Banks (JPMorgan, Goldman Sachs), card networks (Visa, Mastercard), and financial infrastructure companies (Bloomberg, Fidelity) pay aggressive multiples for fintech capabilities.

3. E-Commerce and Retail Integration: Strong fashion, retail, and CPG presence in NYC drives strategic exits for DTC and marketplace companies to traditional brands seeking digital transformation.

4. Profitability Focus: NYC investors and acquirers emphasize unit economics and path to profitability over growth-at-all-costs. Companies with positive economics command premium valuations relative to unprofitable high-growth peers.

NYC Exit Multiples by Sector (2025 Benchmarks)

Fintech Exit Multiples

Payment Processing and Infrastructure:

  • ARR Multiple: 10-15x ARR for companies processing >$10B annually
  • Typical Exit Range: $300M-$2B acquisition value
  • Recent Comps: Plaid ($5.3B offer from Visa at 35x revenue - outlier), Stripe (private at $50B+ valuation), Marqeta ($4.3B IPO at 30x revenue)
  • Key Drivers: Transaction volume growth, merchant retention >95%, expanding take rate, embedded finance distribution

Lending and Credit Platforms:

  • ARR Multiple: 6-10x revenue or 1.5-2.5x loan book value
  • Typical Exit Range: $200M-$1.5B
  • Recent Comps: SoFi ($8.6B IPO), LendingClub ($4.4B merger with Radius Bank), Kabbage ($850M to AmEx)
  • Key Drivers: Net charge-off rates <3%, CAC payback <12 months, regulatory compliance track record, repeat borrower rate >40%

Wealth Management and Investment Tech:

  • ARR Multiple: 8-12x ARR for B2B fintech; 2-4x AUM for consumer robo-advisors
  • Typical Exit Range: $150M-$1B
  • Recent Comps: Wealthfront ($1.4B to UBS at 2.6% of AUM), Personal Capital ($1B to Empower at 1.8% of AUM), Orion ($4.7B to Bain Capital)
  • Key Drivers: AUM growth rate, net new asset flows, advisor/client retention, revenue per AUM >50bps

Insurance Tech (Insurtech):

  • Revenue Multiple: 3-6x revenue for profitable underwriters; 1-2x gross written premium for unprofitable
  • Typical Exit Range: $300M-$2B
  • Recent Comps: Lemonade ($3.9B IPO at 28x revenue - outlier), Hippo ($5B SPAC at 15x revenue), Next Insurance ($4B valuation private)
  • Key Drivers: Loss ratio <70%, combined ratio <100%, policy retention >80%, direct distribution vs broker dependency

E-Commerce and Marketplace Exit Multiples

Direct-to-Consumer (DTC) Brands:

  • Revenue Multiple: 1-3x revenue for profitable brands with strong repeat rates
  • Typical Exit Range: $50M-$500M
  • Recent Comps: Harry's ($1.37B to Edgewell - blocked by FTC), Dollar Shave Club ($1B to Unilever at 6x revenue), Glossier ($1.8B valuation private)
  • Key Drivers: LTV/CAC >3, repeat purchase rate >40%, owned customer data, omnichannel retail partnerships

Vertical Marketplaces:

  • GMV Multiple: 3-5x GMV for established marketplaces; 8-15x net revenue (GMV x take rate)
  • Typical Exit Range: $200M-$1.5B
  • Recent Comps: StockX ($3.8B valuation at 4x GMV), Reverb ($275M to Etsy at 6x GMV), Poshmark ($1.2B IPO at 3x GMV)
  • Key Drivers: Take rate >15%, buyer repeat rate >50%, seller retention >70%, positive unit economics at cohort level

B2B E-Commerce and Procurement:

  • GMV Multiple: 2-4x GMV or 10-15x net revenue
  • Typical Exit Range: $300M-$2B
  • Recent Comps: Faire ($12B+ valuation private), Ordergroove ($200M to Vista Equity), Lightspeed Commerce ($3B IPO)
  • Key Drivers: Supplier retention >90%, increasing order frequency, software revenue beyond transaction fees

Media and Content Tech Exit Multiples

Subscription Content Platforms:

  • Revenue Multiple: 4-8x revenue for high-retention subscription businesses
  • Typical Exit Range: $100M-$1B
  • Recent Comps: The Athletic ($550M to NYT at 10x revenue), Axios ($525M to Cox at 15x revenue), Morning Brew ($75M to Business Insider)
  • Key Drivers: Monthly churn <5%, subscriber LTV/CAC >4, proven pricing power, email/push engagement >40%

Ad-Supported Media Tech:

  • Revenue Multiple: 2-4x revenue for profitable media with verified audience
  • Typical Exit Range: $50M-$500M
  • Recent Comps: Refinery29 ($400M to Vice - now defunct), Thrillist/NowThis ($200M+ to Group Nine), Group Nine Media ($1.1B merger with Vox)
  • Key Drivers: Verified audience reach, email list size >1M, social distribution independence, programmatic CPM premium

Strategic vs Financial Buyer Exit Dynamics in NYC

Financial Buyers: Private Equity and Growth Equity

Financial buyers represent 55-65% of NYC tech exits by volume, significantly higher than Silicon Valley's 30-40%. Understanding PE/growth equity valuation methodology is critical for NYC founders.

Financial Buyer Valuation Methodology:

  • EBITDA-Based Valuation: PE firms value companies on EBITDA multiples (8-15x EBITDA) rather than revenue multiples. Pre-EBITDA companies receive revenue multiples with 30-50% discount to profitable peers.
  • Cash Flow Focus: Financial buyers prioritize free cash flow generation and payback period. Companies with negative cash burn face 40-60% valuation discounts vs cash flow positive peers.
  • Leverage Capacity: PE firms use debt to finance acquisitions. Companies with recurring revenue and predictable cash flows support higher leverage multiples (4-6x EBITDA in debt), driving higher equity valuations.
  • Exit Multiple Arbitrage: PE buyers target 2.5-3x MOIC (multiple on invested capital) over 4-6 years. They pay lower entry multiples than strategic buyers but optimize operations for higher exit multiples.

When to Target Financial Buyers:

  • Your company generates consistent EBITDA or is within 12 months of EBITDA profitability
  • Annual recurring revenue >$30M with 70%+ gross margins
  • Strong unit economics (LTV/CAC >3, payback <18 months)
  • Management team willing to roll 10-30% equity for upside in PE recap
  • Growth rate 20-40% (PE focuses on profitable growth vs hypergrowth)

Financial Buyer Deal Structure: PE deals typically involve 60-80% cash at close, with founders rolling 10-30% equity for second bite of apple. Founder often stays as CEO for 2-3 years post-acquisition with earnout tied to EBITDA targets.

Strategic Buyers: Corporate M&A

Strategic buyers in NYC include financial services companies (JPMorgan, Goldman Sachs, Fidelity), retail and consumer brands (Walmart, Target, Macy's), and media conglomerates (NYT, Bloomberg, NBCUniversal).

Strategic Buyer Valuation Premium:

  • Strategic acquirers pay 20-40% premium to financial buyers for companies with clear strategic fit
  • Premiums expand to 50-100% for defensive acquisitions (competitor buy to prevent rival from acquiring)
  • Strategic buyers value future synergies and distribution advantages, not just standalone cash flow
  • All-cash deals at 100% liquidity vs PE's 60-80% cash + rollover equity structure

When to Target Strategic Buyers:

  • Your product integrates directly into acquirer's core platform or customer base
  • You're building competitive threat to strategic acquirer's business (defensive buy)
  • Acquirer lacks technical capabilities you've built (fintech infrastructure, data platform, AI/ML)
  • Your customer base overlaps 60%+ with acquirer's target market
  • Growth rate >50% (strategics pay premium for velocity even without profitability)

Strategic Buyer Deal Structure: All-cash transactions at 100% liquidity are most common. Founders typically exit within 12-18 months post-acquisition after earn-out period. Retention packages focus on key technical talent rather than founder ongoing involvement.

Step-by-Step NYC Exit Valuation Calculation

Step 1: Determine Your Primary Valuation Metric

For Fintech SaaS: Use ARR as primary metric. Calculate ARR from monthly recurring revenue (MRR) x 12. Exclude one-time implementation fees.

For Transaction-Based Fintech: Use annual transaction volume (payments processed, loans originated) or net revenue (volume x take rate). Acquirers model margin expansion scenarios.

For E-Commerce/Marketplaces: Use trailing 12-month revenue for DTC brands or GMV for marketplaces. Also calculate net revenue (GMV x take rate) for marketplace economics.

For Profitable Companies: Calculate adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization). Add back founder salary above market rate, one-time expenses, and non-cash stock compensation.

Step 2: Choose Strategic vs Financial Buyer Path

Financial Buyer Path (PE/Growth Equity):

  • Requires EBITDA profitability or clear path within 12 months
  • Valuation based on EBITDA multiples: 8-15x EBITDA depending on growth rate
  • Revenue multiples for pre-EBITDA companies: 3-6x revenue (30-50% discount to strategic)
  • Best for companies with >$30M ARR, 70%+ gross margins, 20-40% growth

Strategic Buyer Path:

  • Valuation based on revenue or ARR multiples: sector-specific benchmarks
  • 20-40% premium to financial buyer base valuation
  • Growth rate and strategic fit drive premium, not current profitability
  • Best for companies with >50% growth, clear platform integration, or competitive positioning

Step 3: Apply NYC-Specific Adjustments

Financial Buyer EBITDA Multiple Adjustments:

  • EBITDA margin >30%: Add 2-4x to base EBITDA multiple
  • Revenue growth >30%: Add 2-3x to base EBITDA multiple
  • Customer concentration <10% from top customer: Add 1-2x to base multiple
  • Management team committed to 2+ year retention: Add 1-2x to base multiple

Strategic Buyer Revenue Multiple Adjustments:

  • Direct integration path with acquirer's platform: Add 30-50% premium
  • Overlapping customer base >60%: Add 20-40% premium
  • Competitive threat to acquirer (defensive buy): Add 40-80% premium
  • Regulatory advantages or licenses: Add 20-30% premium

Step 4: Calculate Base Exit Valuation

Financial Buyer Example - Fintech SaaS:

  • Company: B2B payment processing API
  • ARR: $40M
  • Adjusted EBITDA: $8M (20% EBITDA margin)
  • YoY Growth: 35%
  • Gross Margin: 75%
  • Base PE EBITDA Multiple: 12x (for fintech SaaS)
  • Growth Premium: +2x (for 35% growth)
  • Margin Premium: +1x (for 20% EBITDA margin)
  • Adjusted EBITDA Multiple: 15x
  • Exit Valuation: $8M EBITDA x 15 = $120M

Strategic Buyer Example - E-Commerce Marketplace:

  • Company: Fashion resale marketplace
  • Trailing 12M GMV: $200M
  • Take Rate: 20%
  • Net Revenue: $40M
  • YoY Growth: 80%
  • Buyer Repeat Rate: 55%
  • Base Marketplace Multiple: 4x GMV or 12x net revenue
  • Strategic Fit Premium: +30% (acquirer is traditional fashion retailer seeking resale capability)
  • Valuation Path 1 (GMV): $200M x 4 x 1.3 = $1.04B
  • Valuation Path 2 (Net Revenue): $40M x 12 x 1.3 = $624M
  • Expected Valuation Range: $625M-$1B (use net revenue as floor, GMV as ceiling)

Step 5: Model Founder Proceeds Net of Preferences

Financial Buyer Scenario (PE/Growth Equity):

  • Exit Valuation: $120M
  • Total Liquidation Preferences: $35M (from Series A-C)
  • Cash Consideration: 70% ($84M cash at close)
  • Rollover Equity: 30% ($36M equity rolled into PE vehicle)
  • Founder Ownership Post-Dilution: 18%
  • Founder Cash at Close: ($84M - $35M) x 0.18 = $8.8M
  • Founder Rollover Equity: $36M x 0.18 = $6.5M (illiquid for 4-6 years)
  • Total Founder Proceeds: $15.3M ($8.8M liquid + $6.5M illiquid)

Strategic Buyer Scenario (All-Cash):

  • Exit Valuation: $750M (mid-point of $625M-$1B range)
  • Total Liquidation Preferences: $80M
  • Cash Consideration: 100%
  • Founder Ownership Post-Dilution: 12%
  • Founder Proceeds: ($750M - $80M) x 0.12 = $80.4M (fully liquid)

Optimizing Your NYC Exit: Strategic vs Financial Buyer Decision Framework

Choose Financial Buyers (PE/Growth Equity) When:

  • You want to stay involved: PE firms typically retain founder as CEO for 2-4 years with significant equity upside in recap
  • You're near-profitable: PE pays premium multiples for EBITDA-positive companies; strategic buyers less sensitive to profitability
  • You want two bites of apple: Initial exit at 12-15x EBITDA, then second exit at 15-20x EBITDA 4-6 years later doubles founder proceeds
  • Your market position is defensible: PE focuses on market leaders with durable moats; strategic buyers pay premium for fast-followers too
  • You're building for long term: PE partners for 5-7 year value creation vs strategic buyer immediate integration

Choose Strategic Buyers When:

  • You want full liquidity: All-cash deals at 100% liquidity vs PE's 60-80% cash + 20-40% rollover
  • You're growing >50% YoY: Strategics pay premium for high growth; PE discounts pre-profitable hypergrowth
  • You have clear strategic fit: Product integrates into acquirer's platform, distribution, or customer base
  • You want to exit fully: Most strategic deals allow founder exit after 12-18 month earn-out vs PE's 4-6 year hold period
  • You're building competitive threat: Defensive acquisitions command 50-100% strategic premium

Maximizing Your NYC Exit Valuation: Tactical Playbook

Build Relationships With PE Firms 18-24 Months Before Exit

NYC PE Landscape: Focus on sector-specific PE firms with track records in your category. Top NYC fintech PE firms: Warburg Pincus, General Atlantic, TA Associates, Thoma Bravo (software). E-commerce PE: L Catterton, Bain Capital, TPG.

Relationship Building Tactics:

  • Attend PE-hosted "CEO summits" for portfolio companies 18 months before exit window
  • Request PE firm introductions from your VC investors (most VCs co-invest with PE in growth rounds)
  • Publish thought leadership in PE-focused media (PE Hub, Pitchbook, Private Equity International)
  • Join peer CEO groups hosted by PE firms (typically 10-15 CEOs in similar stage/sector)

Optimize for PE-Focused Metrics 12 Months Before Exit

Critical PE Metrics:

  • EBITDA Margin Expansion: PE firms model 5-10% annual EBITDA margin expansion. Demonstrate margin leverage by reducing S&M efficiency ratio and scaling G&A slower than revenue.
  • Customer Concentration Reduction: PE heavily discounts valuations if top 10 customers represent >30% revenue. Diversify customer base 12-18 months before exit.
  • Recurring Revenue Mix: Increase recurring revenue to >70% of total revenue. PE pays 2-3x higher multiples for recurring vs transactional revenue.
  • Unit Economics Improvement: Drive LTV/CAC from 3x to 4-5x by extending customer lifetime and reducing CAC. PE models 20-30% CAC reduction post-acquisition.

Create Competitive Tension Between PE and Strategic Buyers

Dual-Track Process: Run parallel processes with 2-3 PE firms and 2-3 strategic buyers simultaneously. Use PE offers as floor for strategic negotiations; use strategic term sheets to pressure PE on valuation and structure.

Timing Optimization:

  • Q1 (Jan-Mar): Best timing for PE exits as firms deploy committed capital from recent fund raises
  • Q4 (Oct-Dec): Strategic acquirers finalize annual M&A budgets and seek to deploy before year-end
  • Avoid Aug-Sep: PE partners on vacation; deal velocity drops 40% in late summer

Common NYC Exit Valuation Mistakes

Mistake 1: Ignoring EBITDA Requirements for PE Buyers

Problem: Pre-EBITDA companies pitch PE firms expecting revenue multiples comparable to strategic M&A; PE applies 40-60% discount to unprofitable companies.

Solution: If pre-EBITDA, focus exclusively on strategic buyer track. Only engage PE/growth equity if you can demonstrate clear path to EBITDA profitability within 12 months with realistic assumptions.

Mistake 2: Underestimating Rollover Equity Illiquidity in PE Deals

Problem: Founders accept 70% cash / 30% rollover PE deal without modeling that rollover equity is illiquid for 5-7 years and subject to PE fund performance risk.

Solution: Discount rollover equity by 30-50% for liquidity and risk when comparing PE vs strategic offers. $100M PE offer (70% cash) is economically equivalent to $75-85M all-cash strategic offer.

Mistake 3: Failing to Model Customer Concentration Impact on PE Valuations

Problem: Company with 40% revenue from top 3 customers receives PE offer 30-40% below expectations due to concentration risk.

Solution: Begin diversifying customer base 18-24 months before exit. PE firms target <20% revenue from top 10 customers. Every 5% reduction in concentration adds 3-5% to valuation.

Mistake 4: Misunderstanding Strategic Fit Premium

Problem: Founders assume all strategic buyers pay 30-50% premium; reality is premium only applies when acquirer has clear, articulable strategic rationale.

Solution: Qualify strategic fit before investing time in strategic buyer process. Ask: Does your product integrate into their platform? Do you serve their customer base? Are you a competitive threat? If no to all three, strategic premium unlikely.

NYC Exit Calculator: Ready-to-Use Valuation Framework

Financial Buyer (PE/Growth Equity) Valuation Calculator

Step 1: Calculate adjusted EBITDA: $________ M

Step 2: Select base EBITDA multiple for your sector:

  • Fintech SaaS: 10-14x EBITDA
  • E-Commerce: 8-12x EBITDA
  • Marketplace: 10-14x EBITDA
  • Media Tech: 8-12x EBITDA

Step 3: Apply growth adjustment:

  • Growth >40%: Add 3-4x to base multiple
  • Growth 25-40%: Add 1-2x to base multiple
  • Growth <25%: No adjustment

Step 4: Apply margin adjustment:

  • EBITDA margin >30%: Add 2-3x to base multiple
  • EBITDA margin 20-30%: Add 1x to base multiple
  • EBITDA margin <20%: No adjustment

Step 5: Calculate exit valuation:

PE Exit Valuation = Adjusted EBITDA x (Base Multiple + Growth Premium + Margin Premium)

Step 6: Model founder proceeds with rollover:

  • Assume 70% cash / 30% rollover structure (typical PE deal)
  • Subtract liquidation preferences from cash portion only
  • Discount rollover equity by 40% for illiquidity risk

Net Founder Proceeds = [(Exit Value x 0.7 - Liquidation Prefs) x Ownership %] + [(Exit Value x 0.3 x Ownership %) x 0.6]

Strategic Buyer Valuation Calculator

Step 1: Input current ARR or revenue: $________ M

Step 2: Select sector base multiple:

  • Fintech: 8-12x ARR
  • DTC E-Commerce: 1-3x revenue
  • Marketplace: 3-5x GMV or 10-15x net revenue
  • Media/Content: 4-8x revenue

Step 3: Apply strategic fit premium:

  • Platform integration path: Add 30-40%
  • Overlapping customers: Add 20-30%
  • Defensive acquisition: Add 50-100%
  • Regulatory/licensing advantage: Add 20-30%

Step 4: Calculate strategic exit valuation:

Strategic Exit = (ARR or Revenue) x Base Multiple x (1 + Strategic Premium %)

Step 5: Calculate founder proceeds (all-cash):

Founder Proceeds = (Exit Valuation - Liquidation Preferences) x Founder Ownership %

Resources and Tools for NYC Exit Planning

NYC-Specific Exit Resources

NYC M&A Advisory and Investment Banks

  • Mid-Market M&A ($50M-$500M): Moelis, Jefferies, William Blair, Raymond James
  • Large-Cap M&A (>$500M): Goldman Sachs, JPMorgan, Morgan Stanley, Evercore
  • Fintech-Focused: FT Partners, Houlihan Lokey Financial Services Group
  • E-Commerce/Consumer: LUMA Partners, GP Bullhound, Lincoln International

Frequently Asked Questions: NYC Exit Valuations

What is the difference between strategic and financial buyer valuations in NYC?

Strategic buyers (corporate acquirers) typically pay 20-40% premium to financial buyers (PE/growth equity) in NYC for companies with clear strategic fit. Strategic buyers use revenue or ARR multiples (8-12x ARR for fintech) while financial buyers use EBITDA multiples (10-14x EBITDA). Financial buyer deals involve 60-80% cash and 20-40% rollover equity, while strategic deals are typically 100% cash. For example, a $50M ARR fintech company might receive a $400M strategic offer (8x ARR, all cash) vs a $300M PE offer (12x $25M EBITDA, with 70% cash / 30% rollover).

How do NYC fintech exit multiples compare to Silicon Valley?

NYC fintech companies command exit multiples 10-20% below Silicon Valley due to higher concentration of financial buyers (PE firms) vs strategic acquirers in NYC. NYC fintech medians: 8-12x ARR for B2B fintech SaaS vs Silicon Valley's 10-15x ARR. However, NYC payment and banking infrastructure companies with Wall Street strategic fit can exceed valley multiples when acquired by banks or card networks. For example, Plaid's $5.3B Visa offer (35x revenue) was driven by NYC-centric financial services strategic value.

Should I target PE or strategic buyers for my NYC exit?

Target PE buyers if you're EBITDA-profitable or within 12 months of profitability, have >$30M ARR, want to stay involved as CEO for 2-4 years, and are building a defensible market leadership position. Target strategic buyers if you're growing >50% YoY, have clear platform integration with an acquirer, want full liquidity (100% cash vs 70% cash), and prefer to exit within 12-18 months. Run dual-track process with both PE and strategic buyers to create competitive tension and maximize valuation.

How does rollover equity in PE deals affect my exit proceeds?

PE deals typically require founders to roll 20-40% of exit proceeds into the PE-owned entity for upside in the next exit (called "second bite of apple"). Rollover equity is illiquid for 5-7 years until PE exits the company, and is subject to PE fund performance risk. When comparing offers, discount rollover equity by 30-50% for illiquidity: a $100M PE offer with 70% cash / 30% rollover is economically equivalent to $75-85M all-cash strategic offer. However, if PE successfully executes on value creation plan, rollover equity can 2-3x in value at second exit.

What EBITDA margin do I need for a PE exit in NYC?

NYC PE firms target companies with 15-25% EBITDA margins or clear path to those margins within 12-18 months post-acquisition. Companies with <10% EBITDA margins face 30-50% valuation discounts vs 20%+ margin peers. Focus on EBITDA margin expansion 12-18 months before exit: reduce sales efficiency ratio (S&M as % of revenue), scale G&A slower than revenue growth, and improve gross margins through pricing power and COGS optimization. Every 5% improvement in EBITDA margin adds 1-2x to your EBITDA multiple.

Next Steps: Plan Your NYC Exit Strategy

NYC exits require early strategic decisions on PE vs strategic buyer paths, given the distinct valuation methodologies and deal structures. Model both scenarios today, then optimize your metrics for your target buyer profile 12-18 months before entering the market.

Immediate action items:

  1. Calculate both PE (EBITDA-based) and strategic (revenue-based) exit valuations using the frameworks above
  2. Model founder proceeds accounting for liquidation preferences and PE rollover equity requirements
  3. Assess strategic fit with 3-5 potential corporate acquirers; qualify PE path by calculating current and projected EBITDA
  4. Build relationships with target PE firms 18-24 months before exit through VC introductions and CEO peer groups
  5. Optimize for target buyer metrics: EBITDA margin expansion for PE, growth acceleration and strategic positioning for corporate buyers

Ready to model your NYC exit scenarios? Use the ICanPitch Exit Calculator to compare PE vs strategic exit values, model rollover equity scenarios, and calculate founder proceeds net of liquidation preferences. The calculator includes NYC-specific multiples for fintech, e-commerce, and media tech sectors.

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NYC exits
fintech valuation
New York M&A
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financial buyer
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