Victory for this Ukraine-based legal software

February 18, 2025
​Read on web​

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In December 2020, AXDRAFT made history as the first Ukrainian legal technology startup to achieve an exit.

Co-founder Yuriy Zaremba described the acquisition as a breakthrough for his company — and the Ukrainian startup ecosystem.

While the sale price of high 7 figures was notable, what was even more interesting was the sale multiple of 14.5x revenue.

A few factors helped this company command such a high multiple:

• They sold in 2020, when SaaS companies were selling for unusually high multiples
• B2B SaaS is highly sought after, especially in a lucrative niche like the legal market
• The buyer approached them, looking for a strategic acquisition​
• Other buyers expressed interest as well, which created a competitive bidding opportunity
• One of their co-founders was an M&A lawyer, though even he was surprised at the level of due diligence considering the size of their company

Here’s our full story:

​In just 3 years, this Ukraine-based legal software exited at 14.5x revenue​

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Behind the business (of TGA)

I'm trying something new this year to grow They Got Acquired: putting a lot more effort into LinkedIn.

My goal is to increase brand visibility and connect with founders who'd like to sell their business in the next year or two.

Here's what I'm experimenting with on the platform:

🔵 Writing more frequently. I post every weekday. Some posts do well, and some flop. But putting in the reps gives me more chances to hit home runs.

Here are a few of my best-performing posts so far. This post went viral, but it was off-topic and didn't drive leads for the business.

🔵 Sharing more photos. Writing is my strength, and it sometimes feels cringe to share photos of myself. But text + images do the best, so I'm pushing outside my comfort zone here. Here are two examples.

🔵 More interaction. I'm commenting more on other people's posts and via DMs. I'm curious whether this sends signals to the algorithm that might help boost my posts, and I also genuinely enjoy getting to know and support others.

🔵 No video. Even though this is the hot new thing on LinkedIn, it's not in my wheelhouse, so I stick to what I'm good at: writing.

🔵 Launching a LinkedIn newsletter. We're trying this as a way to get more eyeballs and more mileage out of stories we've written.

🔵 Using Typefully to write and schedule posts. I've used this tool for years and really like it! The minimalistic interface helps me focus.

This all takes time and effort, but I enjoy the process. I'll report back on how it goes.

👉 Here's my LinkedIn profile if we haven't connected yet. Commenting on my posts is a great way to support TGA!

See you next time,

Lexi Grant
Founder & CEO
​They Got Acquired​