About this Episode
Andrew Yang had built Manhattan GMAT into an $11 million business when Kaplan Test Prep, an 800-pound gorilla in the education business, threatened legal action against his company.
Rather than react defensively, Yang sought to build a relationship with Kaplan executives, who would eventually go on to buy Manhattan GMAT for more than 8 times EBITDA.
To see how Yang turned a potential crisis into a clean offer of more than 8 times EBITDA.
About our guest
Andrew Yang is the Founder and CEO of Venture for America, a fellowship program that places top college graduates in start-ups for two years in emerging U.S. cities to generate job growth and train the next generation of entrepreneurs. Andrew has worked in start-ups and early stage growth companies as a founder or executive for more than twelve years. He was the CEO and President of Manhattan GMAT, a test preparation company that was acquired by The Washington Post/Kaplan in 2009. He has also served as the co-founder of an Internet company and as an executive at a healthcare software start-up. He has appeared on CNN, CNBC, Morning Joe, Fox News, TIME, Techcrunch, the Wall St. Journal, and many other media outlets. Andrew was named a Champion of Change and a Presidential Ambassador for Global Entrepreneurship by the White House for his work with Venture for America