Simply Business
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How to Build a Business Worth $400M (ft. Tobi Pearce)

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In this episode I sit down with Tobi Pearce, co-founder of Sweat, one of the worlds most successful fitness apps, which went on to sell in a deal valued over $400M.

But this isn’t a conversation about headlines. It’s a deep dive into what actually creates business value and why most founders misunderstand what an “exit” really means.

From scaling Sweat in just a few years to deliberately designing a business to be sellable, Tobi breaks down the strategic decisions behind building an asset… not just an income.

Inside this episode:

  • Why most business exits are inefficient, overhyped, or poorly structured
  • How to design your business to become a valuable, sellable asset
  • The truth about valuations (and why they can swing dramatically)
  • Why subscription models, structure, and risk reduction increase value
  • The difference between owning, investing in, and acquiring businesses
  • What founders get wrong about cash flow vs. capital growth
  • Why selling your business doesn’t always create the lifestyle you expect 

If you’re building a business and thinking about long-term wealth (not just short-term revenue) this episode will change how you approach growth, strategy, and exits.

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