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Sven Milder reflecting on startup exit mistakes and $90M lost opportunity.

What Cost Me $90M as a Startup CEO?

May 16, 20252 min read

I built a $10M company…

But it could’ve been $100M.

Let me explain the real reason it didn’t happen and how you can avoid the same mistake.

The #1 mistake that cost me $90 million in 2019.  When I was CEO at Etobee, a last-mile tech enabled logistic company in indonesia, we did great!

The Startup Dream vs. Exit Reality

When I launched my company, I had one goal: build something massive.

We were growing, hiring, getting press.

Everyone told me,

“You’re on track for a $100M valuation.”

And I believed them.

But a few years later…

We exited at $10M.

Still a win but not the game-changer it could’ve been.

And I’ll tell you the brutal truth of why:

I Built for Ego. Not Exit.

I was building what I thought the market wanted.

What looked sexy on TechCrunch.

Big team. Beautiful office.

Product features no one asked for.

I chased cool instead of chasing customers.

Here’s what I ignored:

→ Real demand

→ Acquisition potential

→ Boring, profitable growth

The Lesson: Distribution > Product

The best product doesn’t always win.

The most acquirable one does.

I should’ve focused on:

  1. Building strong revenue lines

  2. Locking in repeatable customers

  3. Creating scarcity in the investor/acquirer market

  4. Keeping costs lean and focus tight

I made money, sure.

But I left $90M on the table… because I wasn’t thinking like a buyer.

What I’d Do Differently Now

If I could go back, I’d build with the exit in mind — from day one.

I’d start with this question:

“Who will want to buy this… and why?”

That changes everything:

→ Product roadmap

→ Capital strategy

→ Hiring plan

→ Even your valuation narrative

Question for you:

Have you ever made a decision that looked smart in the moment — but cost you big later?

At SevenX Syndicate Community, this is exactly how we operate.

We’re not passive investors.

We don’t just bet on potential.

We roll up our sleeves and work side-by-side with the founders we back hunting problems, fixing bottlenecks, and building companies that are built to last.

If you’re raising capital and you're serious about building something real.

We want to hear from you.

Let’s solve bigger problems, together.

Stay Tuned

Sven Milder

start up exit founder mistakes founder 2025startup lessonscapital raising
blog author image

Sven Milder

I'm in love with developing ideas into thriving ventures. As the founder of SevenX Group, I work daily to simplify founders lives by hosting a FAME Community & steering DeeDee.ai an Ai driven matching making platform for founders and investors. I have supported over 300+ Founders with over $240M+ in Funding and acquisitions and I'm thrilled to help you succeed.

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