Acquiring MindsJul 27, 20261h 43m2K views

60% Concentration That Killed an Exit | Raj Mahajan Interview

Name: 60% Concentration That Killed an Exit | Raj Mahajan Interview
Uploaded: 2026-07-27
Duration: 1 h 42 min 50 s
Description: Raj Mahajan acquired SuperSalon in 2015 via a search fund and converted it from on-premise software into a cloud-based salon POS business, scaling ARR to $11 million. A planned 2019 sale collapsed when the largest customer announced a competing product; a whistleblower and COVID-era lawsuit followed before a later sale to Zenoti.

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Synopsis

Raj Mahajan acquired SuperSalon in 2015 via a search fund and converted it from on-premise software into a cloud-based salon POS business, scaling ARR to $11 million. A planned 2019 sale collapsed when the largest customer announced a competing product; a whistleblower and COVID-era lawsuit followed before a later sale to Zenoti.

Ideas in this episode

Search-fund small business acquisition
Raj Mahajan acquired SuperSalon in 2015 through a search fund, converting it to a cloud POS and scaling ARR to $11M before customer-concentration and a whistleblower killed a 2019 sale. The business later sold to Zenoti.