Ep. 16 The Pivot

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.