Entrepreneurship through acquisition
Think big. Buy small. Build on what works.
Binarei is an operator-led search to acquire one established, cash-generating business and lead it personally. Led by former startup founder and Twilio product leader Chris Tan, it pairs hands-on operating discipline with a product leader’s rigor on pricing, systems and customer value.
- $10–16M
- Target enterprise value
- $1.5M+
- Target EBITDA at entry
- 5+ yrs
- Operating history, consistently profitable
Acquisition focus
A thesis-driven search, refined with every conversation.
Rather than betting on a sector, the search starts from the characteristics that make small businesses resilient, then narrows systematically toward the industries where those characteristics concentrate.
- Durable economics
- Five-plus years of operating history, stable or growing EBITDA, and a high share of recurring or repeat revenue. Fragmented customer base with no single account dominating.
- Essential, unglamorous demand
- Services customers need regardless of the cycle: maintenance, compliance, B2B and specialty services where switching costs and reputation create a natural moat.
- Transaction size
- Enterprise value of approximately $10M to $16M, structured with a combination of investor equity, senior debt and, where it aligns interests, seller participation.
- A clear operating thesis
- Room to create value through pricing discipline, systems and process, and focused commercial execution, without disrupting what customers already trust.
Value creation
Preserve what works. Professionalize what scales.
Continuity first
A deliberate transition alongside the seller and existing team. The first months are for listening, earning trust and understanding why customers stay.
Pricing & commercial discipline
Most small businesses underprice their value. Chris has done this at scale: a single pricing redesign lifted Twilio Studio revenue by 60%.
Systems that compound
Pragmatic technology and process improvements that free up the team, sharpen reporting and support steady, financeable growth.
About Chris
A founder’s instincts, an operator’s discipline
Chris Tan has spent a decade building and monetizing software businesses, as a venture-backed founder and as a product leader inside high-growth companies. His experience also includes co-developing a patent.
Most recently, he was Principal Product Manager for Twilio Studio, a workflow automation platform serving over 20,000 active customer accounts. He introduced a pricing change that increased Studio revenue by 60%.
Previously, Chris was the first product manager at Very Good Security and led SaaS and managed services initiatives at Armory, whose assets were later acquired by Harness. He also co-founded ConstructVR as CEO and is a Y Combinator W16 alum.
Binarei is his return to entrepreneurship: buying a proven business rather than starting from zero, and leading it as a hands-on operator.
Connect
Good acquisitions start with good conversations.
If any of these describe you, reach out. There’s no wrong reason to get in touch, and every conversation stays confidential.
Investors
You back operator-led acquisitions and want to discuss the search, investment opportunities or an operating thesis, even before a deal is in hand.
Owners
You’ve built something lasting and are thinking about succession: a confidential conversation on timing, legacy and what comes next.
Brokers & advisors
You represent businesses that fit the criteria above, or adjacent ones. Chris will respond promptly with a clear view on fit and next steps.
Operators & lenders
You’ve run, financed or advised small businesses and have hard-won lessons to share. Always glad to learn.