Tad Fallows Exit Story: Selling iLab for 6x, Choosing Strategic Over PE, and Life After an Eight-Figure Exit

Kyle Winder
Sep 22
2 min read

Discover how Tad Fallows built iLab from Harvard labs to a strategic sale at 6× ARR and navigated life post-exit.

About This Episode

In 2006, Tad Fallows and two friends spotted a problem inside Harvard’s cancer labs: researchers were spending more time managing freezers, fruit flies, and mice than actually doing research.

They built iLab, a SaaS tool for universities and hospitals, bootstrapped it to high–7-figure ARR, and eventually sold to Agilent Technologies for roughly six times revenue.

But the journey wasn’t smooth. Cash was often razor-thin with 75 employees on payroll, and an early inbound offer at 3× ARR forced Tad and his partners to decide: take the deal, or gamble on building more value.

You’ll learn how to:

Turn customer funding into product development—while keeping the IP.
Use add-on modules and international logos to triple your total addressable market.
Push valuation from a “meh” multiple to a life-changing one.
Spot the hidden risks of earn-outs—and why some founders never see the payout.
Protect employees and culture when choosing between PE rollover equity and a strategic all-cash deal.
Face the emotional whiplash of suddenly having “enough” money, yet struggling to stay motivated.
Avoid spoiling your kids after a big liquidity event.
See how thousands of post-exit founders actually invest their wealth—and why most ditch the traditional 60/40 portfolio.

About Our Guest

Tad Fallows

Tad Fallows is Managing Director at Long Angle, Inc., a global peer-led community built for high-net-worth and ultra-high-net-worth individuals seeking a confidential, solicitation-free space to address personal finance, investing, and life transition challenges.

Prior to his work at Long Angle, Tad co-founded iLab Solutions, a software-as-a-service (SaaS) company serving universities and research hospitals, where he led business operations through founding, scaling, and eventual exit.

Tad holds a Bachelor of Arts in American History from Harvard University, graduating Magna Cum Laude.

Definition of Terms

Due-Diligence: This is a comprehensive appraisal of a business or investment undertaken before a merger, acquisition, or investment. It seeks to validate the information provided and uncover any potential risks or liabilities.

Earn-out: This is a financing arrangement for the purchase of a business, where the seller must meet certain performance goals before receiving the full purchase price. It reduces the buyer’s risk and aligns the interests of both parties post-acquisition.

Errors and Omissions Insurance (E&O): This is a form of liability insurance that protects companies and their employees against claims of inadequate or negligent actions, particularly in professional advice and services.

Re-Trading: This occurs when a buyer attempts to renegotiate the purchase price of a deal after initially agreeing to one. It is often seen unfavorably as it occurs after due diligence, seemingly exploiting newly discovered information.