In/Organic Podcast

Most scaled independents looked at Grapevine.ai during the sale process and didn't get it. They couldn't process the economic model. They didn't know how to assess the technology. Justin Hayashi leaned in and won.Recorded at Possible 2026 in the Unplugged Collective pavilion, Christian Hassold and Ayelet Shipley sat down with Justin Hayashi, CEO of NewEngen, one of the most tech-forward independents in the market to break down how he thinks about acquisitions, what makes NewEngen genuinely different from its peers, and what he's looking for next.NewEngen started in 2016 as a tech company trying to dethrone Marin Software, among others. It evolved into the agency their clients always said they were and built a platform around content, creator marketing, and measurement that most of their competitors can't replicate.What we cover: The origin story; from Zulily's IPO to trying to build a bidding algorithm to accidentally building an agency, how three acquisitions in the content and creator space shaped NewEngen's differentiated positioning, the Grapevine.ai deal thesis and why beating an aggressive forecast during diligence was the final proof of conviction, how NewEngen handles integration with a "do no harm" philosophy while keeping brands like Donut Studios intentionally separate, and the buy box for what comes next: social, content, measurement, and commerce.⏱️ TIMESTAMPS00:12: Cold open: does the YC target on agency backs keep you up at night?1:08: Welcome and guest intro: Justin Hayashi, CEO of NewEngen, at Possible 20261:19: The backstory: from Zulily IPO and billion-dollar sale to Qurate, to founding NewEngen2:25: The original thesis: dethrone Marin Software and Kenshoo — and why it didn't work3:58: The pivot: from SaaS company (that clients kept calling an agency) to what NewEngen is today4:28: Tech-enabled DNA: what survived the pivot and what defines NewEngen now5:54: What scaled independents are getting wrong — and where NewEngen differentiates6:45: Three acquisitions in the content and creator space: why content was always the bet7:23: The Grapevine.ai deal: why most scaled independents walked away and NewEngen stepped up8:04: Why Caroline's conviction and operator mindset won the first filter9:00: 900 vetted, high-performing creators vs. seven million claims — the quality argument10:29: Two lenses: founder CEO conviction vs. PE underwriting — how Justin navigated both11:06: The aggressive forecast, the bottoms-up conviction, and what actually happened11:30: Zuckerberg's earnings calls as diligence data: short-form video growth 20% → 30% YoY12:43: What made Grapevine.ai hard for strategic buyers: long-tail revenue and small contracts13:37: How Caroline's client migration story played out in real time during diligence15:19: Donut Digital acquisition: "do no harm" integration and why they kept the brand16:45: LT Partners vs. Acorn Influence vs. Donut Studios: three different integration approaches17:57: The hardest integration lesson: get alignment on goalposts before you close18:59: Buy box: social/content, measurement, commerce, B2C only, $3-12M revenue sweet spot21:02: Closing take: NewEngen is the software-led agency ready to take on Silicon Valley🎙️ Guest: Justin Hayashi, CEO, NewEngen | Recorded at Possible 2026https://www.linkedin.com/in/justinhayashi/Connect with Christian and AyeletAyelet’s LinkedIn: https://www.linkedin.com/in/ayelet-shipley-b16330149/Christian's LinkedIn: https://www.linkedin.com/in/hassold/Web: https://www.inorganicpodcast.co🔔 Subscribe for weekly M&A and agency coverage on In/Organic

iHeart to start a B2B podcast network — read the signal7:50 — Podcast agencies are still priced like services businesses, not talent factories8:50 — The valuation gap: no shared yardstick for IP and franchise value before it's commercialized9:20 — MARC: building the FICO score for franchise value — Ayelet's startup to watch9:52 — The data problem: YouTube gives real analytics, Apple and Spotify give nothing10:51 — The tech layer underneath the smaller podcast agencies — why it matters for buyers11:45 — AI tuck-in: Coupa acquires Tonkean — Israeli agentic intake and orchestration platform12:18 — Israel continues to dominate enterprise AI tuck-ins13:35 — Solstice raises $21M Series A — AI-native pharma marketing agency, content from months to 10 days14:20 — InstaAgent: out of Alchemist + YC P26, agent swarm coordination for paid social15:15 — Connecting the dots: Solstice and InstaAgent are the venture-stage version of the Silicon Valley targeting agencies thesis16:15 — Advice for corp dev teams at Power Digital, PMG, Stanza: track early stage now17:04 — What's next: episode 67 with Justin Hayashi of New Engine, and M&A Source conference panel🔔 Subscribe so you don't miss the big announcementConnect with Christian and AyeletAyelet’s LinkedIn: https://www.linkedin.com/in/ayelet-shipley-b16330149/Christian's LinkedIn: https://www.linkedin.com/in/hassold/Web: https://www.inorganicpodcast.co

Podean just closed their fourth acquisition in nine months. Travis Johnson is hinting at a fifth. Mountain Gate's strategic roadmap had six puzzle pieces. Four are filled. Two more to go.This is what a PE-backed independent agency rollup looks like when it's working.Travis Johnson — CEO and co-founder of Podean, the largest independent global marketplace-focused agency — is back on In/Organic to walk through the full acquisition path: what each deal was designed to solve, how they've learned to lead with culture before due diligence, why they stopped taking cold calls and built a one-pager instead, and what's still missing from the platform.At roughly 400 people and growing toward 500, managing $600-700M in retail media spend and driving approximately $5-6B in client sales — Podean may be the most acquisitive independent agency in the US right now. And they're not done.What we cover: The rationale behind each of the four acquisitions — Commerce Canal, AdAdvance, AdMerge, and CartBloom — why Walmart is growing faster than Amazon and CartBloom fills that gap, the hard lesson of spending six months on a deal that fell apart on culture, how Mountain Gate runs the identification process while Podean runs the relationship, the one-pager filter that stops time-wasting calls before they start, and what the next acquisition is probably going to be.⏱️ TIMESTAMPS0:26 — Welcome back and a quick apology to the 2,180 YouTube subscribers1:23 — Travis Johnson reintroduction: Podean, Mountain Gate backing, four deals in nine months2:44 — Quick refresh: the four acquisitions — Commerce Canal, AdAdvance, AdMerge, CartBloom3:37 — Podean's strategic thesis: end-to-end, global, social commerce, retail management4:15 — Breaking down each acquisition: what did it add?4:43 — Commerce Canal: retail operations depth, logistics, apparel vertical, New York office5:55 — AdAdvance: media-only depth, Amazon relationships, Streamline tech platform7:30 — AdMerge: two-thirds ex-Amazon team, global footprint now 21 countries, EmergeView and Emerge Engine9:30 — CartBloom: ex-Amazon, ex-Walmart founders, specialist Walmart depth in the fastest-growing retail media platform10:32 — Deal process breakdown: three proprietary, one banker-run (AdMerge)11:20 — What's still missing: social commerce globally and AI-native tech12:14 — TikTok Shop growing globally — Ireland, Europe, US numbers keep rising12:43 — Tech consolidation: from 6 tech people to 30, building AI-native unified platform14:08 — 400+ headcount, $600-700M retail media spend, $5-6B in client sales15:35 — "Just drop Codex on the file system and tell it to fix everything"16:13 — Advice for smaller agencies: don't get distracted, run a solid business first17:00 — The hard lesson: six months on a deal that fell apart on culture fit18:02 — Lead with culture first, numbers second — the pivot that changed their process18:25 — What taking PE money actually means: "You're about to sprint faster than you've ever sprinted"19:30 — Integration is hard: HR platforms, titles, tools, ways of working all different20:04 — Mountain Gate's role: strategic roadmap session, identification, deal sourcing20:38 — Six puzzle pieces. Four filled. Two more to go.22:13 — The one-pager filter: how to triage inbound without wasting time24:00 — Number five is coming. Give the exclusive to In/Organic, not AdAge.🎙️ Guest: Travis Johnson, CEO & Co-Founder, Podeanhttps://www.linkedin.com/in/travis-johnson77/Connect with Christian and AyeletAyelet’s LinkedIn: https://www.linkedin.com/in/ayelet-shipley-b16330149/Christian's LinkedIn: https://www.linkedin.com/in/hassold/Web: https://www.inorganicpodcast.co🔔 Subscribe — we'll have acquisition #5 when it drops💬 Drop your guesses on the next Podean deal in the comments

Most AI acquisitions add a layer. This one removed a layer — for everyone else.Anthropic acquired Stainless, the developer tools company that built SDKs for OpenAI, Google, Cloudflare, Perplexity, and dozens of other AI and fintech platforms. Then they wound down all hosted Stainless products. The shared supplier is no longer neutral. The tollbooth just changed hands.Christian and Ayelet break down what happened, why it matters for every agency and AI startup in the market, and what the KPMG Q1 2026 M&A data actually says about where deal activity is heading.One deal. One market update. Fifteen minutes. (Plus some Riverside FM chaos.)TIMESTAMPS0:00 — Welcome back, noisy week, Publicis/LiveRamp hangover0:45 — KPMG Q1 2026 M&A report: deal values up 88.3% to $446B, deal count down2:30 — Strategic vs. PE deal activity: 864 strategic, 495 PE in Q1 20263:23 — Advertising sector: 145 deals in Q1 2026, flat to slightly up4:00 — Why Christian is predicting a Q2 uptick in strategic activity4:42 — The deals happening behind closed doors that don't show in the data5:01 — Deal: Anthropic acquires Stainless — $300M+ for the SDK plumbing of the AI industry5:45 — What Stainless actually does: API specs into ready-to-use SDKs across languages6:10 — The competitive denial angle: Stainless built SDKs for OpenAI, Google, Cloudflare, Perplexity6:30 — What "winding down hosted products" actually means for Stainless customers7:44 — Deal terms: $300M+ reported, ~2x the December 2024 Series A valuation of $150M8:00 — Anthropic's acquisition pattern: Wunderkind, Intercepted, Coefficient Bio, now Stainless9:00 — The through line: small specialized teams making Claude better — except Stainless is different9:16 — If you're a shared supplier to competing platforms, you are an acquisition target10:03 — Why this matters for every agency and commerce business building on AI10:30 — The MCP angle: Model Context Protocol and why connectivity is the next battleground12:29 — Why Anthropic investing in Stainless is probably also an aggressive MCP build13:46 — The AI exit multiple conversation: how the timeline is compressing14:25 — Grapevine AI / New Engine: outsized early exit with real AI capability15:05 — "Capture the flag" — why traditional grow-then-sell timelines no longer apply15:21 — Wrap, Memorial Day wishes, and please someone recommend an alternative to RiversideLink to the KPMG report: https://kpmg.com/us/en/articles/mergers-acquisitions-trends-tech-media-telecom.html🔔 Live every Friday — subscribe so you don't miss the big announcement💬 Drop your guesses on the mystery buyer in the commentsConnect with Christian and AyeletAyelet’s LinkedIn: https://www.linkedin.com/in/ayelet-shipley-b16330149/Christian's LinkedIn: https://www.linkedin.com/in/hassold/Web: https://www.inorganicpodcast.co

Publicis dropped a bomb on Sunday. By Monday, LinkedIn was on fire. Christian, co-host of the In/organic Podcast pulled together two of the sharpest voices in commerce and media to break down what this deal actually means — beyond the press release.Joining In/Organic for this special episode: Ari Paparo, 20-year ad tech veteran, host of the Marketecture podcast, and author of Yield: How Google Bought, Built and Bullied Its Way to Advertising Dominance — and Peter (PVSB) Bond, co-host of the CPG Guys podcast (closing in on episode 600) and Head of Industry and Client Engagement at Flywheel, the commerce acceleration division of Omnicom.This is the one episode this week you can't skip.What we cover: Is this really an agentic AI story or is that just the packaging? Why LiveRamp's client count is already down from 940 to 800 — and what happens next. Why Omnicom, WPP, and every other holdco is immediately accelerating their own identity builds. The three distinct assets inside LiveRamp and which one actually matters. Why Amazon Marketing Cloud is the elephant in the clean room conversation. What independent agencies and lower middle market ad tech players should actually do in response. And who the M&A targets are for anyone not named Publicis.Timestamps0:00 — Breaking news: Publicis announces plan to acquire LiveRamp1:58 — Deal terms: $2.5B total EV, $2.16B net of cash, 2.8x revenue2:45 — Guest intros: Ari Paparo (Marketecture) and Peter Bond (CPG Guys / Flywheel)4:00 — The backstory: IPG acquired Acxiom in 2018 but deliberately excluded LiveRamp5:30 — Is this an agentic AI story? Ari's honest take7:30 — The agent execution problem: why data rails matter as much as intelligence8:43 — The MCP angle: data as enabler vs. data as action9:32 — Data supremacy and the holdco war — Peter's perspective11:00 — LiveRamp client attrition: 940 → 800 and Horizon already looking to exit11:35 — Auren Hoffman's forlorn X post and what's buried in it12:28 — What does WPP, Omnicom, and every other holdco do now?13:18 — Publicis's track record: Epsilon, Citrus Ad, Sapient — and whether Profiteur was worth it14:55 — Breaking down LiveRamp's three assets: Ramp ID, clean room (Habu), and onboarding16:30 — WPP acquired Infosum. Omnicom has Acxiom/Real ID. Who's missing what?17:38 — Amazon Marketing Cloud owns 75% of retail media ad dollars — what does that leave LiveRamp?19:33 — Benoit from Liquid Death: "Not having a clean room strategy in 2026 is malfeasance"20:35 — What this means for independent agencies and lower middle market ad tech players22:21 — LiveRamp as a natural monopoly — and why competitors now have a real window23:35 — The Flywheel parallel: neutrality ends the moment you're inside a holdco25:48 — M&A targets for the corps dev teams at PMG, Horizon, and the super-independents27:16 — The Trade Desk's UID2: worth billions as a standalone, invisible inside the DSP27:36 — The financial model of holdcos is fundamentally transforming — Peter's closing argument29:12 — Ari's final shout-out: Optimal as the leading independent clean room target🎙️ Guests: Ari Paparo (Marketecture) and Peter Bond (CPG Guys / Flywheel / Omnicom)https://www.linkedin.com/in/aripaparo/https://www.linkedin.com/in/pvsbond/🔔 Subscribe for weekly M&A and ad tech coverage on In/Organicwww.inorganicpodcast.co💬 Drop your takes on the Publicis/LiveRamp deal in the comments

The Accenture agency acquisition is still in progress. Five AI tuck-ins closed this week across fintech, crypto, process mining, hardware, and spend management. And three deals that tell you everything about where the lower middle market is heading right now.Christian and Ayelet are back for Deal Review Friday — and this one is packed.Three deals. Five AI tuck-ins. One major tease still in progress. Running a little over 15 minutes. Worth it.⏱️ TIMESTAMPS0:00 — Welcome, May 15th 2026, and what's on the agenda0:45 — Accenture update: deal still in progress, silence is golden1:42 — AI tuck-in #1: Carta acquires Avantia — AI-native legal services + UK international play3:47 — AI tuck-in #2: MoonPay acquires Dawn Labs — autonomous AI trading agents5:38 — AI tuck-in #3: Celonis acquires Ikigai Labs — MIT spin-out, AI professor joins as chief scientist7:30 — AI tuck-in #4: Nominal acquires Fid Labs — AI agents connecting to dev environments and physical hardware8:20 — AI tuck-in #5: Coupa acquires Rossum — document ingestion layer completes source-to-pay stack8:39 — Deal #1: Brands at Work acquires Chorus — two London independents bet on integrated model9:45 — Why experiential has shifted from discretionary to core marketing strategy11:53 — Two independents, no banker, no PE: why this deal is worth celebrating13:05 — Deal #2: Smartly finalizes acquisition of INCRMNTAL — LOI to close in 7 weeks13:30 — What INCRMNTAL actually does and why Smartly needed it15:26 — Smartly manages $7B in media spend — and now has the measurement layer to match16:00 — Props to the INCRMNTAL founders and Smartly's Head of Corp Dev17:16 — Deal #3: OpAd Media acquires Broad Agency — two women-owned independents join forces18:30 — How Carrie Kerpen brought the two teams together at dinner19:30 — Ayelet was at the table when it happened20:30 — Same theme as Brands at Work / Chorus: independents on their own terms21:01 — Girl dinner confirmed. Christian not invited.21:57 — Wrap + episode 60 reminder🔔 Live every Friday — subscribe so you don't miss the big announcement💬 Drop your guesses on the mystery buyer in the commentsConnect with Christian and AyeletAyelet’s LinkedIn: https://www.linkedin.com/in/ayelet-shipley-b16330149/Christian's LinkedIn: https://www.linkedin.com/in/hassold/Web: https://www.inorganicpodcast.co

We've been saying one of the big strategics was going to move on a scaled independent agency. It's happening.Christian and Ayelet are back for Deal Review Friday with breaking news on an imminent Accenture acquisition, two lower middle market deals that tell you exactly what the current M&A environment looks like, and what all of this means for the scaled independents that were planning to go to market in 2027 or 2028.The dam is breaking. Here's what you need to know.⏱️ TIMESTAMPS0:00 — Cinco de Mayo, Salsify's Digital Shelf Summit, and puppies1:53 — 🚨 Breaking news: Accenture is imminently closing a ~$500M US agency acquisition2:27 — The backstory: E52's Clay analysis and Accenture's $3B AI deployment plan3:15 — What we know, what we're not saying yet, and why this is step two of a multi-step plan4:43 — Why this deal will push Tata and others to move faster5:30 — The forcing function effect: scaled independents planning 2027-28 exits may move sooner5:56 — Why bilateral deal making is rising and what Accenture's move does to auction dynamics6:45 — Deal #1: Recharge acquires Skio — $105M cash, 3.3x ARR, direct competitor consolidation8:08 — What this multiple tells you about SaaS M&A right now8:35 — The COO announced the price on X — and why that's hilarious9:17 — Shopify ecosystem turbulence and what it means for this deal10:14 — Capital efficiency: Skio raised $4-8M and sold for $105M11:05 — Deal #2: IREN acquires Mirantis — $625M all-stock, AI infrastructure play11:30 — What Mirantis actually does and why NVIDIA is at the center of this13:27 — The NVIDIA deal sequence: founding partner in March, $3.4B contract, $2.1B investment14:30 — Why the timing of these events tells the real M&A story15:44 — 27 years to a $625M exit — what the AI era does for legacy infrastructure companies16:04 — Wrap: ep 60 with Brenda Jacobsen dropped, Salsify content coming🔔 Live every Friday — subscribe so you don't miss the big announcement💬 Drop your guesses on the mystery buyer in the commentsConnect with Christian and AyeletAyelet’s LinkedIn: https://www.linkedin.com/in/ayelet-shipley-b16330149/Christian's LinkedIn: https://www.linkedin.com/in/hassold/

What does it really take to sell your business — and are you actually ready?In this episode of the InOrganic Podcast, we sit down with Brenda Jacobsen, Managing Director at STS Capital Partners, a sell-side M&A advisory firm focused on helping founders and operators find the right strategic buyer — not just the highest bidder. What makes Brenda unique? She's not a banker by training. She's a former operator who built and sold three companies herself, including a regional network of medical clinics and a corporate mindfulness media company. She's been on your side of the table.Brenda walks us through the full arc of what it means to navigate a business exit — from the first internal conversation with your co-founders, to closing day, and everything in between.In this episode, we cover:🧠 Why most partner misalignments happen before you ever talk to a banker📋 The "Owner's Outcome Exercise" — a simple framework to get founders aligned on what success actually looks like⏰ When to start having exit conversations (hint: it's earlier than you think)📉 How to read the hidden clauses in your equity docs that could cost you control of your exit💰 Current M&A valuation ranges for digital marketing agencies (3–6x EBITDA) and what moves the needle🤖 Why you need to stop "BS-ing your AI story" — and what buyers actually want to see🏥 A fascinating case study on data ownership in outsourced radiology and why it changed the deal conversation entirely👻 How phantom equity can keep your key operators invested all the way through close❤️ The emotional side of selling — and how the right sell-side advisor acts less like a banker and more like a witnessWhether you're planning to sell in 12 months or 12 years, this conversation is packed with practical, honest advice from someone who has lived both sides of the deal table.Connect with Christian and AyeletAyelet’s LinkedIn: https://www.linkedin.com/in/ayelet-shipley-b16330149/Christian's LinkedIn: https://www.linkedin.com/in/hassold/Web: https://www.inorganicpodcast.co🎙️ Guest: Brenda Jacobsen, Managing Director, STS Capital Partners🌐 Learn more about STS Capital: www.stscapital.com📌 Subscribe to the InOrganic Podcast for weekly conversations on M&A, growth, and building businesses worth buying.#MergersAndAcquisitions #BusinessExit #Entrepreneurship #SellYourBusiness #PrivateEquity #MiddleMarket #MAStrategy #BusinessGrowth #Founders #InOrganicPodcast