Founder Playbook

Mindset
In 2024 things have probably never been better. A lot of companies took their medicine. A lot of really great founders and builders kept their head down and they kept doing exactly what their mission was, which is serving their customers. We are seeing better opportunities and better companies now than we even have in 2021.

2024 is the industry's best year ever — founders who kept their heads down and served customers won

After a brutal 2022–23 correction — over-hiring, wasted marketing spend, and pivots to B2B — the CSS (consumer subscription software) market entered 2024 in stronger shape than the 2021 boom. Companies that survived by staying focused on product and customers emerged with better retention, profitable growth, and higher valuations than the hype cycle ever produced. Crowley's M&A pipeline is fuller than ever as a direct result.


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Eric Crowley
GP BullhoundTech investment banker advising consumer subscription (CSS) M&A — reported on industry rebound in 2024 after 2022–23 correction; helped Flo raise $200M at $1B+ valuation
Sub Club by RevenueCat
The Subscription App Industry Rebound· 3:02
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