-80%

est. 2Y upside i

FinTechSeries A

Baton is a marketplace for buying and selling small businesses. We guide small business owners through the complex challenge of selling their business. Sellers appreciate how our platform helps them seamlessly go from listing to closing with support from our team whenever they need. Buyers know us for our quality of listings, our innovative features, and our speed to close.

Rank

#3592

Sector

Fintech

Est. Liquidity

~5Y

Data Quality

Data: Low

Baton's equity is highly risky due to low growth, strong competition, and missing data.

Last updated: July 3, 2026

Bull (10%)-5%

Revenue grows slowly to $2.31M, multiple holds at 10x due to market leadership; net of dilution, equity value declines slightly.

Base (40%)-74%

Multiple normalizes to 4x, revenue slow, common value slashed; preference overhang further reduces returns.

Bear (50%)-100%

Exit value below liquidation preference; common stock becomes worthless.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

78%

$15.5M preferred against assumed $20M valuation; preference overhang is 77.5%.

Dilution Risk

high

With $15.5M raised and burn rate, additional funding needed within 2 years.

Secondary Liquidity

none

No known secondary market activity.

Other — 2 roles

View all 2 open roles at Baton →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Baton's data — designed to show you've done your homework.

  • 1

    “How does Baton differentiate from BizBuySell's network effects?”

  • 2

    “What is the path to achieving 20%+ growth given current 7.5%?”

  • 3

    “Given the preference stack, what is the realistic exit value for common shareholders?”

Community

Valuation Sentiment

Our model estimates -80% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.