The ProofCap Blog
Notes on forensic financial verification, SaaS due diligence, and what we're learning from auditing acquisitions.
Buying a SaaS
Buying a SaaS on Acquire.com: How to Vet a Listing
Acquire.com is a top marketplace for buying bootstrapped SaaS — but listings are seller-reported. How buying works, and how to verify a listing before you wire.
Revenue Verification
GA4 vs. Billing Data: What a Revenue Mismatch Means
When GA4 traffic and billing revenue don't line up, it's either a tracking issue, a quirk, or a warning. How to read a GA4 vs. billing mismatch, and when to worry.
Selling a SaaS
Key-Person Risk: The Hidden Discount on Your SaaS Exit
Key-person risk quietly lowers what your SaaS sells for. How founder dependency shows up in a deal, why buyers discount it, and how to reduce it before you exit.
Due Diligence
The SaaS Due Diligence Process, Step by Step
How SaaS due diligence actually unfolds — from LOI to close, stage by stage. The timeline buyers follow, and how founders can prepare for each step.
Due Diligence
Legal Due Diligence for SaaS Acquisitions
Legal due diligence decides whether a SaaS can actually be transferred — and what liabilities come with it. The IP, contract, data-compliance, and cap-table risks buyers check.
Due Diligence
Financial Due Diligence for SaaS: How It Works
Financial due diligence is where a SaaS deal is confirmed or dies. The documents buyers request, the reconciliations that matter, and how they verify revenue is real.
SaaS Valuation
How Much Is My SaaS Worth? How to Estimate It
Wondering how much your SaaS is worth? A simple 4-step way to estimate your valuation from MRR and growth — and why the number you can prove matters most.
Revenue Fraud
Credit-Card Looping: How Faked SaaS Revenue Is Caught
Card looping fakes the charge but not the customer. The forensic fingerprint that exposes looped SaaS revenue — and why a dashboard screenshot hides it completely.
SaaS Valuation
SaaS Valuation Multiples: What Actually Sets Your Number
Two SaaS companies with the same ARR can be worth 3x or 8x. What actually drives your SaaS valuation multiple — and the one factor buyers price only at diligence.
Due Diligence
SaaS Due Diligence Checklist: What Buyers Actually Verify
A complete SaaS due diligence checklist — financial, legal, technical, and the revenue-verification step most lists skip. What buyers actually check before they close.
continuous due diligence
Why Point-in-Time Due Diligence Misses Revenue Risk
Due diligence verifies a single moment — but you close weeks later and own the business for years. Why one-time audits miss the risk that matters.
SaaS Valuation
The Diligence Tax: What Unverified Revenue Costs
Unverifiable revenue quietly lowers your SaaS valuation — in the multiple, the holdback, and the time. The diligence tax you pay even when the numbers are true.
Benford's Law
Benford's Law and Your Stripe Export: When It Works (and When It Lies)
Benford's Law catches fabricated books — but run it on Stripe subscriptions and it flags everyone. When the digit test actually works, and when it lies.
verify SaaS revenue
How to Spot Fake SaaS Revenue: 4 Forensic Signatures
Fake SaaS revenue leaves traces. The four forensic signatures buyers use to catch inflated MRR, bot traffic, and staged growth before they sign.
Honest or faked
Screenshots Have a Half-Life
Screenshots Have a Half-Life: Why Static Revenue Proof Fails Due Diligence
SaaS M&A insights, monthly
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