Baton is a company on a mission to empower small business owners to get paid for their life’s work and make it accessible for anyone to own a small business. Pulse 2.0 interviewed Baton co-founder and CEO Chat Joglekar to gain a deeper understanding of the company.
Chat Joglekar’s Background
What is Chat Joglekar’s background? Joglekar said:
“My time in real estate at Zillow showed me how inefficient and unfair the SMB acquisition space was – it wasn’t easy for everyone to get the data they needed. That experience, plus my time shaking up markets at Google and Spotify, inspired me and Dylan Gans to start Baton. We wanted to give small business owners better ways to sell their businesses.”
Formation Of The Company
How did the idea for the company come together? Joglekar shared:
“The idea for Baton came about because we saw how inefficient the SMB acquisition market was. My time at Zillow and the problems Dylan’s grandfather had when he tried to sell his business showed us that there was a need for more transparency, quicker valuations, and simpler processes for SMB sales. As CEO, I’m in charge of guiding the company, leading the team, and making sure we always remember that our mission is to support small business owners.”
Favorite Memory
What has been your favorite memory working for the company so far? Joglekar reflected:
“My favorite memories revolve around our owners — when they share stories of their life post-sale. One owner sent us a video of the land he was able to buy with the sale proceeds to pursue his dream of an adult day camp in Maine. It really brought home how we make dreams come true!”
Core Products
What are the company’s core products and features? Joglekar explained:
“Baton gives you a fast business valuation in just one day, while other companies take weeks. We give you free valuations and private listings, and we also have paid options for more features. We only charge a 6% commission if your business sells.”
Challenges Faced
What challenges have Joglekar and the team face in building the company? Joglekar acknowledged:
“A new administration in charge at the SBA and implementation of tariffs are making things uncertain for small and medium-sized businesses and potential acquisitions, which could affect their value and how buying and selling works. We’re keeping an eye on these changes and are ready to help businesses deal with any problems that come up.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? Joglekar noted:
“Baton has worked to make business valuations faster since we started. We’ve integrated QuickBooks data and made it possible to automatically pull data from other sources. Our entire process and platform is built to enable owners and buyers to move quickly to offers and the diligence phase. Our tech has made selling SMBs way easier and more transparent!”
Significant Milestones
What have been some of the company’s most significant milestones? Joglekar cited:
“We have helped sell more than 50 businesses, which helped us raise more than $15 million in and expand our team and enhance our platform. Another key milestone is how we’ve been able to close deals faster and more effectively than traditional methods—showing our impact in the market.”
Customer Success Stories
When asking Joglekar about customer success stories, he highlighted:
“One notable success story involves Gus ‘Emmanuel’ Reckel, the former owner of L’imprimerie, a French bakery in Brooklyn. After running the bakery for nine years, Reckel realized that the business would thrive better under new ownership. Despite receiving unsatisfactory offers from brokers and real estate agents who recommended shutting down the business, Reckel turned to Baton. Our platform helped him find several buyers close to his asking price. Ultimately, the bakery was sold in late 2024 to two brothers who plan to grow the business without changing its core identity. Reckel, now retired, praised Baton’s services, saying the 6% fee was “money well spent.” His story highlights how Baton can provide SMB owners with viable solutions when other options seem limited.”
Funding
When asking Joglekar about the company’s funding details, he revealed:
“Baton recently raised $10 million in Series A funding led by Obvious Ventures and supported by several other prominent investors. This funding has set us up for growth and scaling our operations as we expand to support even more small businesses.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Joglekar assessed:
“The market for Baton is huge – we’re talking about $10 trillion in small business assets that will change hands over the next ten years. This is mainly due to baby boomers retiring and struggling to find people to take over their businesses. Even though technology has made it easier to run a business, there’s still a gap when it comes to helping owners sell them. That’s why Dylan and I started Baton: to create a simple marketplace for buying and selling small businesses. Our recent $10M funding will help us change how sellers and buyers connect and make deals.”
Differentiation From The Competition
What differentiates the company from its competition? Joglekar affirmed:
“Baton stands out because we handle the entire transaction process from start to finish with a mix of technology and people. We have the best supply in the industry and the best sales platform — a powerful combination!”
Future Company Goals
What are some of the company’s future goals? Joglekar concluded:
“In the near term, Baton aims to double our workforce and enhance our product offerings to further support small business owners. Our long-term vision remains focused on revolutionizing the SMB acquisition market and making it easier for business owners to transition out of their companies.”
