# A $1B IPO in 5 months, then selling the dream house · Worth Owning · Horizon

Canonical: https://withhorizon.co/worth-owning/miranda-lievers

[All episodes](/worth-owning)

![](/images/logos/thinkific-ivory.png)Worth OwningEp. 08

[Stepping back](/worth-owning?topic=Stepping%20back)[IPO](/worth-owning?topic=IPO)[Life after a sale](/worth-owning?topic=Life%20after%20a%20sale)

Worth Owning · Episode 08

# A $1B IPO in 5 months, then selling the dream house

Hosted by **Krystyn Harrison** · With **Miranda Lievers**, Co-founder and former COO, ThinkificNov 2025 · 42 min

0:0042:00

Watch or listen on[Apple Podcasts](https://podcasts.apple.com/us/podcast/miranda-lievers-taco-shop-to-%241b-ipo-selling-the/id1830558138)[Spotify](https://open.spotify.com/episode/7h3PXsrF7IDt82SjPBabMz)[YouTube](https://www.youtube.com/watch?v=Ip9NWlWQACE)

## Four people above a taco shop to a $1B IPO on $6M raised

Overview

Miranda Lievers joined Thinkific in 2014, when the team was four people around a table above a taco shop in Vancouver. Over the next decade the company grew to 500 people and, in the pandemic surge in online learning, went public at a billion-dollar valuation with only about $6 million of primary capital raised. The IPO took 5 months minus a day, against a typical 18.

Miranda explains what made the company ready when the moment came. The founders had agreed years earlier they would only list at a $1 billion valuation. Infrastructure work done before March 2020 kept the platform up when traffic surged. And because the investors were former founders who bought in again at the IPO, the team kept control and could run every part of the process at once, entirely on Zoom.

Then the part most IPO stories skip. The first day of trading felt like standing in an empty room after a party, and ringing the bell felt hollow next to the sprint that got them there. After stepping away, Miranda built the dream home, filled it, and sold it. Her advice to owners in the messy middle: be directionally correct, not perfect, and remember you are the only expert on your business.

Chapters

What you’ll learn

01How a valuation floor set early shaped the IPO decision

02Why systems for people are harder to scale than code

03What changes when an IPO runs in 5 months, not 18

04How to make calls in the messy middle without perfect answers

Where does your business stand today?

[Get your Optionality Score →](/optionality-score)

## More on the episode

Episode 08Nov 2025 · 42 min

Note: Krystyn, Matt and their guests may hold interests in companies discussed in this episode. Worth Owning is not financial, legal, tax or investment advice, and is for informational purposes only. Do your own research and speak with your own professionals before making any financial decision.

[Where this shows up in your businessWondering what comes after the big milestone?The Exit Partnership plans the outcome and the life you want on the other side of it, with a Partner who has done both.See the Exit Partnership →](/exit-partnership)

![Miranda Lievers](/images/guests/miranda-lievers.jpg)

Guest

Miranda Lievers

Co-founder and former COO, Thinkific

Miranda Lievers co-founded Thinkific, served as COO as it grew from four people to 500 and through its IPO, and stepped away about two years after the listing. She now writes and speaks for owners working through the messy middle of scaling.

[thinkific.com](https://www.thinkific.com)

For Owners Only

The takeaways from every episode, and one move to make your business worth more.

By subscribing, you agree to get For Owners Only emails from Horizon. Unsubscribe anytime. [Privacy Policy](/privacy-policy)

Every Thursday. Free.

You may also enjoy

[All episodes →](/worth-owning)

[Alex Soojung-Kim Pang · Mar 2026The 4-day week as a design choice for owners](/worth-owning/alex-soojung-kim-pang)[Susan Richards · Apr 2026Is your CFO just a controller?](/worth-owning/susan-richards)[Josh Axler · Apr 2026AI moats, venture debt and the $20M exit](/worth-owning/josh-axler)