The Amazon aggregator boom is dead
By Noah Wickham · July 29, 2026 · Curated by George's Blog
The Amazon aggregator boom is dead
Brands used to sell for 5x to 7x EBITDA in 2021
Now the market has recalibrated and most Amazon brands are worth 2x to 4x if they can sell at all
What buyers actually value in 2026
➝ Multi-channel revenue, not Amazon-only concentration
➝ Diversified SKU mix, not one-hero-product dependency
➝ Defensible brand, not commodity private label
➝ Recurring revenue via Subscribe & Save, not one-time purchase reliance
➝ Strong margins, not vanity revenue at breakeven
➝ Clean books, real accounting, not shoebox receipts
➝ Established supply chain, not single-supplier risk
What tanks valuation
➝ Single-SKU dependency (>70% of revenue from one product)
➝ Sub-20% net margins
➝ No Brand Registry, no trademark
➝ Founder-dependent operations
Realistic valuation ranges in current market
Amazon-only single-SKU brand, sub-30% margin: 1.5x to 2.5x EBITDA
Amazon-focused multi-SKU brand, 30%+ margin, some brand equity: 3x to 4.5x EBITDA
Multi-channel branded product, 35%+ margin, defensible IP, subscription revenue: 4.5x to 7x EBITDA (the market has shifted so this would be a fairly aggressive offer only for consistent growth brands)
The brands prepping for exit in 12 to 24 months are working on the right things right now
Reducing SKU concentration, opening Shopify and TikTok Shop, building subscription base, cleaning up accounting, systemizing operations
The brands that show up to a sale meeting Amazon-only, single-SKU, 15% margins are getting 1.5x offers if they get offers at all
The market cares about what makes the brand valuable without you running it
Build the business you'd want to buy, then sell it or run it forever