Blind teaser template: what to include without naming the company
A blind teaser is a one-page, no-names summary sent before an NDA. This template covers business overview, financial ranges, customers and scale, plus an operating-history and systems line written in ranges so it cannot identify the company. A contemplated data license belongs in the CIM and disclosure process, not the teaser.
When should you use a blind teaser?
A blind teaser is the one-page, no-names summary a sell-side advisor sends to prospective buyers before they sign a non-disclosure agreement. Use it to test interest without revealing the company, and only add detail that cannot identify it.
The teaser's job is to earn an NDA, not to answer diligence. The confidential information memorandum (CIM) comes after the NDA. This template gives the standard sections plus one line most templates omit: operating history and systems footprint, written so it cannot point to the company.
Blind teaser template
Copy the structure below and replace each {placeholder}. One line per paragraph keeps it scannable.
How do you write the systems line without identifying the company?
Describe the footprint in ranges, not names. A buyer wants to know that history is deep and the records are organized, not which vendor you use.
| Instead of | Write | Why |
|---|---|---|
| "Founded in 2009 in Dayton" | "Founded over fifteen years ago" | Exact year and city narrow the field |
| "Runs NetSuite, Salesforce and Jira" | "Core operations on more than ten integrated business systems" | Named tools can identify a company in a niche |
| "Records back to 2011" | "More than a decade of preserved records" | Removes a searchable date |
| "Sells to hospitals in Ohio" | "Serves regional health providers" | Geography and segment broadened |
| "212 employees" | "Over 200 full-time employees" | Ranges stay safe; keep them true to the facts |
Check every phrase for uniqueness. If a competitor reading the teaser could guess the company in a minute, widen it.
Should a data license appear in the teaser?
No. A contemplated or existing data license belongs in the CIM or the later disclosure process, not the teaser. Putting it in the teaser can both identify the company and mislead buyers about what is for sale, since the license may carry exclusivity or term limits that affect the deal.
Decide where it goes using this rule:
- Teaser: only the history and systems footprint line, in ranges.
- CIM: a short section describing any existing license, its term and exclusivity, or the owner's openness to explore one.
- Management presentation and data room: the agreement, authorizations and delivery records.
- Disclosure schedules: the formal list that supports the representations. See the confirmatory diligence explainer for when buyers ask.
The buyer list guide explains how to treat AI data buyers alongside strategic and financial acquirers.
How do you personalize the template by client type?
Adjust the highlights to the business model.
| Client type | Lead with | Records line emphasis |
|---|---|---|
| Vertical software | Recurring revenue, retention, product depth | Years of customer and support history; see VMS acquirer versus private equity |
| Manufacturing | Customer mix, capacity, quality record | Work orders and quality logs; see the manufacturing checklist |
| Services | Client retention, staffing model | Time and project systems |
| Any | Owner objectives | One line on history, never system names |
The software advisor selection guide shows what owners expect from the advisor drafting this document.
What follow-up timing works?
Illustrative cadence only; adjust it to the process letter your client has approved.
| Day | Action |
|---|---|
| 0 | Send teaser to the approved buyer list with a short cover note |
| 3-5 | Follow up with buyers who opened it without replying |
| 7-10 | Send the NDA to interested parties and release the CIM on signature |
| 14 | Collect first questions and schedule management calls |
Hold the sequence steady across buyers so no one receives information earlier or in greater depth than others.
What should never go in a teaser?
- Company name, address, domain, logo or distinctive product names.
- Exact revenue, headcount, founding year or customer names.
- Confidential records, screenshots or samples of data.
- Statements about a data license's terms, price or buyer.
- Any promise of payment, return or reward to anyone.
How do partner rewards work for an advisor?
Partners earn 25% of the eligible platform fees SourceX actually collects from the referred company's licensing deals, capped at $100,000 per referred company. The reward is paid only after the buyer pays and SourceX receives its fee, and no reward is guaranteed. It is never deducted from what the company receives. Record each introduction with the company introduction record template and read the referral opportunities for M&A advisors.
Next step
Use the company fit checker and the who qualifies page to screen your mandate, then register as a partner to introduce a qualifying company.
- Step 1Share your linkSend your personal link to a company you know.
- Step 2Company appliesThe company applies itself at /apply.
- Step 3Buyer selects and paysThe buyer selects and pays for the data and SourceX receives its fee.
- Step 4You get your rewardYour share of SourceX fees becomes payable.
Common questions
What is the difference between a teaser and a CIM?
A teaser is a one-page anonymous summary sent before an NDA to gauge interest. A CIM is the detailed confidential memorandum sent after the NDA, with financials, operations, customers and growth plans. Details that could identify the company belong in the CIM, not the teaser.
How long should a blind teaser be?
One page is the norm. Buyers read many teasers, so lead with the business description, a rounded financial snapshot, a few strengths and a clear contact route. Anything longer starts to include detail that can identify the company or belongs in the CIM.
Can I mention AI or data assets in a teaser?
Only in non-identifying terms such as years of preserved records across many systems. A data license, its terms or its counterparty should not appear. Disclose any existing or contemplated license in the CIM and the diligence process, with your counsel's input on timing and wording.
Should the teaser name the industry?
Use a descriptor broad enough that several companies fit, such as a category of software or services, not a niche that points to one firm. If the industry is small, widen the descriptor and rely on the NDA to unlock specifics.
Who approves the teaser before it goes out?
The owner or sponsor signs off, and counsel may review it for confidentiality and accuracy. Check that every figure is supportable from the financial statements, because the numbers in the teaser should survive comparison with the CIM and later diligence.
Related pages
- What is confirmatory due diligence, and what happens after the LOI?
- How to build an M&A buyer list, and why AI data buyers sit on a separate track
- VMS acquirer or private equity: which buyer fits a vertical SaaS company?
- Manufacturing company due diligence checklist: customers, plant and records
- How to choose an M&A advisor to sell your software company
- Company Introduction Record Template
Free resources
- AI readiness assessment — Ten questions, five dimensions, a score out of 100.
- EBITDA calculator — Reported and adjusted EBITDA from net income.
- MOIC calculator — Multiple on invested capital from realized and unrealized value.
- All free tools · MCP resource center
By SourceX Partnerships Team · Published 2026-10-09 · Updated 2026-10-09
Know a US company with valuable proprietary data?
Become a referral partner from anywhere we support, get your link and introduce an owner or authorized decision-maker.
Refer a company →I own a business
Explore licensing your company's data to AI developers worldwide. Start a short assessment; no uploads needed.
Start an assessment