Bill.com

“It shows you what he's hooked up to headless within Salesforce too, because there's multiple things running into this. So he's got class. I call it classic Salesforce for sales, right? So Salesforce CRM that our sales team has always used for like 10 years. He…”

“Bill.com is gonna be a stronger business, Or SAP is going to be a stronger business, or Adobe is going to be a stronger business because of AI.”

“For example, build.com It compounded to a huge network, right? And obviously, it was an amazing outcome for us, but the growth rate was always, I think, you know, second quartile, right? There were companies always growing faster.”

“It took us, like you said, it was probably, 10 years before we started having meaningful revenue that others like, huh, that company might go public. And then you fast forward kind of two years later, three years later, we're filing for the IPO. We're launchin…”

“You can't force a crossing of the digital divide overnight. So all of your listeners, everybody's trying to force that crossing. They had this great idea. We're trying to force that, but you can't, you have to have a bridge.”

“And on the payment side, we'd be like, we'll just cut you a check. So we didn't force people to connect their vendors, but then we did incentives from a pricing perspective, a check was A dollar 49 or whatever, a dollar 69 a day, and an ACH was 29 cents. So th…”

“I think it was probably our series E or D. So we ended up getting to I for IPO. But in one of our investments, one of the investors is you know what? I'm not sure you guys have all the right regulatory stuff. I'm going to bring my outside counsel in to really …”

“There's plenty of investment that we made over the years that didn't help us acquire customers. It didn't help us increase revenue. It was like, no, we just have to build infrastructure.”

“So the accounting firms do represent a big bulk of client base.”

“In fact, I think in the last quarter numbers, we announced that the net revenue retention had bumped up to one 24, right?”

“The accounts, we look at it signed in the same way as it would direct, but we look at the account, the revenue per accounting firm, right? So the quota is driven off of that. I see. And then they have an incentive to get X clients on board.”

“The banks are very different, right? That's kind of elephant hunting. And so the teams there, they get the bank committed upfront and we drive that commitment in the contract to make sure that there is a commitment.”

“Yeah, a 121,000.”

“The opportunity for us to take this 3.2 million network members and give them something that is a paying product.”

“We basically gave a team, you know, goal of building a competitor to build.com. It was three engineers, one designer, one PM, three months, and they hit it out of the park and that product is, is, is moving in billions of dollars a year.”

“When you look at, you know, bill.com, right, they're a publicly traded company, Expensify Public and Traded or Concur or Coupa. These are all like large players that are actually very motivating and largely de-risk some of the business decisions you're making.”

“We went from our first institutional round of funding to getting acquired in, in about four years, right? In a two and a half billion dollar exit.”

“Last year, two and a half billion dollar acquisition by Bill.com.”

“Because you're not going to go out and get the best people from Salesforce or Bill.com or wherever. You're going to get people who are not those people who have an aspiration for the future of being those people, the same way we all do in our startup, and you'…”

“Usually at zero to a hundred million dollars, you might have a couple of sales motions, maybe a couple, a few marketing channels. It's much simpler. You focus, but then after sometimes, sometime around a hundred million dollars, you tend to Start hitting dimin…”

“If you looked at our quarter last quarter we have now surpassed our revenues. Subscription pricing revenue has now been surpassed by transaction-based pricing revenue.”

“Thinking about a go-to-market skin that's verticalized from messaging standpoint, from customer references, even segmenting customer, ah, sales teams so that they're calling specific verticals just makes you much more effective. You're not even changing the pr…”

“If you want to control your own sales, control your own destiny, you either have a great self-serve platform or you have your own sales force.”

“It works if you're like-sized companies, and you have a very complimentary offering that's selling into the same buyer persona.”

“If you look at our last four quarters since we've been public, every quarter it's accelerated in terms of growth.”

“Before a hundred million, it's just a distraction.”

“Bill.com. It's almost, outside of one recent acquisition, it's almost a hundred percent domestic. We have, you know, depending on how you count it, if you count all our acquisitions, yeah, maybe we have 300,000 customers. There's six million SMBs in the US alo…”

“I interview every single person, even to this day, and when I first start, the teams hate it.”

“We've got 270 bips in the US on credit card, and this is a headline rate but we have a flat fee charge for ACH presently, and so if you're processing, ah, B to B payments, similar to say like a bill.com, but you're running it through us, ah, between the two pa…”

“The majority of bill.com's revenue is no longer from software.”

“Bill.com has gone from one 10 to almost one 30 since IPO.”

“As these tools, Bill.com, Avid Exchange, all these wonderful accounts payable automation solutions are mostly built for finance professionals, like an accountant, a bookkeeper, a finance team, and Melio is targeting these owner operators, these small businesse…”

“Oh, that's easy. Definitely settle. It's at Settle.co. Alec, the founder, was the head of credit at a firm, and he and his founding team built a betterbill.com and have found extreme product market fit.”

“I'm amazed that that's still a surviving company, let alone a public company, but I'm totally with you.”

“We do close to forty billion dollars a year in money movement, and the average transaction is 1700 to 2000 dollars”

“When a customer comes to us, 95% of their payments are paper-based. And we're able to move that to, you know, probably 35 to 40% over the course of the first six to 12 months.”

“We charge 49 cents for an electronic payment period.”

“And we have over two million entities that are in our network now that use us to pay and get paid.”

“And so this one, we have about a hundred and ten million from venture capital. In the company over the last 10 years.”

“And when I say the most part, I mean like well over 90%, right? If they sign up and then they don't do any of those things, and in particular if they don't get the sync done or don't get a payment done you know, then within 90 days, you know, we might lose 20%…”

“The average customer is paying us around a hundred dollars a month.”

“Oh yeah. Yeah.”

“Also in addition to banks, we have a great partnership with Intuit where we are just in the process of becoming embedded inside of QuickBooks Online.”

“Our payback target is, you know, somewhere between 10 and 15 months. And generally we had that.”

“We assume, you know, well over five years, but we don't actually know because, you know, the data is just growing so fast, and, you know, we expect that, you know, customers will last longer, so we've had some customers obviously been in market right now for m…”

“So we do not sell anything today. We have not partnered with anybody today”

“We will, I would imagine someday in the future, we will do something with that to help other people do the lending that they want to be able to do”