Podium

“That worked great for years until Service Titan shut them off the other day, shut them off after all these years with a thousand joint customers.”

“When Podium went, became agentic about a year half ago and crossed a hundred million of agent revenue, the agents for the same customers, for the same HVAC guys and other trades, the agent all of a sudden could do a lot more than get a lead.”

“Fin great example podium, another great example, both of them with the new products have gone to a hundred plus million in a couple of years.”

“In the past five years, my co-founder Dennis and I have built a SaaS company outside of Silicon Valley from zero to sixty million dollars of ARR in four years.”

“The irony of that story is if that firm would have invested a million dollars into Podium at that time, today it would be worth over two hundred million dollars.”

“That took about a year, a little longer than a year, but we went from one to ten million of ARR, and the whole theme of that year for us was building our credibility network.”

“And that year for us, in the year of 2015, we went from one, we went from less than 10 employees to over a hundred, and because of the advice that Andrew Mason gave us, we focused on our values, we started hiring based on our values, and we decided to make a r…”

“Because we're not in the Bay Area, we are going to have to fight even harder to build a credibility network, and you just need it. You need to have people, you need to have investors, and you need, I think the first 25 hires that we made at Podium were, ah, re…”

“Now, next, the next year, in 2017, we went from just over ten million of ARR to 30.”

“Now, the next year, ah, we went from 30 to 60, and that was another big year, not quite as big of a jump as 10 to 30, but in that year, we basically pulled away from the pack.”

“Four years ago, it was me and my co-founder Dennis in the spare bedroom of my apartment. Today, we have 550 employees. Ninety-two million dollars of funding”

“So, once we got about 10 businesses to sign up, then we invested our 750 dollars each, we built the MVP, and we just, and we launched it.”

“And I think it's really important to hire an engineer first if you're not, if you don't already have engineering power because if you don't have a great product, you're kind of screwed even if you're great at sales.”

“So we charge it. 299 dollars a month. And that's per location.”

“So average customers paying us about 400 dollars a month.”

“End of 20 15. We had 15 employees. And then today we have a 110.”

“We raised 500 grand in 2014. So that was our kind of seed round. And then we raised three and a half in December of 2015.”

“We have given up About. 20% of the business.”

“We usually focus on a net churn, but our gross hovers around about one percent monthly, which in our space is extremely good.”

“And then we really focus on our net churn, which is about negative two percent monthly.”

“We spend about 1200 dollars to acquire a customer. That's our cap.”

“So our LTV, our average LTV is about 10 grand. So if you take, it's about three, three year lifetime.”

“We went from zero at the beginning of 2015 to, well, close to zero to 1.8 million in ARR. By the end of 2015.”

“We just hit eleven million in ARR this month.”

“2017, we'd like to do twenty five million dollars in new annual recurring revenue, which would take us to about somewhere in the mid thirties if our churn holds.”

“Okay, so it's a local company. It's called Domo BI company, and I didn't even know if they had a real product, but we just started using about six months ago, and I, like, our whole business is basically run on Domo.”

“We Josh James, their CEO is an investor, so we actually get it.”