Teachable

“It's two 50, but close enough.”

“I mean, we made like a little bit over 40 in cash. The rest is equity, but the equity is pretty nice. It's just this random thing that, you know, keeps paying you out.”

“At least for me, I would say up to about 50 was really fun. When it got to a hundred, it started feeling less fun.”

“Last time, I think we overplayed the mission side because like, again, mission is important, but we still wanted people who are primarily there to win. But last time we're like, Hey, you know, education is really important, but then we ended up getting a lot o…”

“I mean, half of it was cash, half of it was stock.”

“The first month we processed maybe like 3000 dollars in course sales. But every single month after that, we process a little bit more until eight or nine months in, we were doing 40, 50,000 dollars a month in course sales across, I want to say 15, 20 creators.”

“Our business, like we sold the company at about twenty five million in ARR and we doubled to 50,000,003 months later.”

“Like, 50% of times people wouldn't open the thing. When you charge more money, you actually got better results, ironically. A lot of people were more likely to take the course, more likely to report a happier satisfaction just by charging more”

“What we found is most creators could double their price and see no change in conversion rate.”

“Honestly, we didn't pay them very much through most of the company building journey, but they received a fair amount at the end when they helped us through the M&A transaction, right?”

“So at Teachable, we ended up building the most bloated product in the world because I never knew how to say no to a customer. It was, if a customer came in with an esoteric requirement for something they needed, we'd build it, and then we'd figure it out. And …”

“If you go to Teachable's top courses, Udemy's top courses, learning to master Excel is always in the top, like, 10 earning courses.”

“At Teachable, too, we raised thirteen million dollars in equity financing, which is pretty small for kind of where the company ended up. When we sold, we still had ten million in the bank.”

“We had a two-person board for the entirety of Teachable, which is, which I highly recommend.”

“I think the teachable outcome was a middling outcome. I mean, I'm obviously very proud of, you know, what the team accomplished and all of that, and big fans of the company Hotmart that we ended up being acquired by. But yeah, I would classify as very much as …”

“When Teachable sold, they sold for, I think, two hundred and fifty million. This is public information. This is Google, whatever the headline says. That's what I'm trying to say. I think it's two 50 or ish. And I think he was only doing twenty five million a y…”

“They were at like, twenty million or so in revenue, and I think they sold for closer to 202 hundred fifty million, something like that.”

“No, there are seven figure annual earners.”

“We were going to bootstrap, but our first customer was Teachable, and Anker reached out saying, I want the product faster. Can you raise some money and build a team on it?”

“He launched a site called Teachable, and they're doing, they're, at the time, they're doing like a 150 grand per month, and he just closed around where their post money was thirty million.”

“And he's currently as of January, 2016, trying to raise basically thirty million bucks.”

“They're doing about a 110 K top line revenue right now.”

“And he's right now negotiating an equity round with a pre-money valuation at thirty million dollars, which is like the stupidest. In my opinion, I told him this on the show. I said, that's the stupidest thing I've ever heard.”

“You know, they're doing like 150 K top line per month right now. So multiply that out for the year. You know, you're, they're doing about 1.7 million, you know, annually”