Latka: TSheets took 10 years to reach $35M ARR before acquisition
“TSheets was doing thirty five million bucks a year in ARR. We had him on the show and it took him 10 years to get there, right?”
TSheets hit $30M ARR on Intuit and sold for a 10x multiple
“Well, look, Matt Russell optimized everything at T-Sheets to be number one in the Intuit app exchange, which about, you know, thirty million in AR, then flipped it for about 10 X to Brad a couple of months ago.”
Intuit Acquired TSheets for Almost 10x ARR at $30M Run Rate
“He positioned TSheets number one in the Intuit app
Change many years ago, grew basically to thirty million in ARR, and then recently Brad took him out, basically paid him almost 10 X ARR to acquire the company.”
Intuit did not overpay acquiring TSheets for 10x ARR, says Nevogt
“No, I don't think so. Because they, you know, they've got a great product and a great customer base. And I mean, I, I'm not one to judge that, I guess, in the first place, but, you know, look at what, you know, QuickBooks can do with the product once it's thei…”
Latka: Intuit acquired AppExchange-dependent TSheets for $340 million
“Matt Russell with TSheets built his whole company inside the Intuit AppExchange. He banked on it. He was ranked number one, and then Intuit acquired him for three hundred and forty million bucks, right?”
Gohman: TSheets has 40,000 customers, 500,000 users, and 200 employees
“Matt is the CEO of TSheets. Now TSheets is a time tracking and a scheduling software, and Matt is really in a growth phase. 40,000 customers as well as 500,000 users. About 200 employees out of Boise, Idaho.”
Rissell: TSheets suffered four go-to-market failures and ran out of money
“I mean, we had four miserable go-to-market failures, like to the point where we ran out of money, we had to move into free space, we had like four and a half employees, like the world was coming to an end.”
Rissell: TSheets has no management titles across the company
“We have no management titles inside of TSheets at all, because I think managers are, like, trying to constrict and trying to manufacture authority, right?”
Rissell: Outbound sales failed to scale at TSheets
“Like, it couldn't be an outbound sales team that created the demand, and so that, that, that was, didn't work. So now our salespeople are different, right? So we have those that come in, and they actually sign up for TSheets, and then we have salespeople engag…”
Rissell: Manipulating NPS scores for marketing leads to bad internal decisions
“One thing that I will say is the NPS score, I mean, you will be tempted to create a bullshit NPS score. You will. You'll be tempted to do it, because it's something that you control how you do it internally, and then people leverage that as a marketing tool so…”