The Ledger, every show

“And if you play out what they and OpenAI, just the two labs, are on track to do in revenue and call it a year's time I think it'd be reasonably conservative at this point to say they're gonna pass more than three hundred billion dollars a year in revenue, whic…”

“I think that if you are completing the small amount of cognitive work, right, let's say you just are you know, expense app. You know, the thing, the spend has occurred. It needs, you know, to go get the, write it down somewhere and get someone's approval, and …”

“It's part of why we're the first in the industry to go look at expenses and say, like, why are there two systems involved in buying every single thing you do?”

“In a world where, you know, someone who develops the product can use technologies that helps them sell more effectively, that helps them track That helps them track outreach, that helps them write with a better pitch on the first go, and these are real tools t…”

“And we looked at our data and you know, we support over 55,000 businesses. We lean a little bit towards tech, but not heavily. It kind of resembles the distribution of businesses you would see in the States. And well the majority of businesses have used Used A…”

“Our head of risk Sri Srinivasan, he's amazing came from capital, we're the same boss 10 years apart, actually in, in some sense, and all the heads of risk for all modern fintechs that are, came from Capital One.”

“The corporate, if you look at Amex's disclosures you know, historically, they lose .1% you know, to .2% per year, and we're below that I would argue I think below.”

“The average SDR sales development representative at RAMP we believe books three to four times as many meetings as their next closest competitor.”

“Over three percent of all of the corporate card transactions in the United States are powered by ramp, and nearly one percent of all the corporate transactions are running through ramp.”

“You know, I think by the time we were You know, six years and change. The company had passed over a billion a year in revenue.”

“I think by the end of this year you know, the second, third, fourth, fifth lines of business will comprise you know, in aggregate the majority of Ramp's business.”

“Now you can have an agent functionally that does that, that takes that aspect of the job and so it has access to the full set of data that you, that, that you would, all the transaction related metadata, the receipt data, the timing data, the policy data, it t…”

“I believe today, ramp powers more than two percent of all corporate and small business card transactions in the United States, which is amazing for a business that, you know, ah, the product you couldn't even sign up for it six years ago.”

“We raised five hundred million dollars at a 22 and a half billion dollar valuation.”

“These companies were able to get 15 times more work done. Transactions categorized. But the more interesting part is these agents were way more accurate. These agents all day, like they know the expense policy better than any manager at the company. And so it …”

“We grew four times year over year. No other publicly traded company was doing that.”

“When I look at where we are, it's, it is incredible to be serving empowering. I, what we believe is one to two percent of all corporate and small business card spend in the U S which is maybe the market that we're largest in.”

“This is one of the things that felt like torture at Capital One of engineering and technology was a cost center. It was only an L. There was no P. There was no profit. And so it was just a question of where are costs and how can we rip things out, out, not how…”

“Today ramp is the only place where you cannot just spend money on a vendor, but we can tell you if we're, if you're paying too much.”

“And when you went from like 10 employees to 20 employees. Businesses didn't spend twice as much. They would spend like five, 10, 50 times as much in some cases.”

“I think that a lot of really the North star of where we're headed as a business is, can you actually go understand what things cost and build, let's say like a ways for all sorts of business expenses, a Shopify suite for the CFO.”

“So right now, our burn rate is not far from what it was, like even, like a year ago. And so there's an element of, we now just have a lot more time before the expiration, call it like a decade, you know, versus like, we can run out of stuff in two years.”

“One of the under talked about attributes of crossover funds in particular is they don't have these, they're like throw out ownership targets. That's not nearly as important as call it Valley venture funds, make them out to be, and they could be perfectly fine …”

“And look, I think that there are many hundred billion dollar plus companies in this space. I know Amex It's had since 1850 to work on it, and there are a number of others, but I think that if you can truly do that, and if you can create differentiated value in…”

“Over the last year, I looked at the stats this morning, token spend among RAMP customers has grown by 21 times.”

“And I think the most useful piece of information is that like, you know, the typical business that adopts Ramp is able to cut their expenses by over five percent per year.”

“The typical business that adopts Ramp is growing their revenue a median of 16% per year. The U.S. Average is three to four percent.”

“If you kind of look at the credit card industry which is where we started even just seven years ago, everyone had agreed that the best way to earn business was through these points and rewards Go spend more money. You can earn points and multipliers will have …”

“I think in a world where before it was fine for a CFO to go and say, I'm just going to, you know, manage my payroll, and I have a philosophy about how I'm going to decide how much to spend on that. I'm going to manage my vendors. I think there's going to be a …”

“Like, we've had five quarters in a row of accelerating revenue growth while you know, doubling the business and doing it on a multi-billion dollar scale, and so that part of it has been incredibly energizing.”

“Software, it's a, you know, two something year old business line, just about two years and some months. that's over a hundred million a year business line in and of itself”

“Treasury You know, that's a product that is about a year old, several billion dollars of deposits.”

“You know, we help the average company cut their expenses by about five percent per year.”

“There was no company in New York's history ever that was worth a billion dollars within 18 months or two years or three.”

“By the end of 20, 21 again, I think the multiples really hadn't changed too much, but the company ended with an 8.1 billion dollar valuation. And we were coming up to, but hadn't yet crossed a hundred million a year in revenue.”

“I want to say like 15 to 17 months from a million to a hundred million.”

“In Tokyo or you go to Japan and it's because they actually, most of the home builders are home manufacturers. And things are very standard. The cost of a new home build is like not that expensive.”

“If people crack this, I think it is an enormous opportunity, but it is like a big slog. And like, this is one of those businesses where you're not going to 10 X for a while. You're going to be 10%, 20% compound, but there's a great business.”

“We're still just about doubling each year at enormous scale. I think we are one and a half percent ish of the corporate and small business card market in the US.”

“Like right now July is pacing we're pacing to do 20% more purchase volume in July than June.”

“I think most organizations could not have put out a Superbowl ad from, you know 11 days start to airing.”

“There was this funny set of research we're doing internally, and we wanted to figure out so we have this function called strategic finance, and we were interested just in like a benchmarking. How many people do strategic finance? And it's something like, depen…”

“I was with the CFO of a company this morning who walked me through, you know, over ten billion dollars in revenue, but quite literally, Hundreds of finance tools in order to keep their books, make payments receive payments.”

“And the upshot is the average company using, using RAMP saves about five percent. On their expenses.”

“About 25,000 businesses use it from, you know, early-stage startups to publicly-traded companies like Shopify to Boys and Girls Club of America as a non-profit to, you know, everything in between.”

“For us you know, if a sales team is talking to you know, a prospect, it's almost a hundred percent of companies. That we're able to approve.”

“Underwriting times for manual cases that we couldn't use machine learning to write, it could take an underwriter two days to do that. They sat side by side with the underwriter, and I think within a couple, I think like a two week sprint that the average under…”

“We're call it one percent of how you know businesses spend money on cards in America, but there's 99% to go.”