The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
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Vandenberg: Chili Piper Will Hit $1B Valuation at $20M ARR
“I would say that if we meet our plan by the end of the year, getting the twenty million, we'd be there.”
Vandenberg: Chili Piper Will Hit $100 Per Share, Making Employees Millionaires
“We have a 150 pipers. We promised them all that we're going to get our share price to a hundred dollars a piece so that they're all millionaires every single one of them.”
Chili Piper cuts headcount by one-third, from 250 to 170
“So we cut a third of the company. So we went from two 50 to one 70”
Chili Piper achieved cash flow positivity to avoid a down round
“We didn't want to go at a lower valuation, so we said we cut costs, we go cash positive. That's what we do. So that's what we've done.”
Late-stage investors cannot block sales below Chili Piper's $625M valuation
“They don't have the rights. Those who came into the very high valuation do not have the rights to block.”
Tiger Global Offered Chili Piper a $33M Series B on First Call
“So unsolicited in March, we got an interest from Tiger Global. I got on a call with John Curtis and literally he made the offer on the fly. The later the evening with a term sheet two weeks later with the money for a thirty three million be around.”
Vandenberg: Chili Piper sees CAC payback in about one month
“Yeah, that's right. We're getting paid back in about a month, yeah. About a month.”
Vandenberg: Fast-growing SaaS companies raise at 20x run rate
“I see that fast growing SaaS companies Raise at 20 times the current run rate.”
Chili Piper burned $2M per month before enacting layoffs
“We were burning, it went to two million a month.”
Vandenberghe says 42 VCs reached out to lead Chili Piper's Series C
“I had 42, that's the number, VCs who had reached out to me to say, we want to do your C-Round, we want to do your C-Round”
Chili Piper faced revenue contraction and a 50% drop in new logos
“Instead of organic expansion, we had contraction. Instead of new logos, we had half of new logos.”
Chili Piper employee satisfaction dropped from 92% to 75% following layoffs
“We were at 92% before Morocco. We redid it in January, we were at 75%.”
Chili Piper transitioned to cash flow positive in just four months
“Yeah, so so November, December, January, February.”
Alina Vandenberghe developed the first iPad app demoed by Steve Jobs
“She did the first iPad app that Steve Jobs demoed when he launched the iPad.”
Tiger Global pushed Chili Piper to adopt Oyster for global contractor compliance
“But then when we did our B run the attorney for Tiger Global said that doesn't look very safe, like from a liability standpoint, right? And so we said, okay, we'll move to Oyster.”
Two Ukrainian engineers made $1.6M each for one month of work
“We gave them shares. A 100,000 shares each. And as I said, the secondary is 16 dollars a share. So each of them, that pair for the months was 1.6 million each.”
Vandenberghe: Base10 offered Chili Piper $15M on $55M pre at 12x ARR
“So that deal was June 20, 20. It was based then. And they offered 15 on 55 pre.
28 years.
So we're doing around four plus million.
So it's, it was
around 12 X. There was a number, 12 X run rate.”
Vandenberg: All Chili Piper Customers Double Inbound Conversion Rates
“And what happened is that all our customers double the inbound conversion rate. So they go from 40 to 80% or from 20, some went from 23% to 75%, right?”
Vandenberg: Early Chili Piper investors saw 50x to 100x secondary returns
“Some of them You know, came in very early and they did a 50 or a hundred X. Yeah.”
Chili Piper achieves positive cash flow without raising new capital
“No, we switched to being cash positive.”
Tiger Global offered $33M at an 'absurd valuation,' says Vandenberghe
“We bootstrapped for four years, then we raised fifteen million in twenty-twenty, just after COVID, and then Tiger Global came in and say, we want to give you thirty-three million at an absurd valuation.”
Nicolas Vandenberghe's first startup reached $11M revenue and received a $50M offer
“And we did six millions our first year, eleven million a second year. And then we got an offer for fifty million and John Scully.”
Nicolas Vandenberghe lost a $42M payday when a $60M acquisition collapsed
“Six zero, and I have 72% of the company So I'm about to clear forty-two million, and, ah, and the deal collapsed, and the dot bomb happened, and I had to shut down the company. Actually, I did a deal with Microsoft, but I laid off 65 people, ah, and.”
Nicolas Vandenberghe founded and failed a G2 competitor in 2007
“So, so I played around, and actually, in 2007, I started a company to do exactly what G two does, and I failed.”
Vandenberghe: Social Capital offered Chili Piper $2M on $20M pre in 2018
“In 2019
No, 18, social capital came to us and say we, they understood, they said we're lucky, and they gave us a term sheet to put two million on twenty million prix.”
Chili Piper's ARR grew from $7M to $16M following Tiger Global investment
“Then the company with the money grows faster, as you can tell, and we go from seven to 16, so we now more than doubling.”
Chili Piper Crosses 150 Employees and $10M Run Rate
“We passed 150 employees. We actually passed the ten million mark earlier this year, so we're not, not aiming for the twenty million mark.”
Vandenberg: Chili Piper Enterprise Net Revenue Retention Exceeds 150%
“Our trend is super high in this SMB, and our net revenue retention is a hundred percent, but our net revenue retention in the enterprise space is north of a 150%, like the number you mentioned, and the market is in between.”
Chili Piper Faced Pushback from SDRs Fearing Job Loss at Launch
“When we first launched it, we only had booking, and it's SDR's job to book, right? So we had a bit of a pushback, because as you're replacing my job, I'm not so happy about it.”
Vandenberg: Chili Piper has over 200 customer companies and 7,000 active reps
“We've more than 200 companies using our software. We about 7000 reps receiving meetings and using up”
Chili Piper: Churned $60K and expanded $360K over 12 months
“We've churned 60,000 dollars and expanded 360,000 dollars. So we have a net churn over the last 12 months of 300,000 dollars.”
Chili Piper Grew Organically Until Starting LinkedIn Ads in 2018
“I've hired my first director of demand gen last June. We started advertising on LinkedIn in early July. So we've grown all that business pretty much organically word of mouth. It's all been inbound.”