Sukh Sidhu, CEO of Stridist, discusses why he acquired the fitness software platform and the competitive landscape of legacy fitness software.
0:00 / 0:09exact quote · 9.6s
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“And in, in the fitness industry, there are, there's lots of competition for what we're building, but they've been around for, you know, 1020 years, and none of them are liked, they're all just tolerated”
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More from Sukh Sidhu
Opinion
Sidhu: Fitness software rarely scales beyond 10,000 users due to fragmentation
“Beyond that, I think it's a world of pain in the industry that we're in. It's so fragmented and just a very difficult industry in general to scale in and bring together.”
Sukh SidhuSep 27, 2022▶ 15:48Startup Acquisition Stories with Sukh Sidhu, Founder and CEO of Stridist
Disclosure
Sidhu killed two acquisitions because sellers refused to share codebase access
“I got in a couple of situations on On micro-acquired, I think, one-off, where I didn't end up buying, and this is, again, pre-Stridist, where I submitted a letter of intent, we moved into due diligence, and the seller just was still really unwilling to share m…”
Sukh SidhuSep 27, 2022▶ 19:09Startup Acquisition Stories with Sukh Sidhu, Founder and CEO of Stridist
AssertionNot checkable as stated
Sidhu bought Stridist on MicroAcquire when it had flat $1,000 MRR
“I think when we first found it on Micro Acquire, it was around just over a thousand dollars MRR and just flat line, no marketing, no presence online.”
Sukh SidhuSep 27, 2022▶ 6:00Startup Acquisition Stories with Sukh Sidhu, Founder and CEO of Stridist
AssertionNot checkable as stated
Stridist generates roughly $36,000 in monthly recurring revenue
“It's about 36,036 K MRR.”
Sukh SidhuSep 27, 2022▶ 8:49Startup Acquisition Stories with Sukh Sidhu, Founder and CEO of Stridist
AssertionNot checkable as stated
Sidhu's existing audience drove $20K MRR in Stridist's first eight weeks
“I think, you know, somewhere between the first 15 to 20 K MRR came in the first eight weeks, six to eight weeks, and that's probably credited to my existing audience, and then since then it's largely been word of mouth content really on social but”
Sukh SidhuSep 27, 2022▶ 10:15Startup Acquisition Stories with Sukh Sidhu, Founder and CEO of Stridist
PredictionNot checkable as stated
Sidhu predicts Stridist will reach multi-million annual revenue by 2025
“So I'm super confident in, you know, us getting to a few million revenue a year. Super confident. I don't think it'd be easy. I think there'll be periods of just stuck, but I think I think we can do that. I think that's an outcome we can get to in the next cou…”
Sukh SidhuSep 27, 2022▶ 15:25Startup Acquisition Stories with Sukh Sidhu, Founder and CEO of Stridist
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