GoldMine

“So I invented it started on 5000 dollars, no bank loans, no venture capital, ran it for 10 years, had five million customers around the world, and sold it and retired at 40.”

“About a year after I sold Goldmine, I got a head tumor, and I spent about a year, you know, getting treatment and going through the journey of health, and I'll tell you what, Nathan, I think the most important thing you have around you is your health. Next is …”

“And I cold called every Novell reseller in the country, and I got them to use it. Because people sell what they know, and they know what they use, then they started to recommend it, and that gave me my first 50,000 dollars a month in revenue for Goldmine.”

“Imagine in 1989, you built the first networkable sales and marketing tool when people were figuring out just what to even use a network for. There wasn't any networkable business software, let alone sales and marketing software.”

“And so we took cash back in the day and it was about one hundred and twenty five million dollars in cash, but no strings attached.”

“Five million total users, about seventy million in annual revenue, about 250 team members worldwide, about 5000 bars and 500 third-party add-on products.”

“We typically start out with a three user bundle, which is about 1900 dollars. And that includes a year of support and three users. And then in year two, like subscription, you buy the product again. And often with an uplift, they're adding seven percent every …”

“And so some of our customers love Goldmine, and our hosting is probably, you know, 20% of our business, and that pays us, you know, the ongoing recurring fee, or you can take your license that you own and your data, move it up into the cloud, and just pay for …”

“The founder sold out and he's running another product called Nimble right now.”

“That, not this year.”

“Yeah, it's about 75% recurring.”

“It's about 5000. And we probably, we estimate we probably have one or two who don't, or 2000 who don't pay the fee.”

“So it's about a hundred new names a quarter.”

“They were probably twenty million.”

“No, there was no maintenance, and it was all shrink wrap, and it was retail. CDWs and CompUSAs, I mean you know, people that are, you know, disappeared from the same office depots max, it was all retail, and then the retail price was probably about 300 bucks.”