Grasshopper

“We were doing a couple thousand dollars a month in revenue we were a couple months out of YC. And the company itself was basically trying to do Google voice for business, compete with grasshopper as a telephony startup that was built on Twilio.”

“We built a great company, but someone way overpaid for it, Citrix.”

“We used SVB because there were very few options at the time for us. We were also at a revenue kind of point that they allowed for that. These were roughly the terms. I think it was actually 12 and a half percent interest. So it wasn't cheap, but there was no w…”

“So from one to ten million dollars in revenue, you can have a lot of doers on the team, which means, hey, do this, come back, do this, come back. To get from 10 to 20, you need a lot of thinkers, which is people that come to you and say, David, Here's what I'm…”

“We did build Grasshopper, bootstrapped it a hundred percent built it from zero to thirty million dollars a year in revenue before we sold it, and ultimately sold it to Citrix for a hundred and seventy-five million dollars in total.”

“When we sold the company, we left the next day, me and my partner. Right. So there was no earn out. There was no time we had to spend there, nothing else.”

“Six weeks later, after we closed that deal, an activist investor told Citrix they had to sell off all of their SaaS business. So we were weeks away from the deal not going through, right? Not because of something we did, not because of something Citrix did, an…”

“They actually paid more because they didn't have to find expensive positions for me and my co-founder to be in and stupid titles, right? So they paid more cash upfront to not deal with that.”

“And the later years we spent 12 and a half million dollars on radio, right?”