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May 5, 2021 · 19m · top-founders

$2.4m in SaaS Revenues from Business and Apprentice Marketplace

Mo Abbas · 11m spoken Nathan Latka · 4m spoken
0:00 / 0:00

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In this interview with Nathan Latka, Acadium founder Mo Abbas discusses building an educational apprenticeship marketplace, scaling to $200,000 in monthly revenue, and strategically prioritizing platform quality over unsustainable hypergrowth.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 28.2% of the talking time here. How this is scored →

Nathan as informed peer 4.4 Guest teaching 2.0 Guest disagreement 1.7 Nathan pushing back 4.0
05100:0010:001:31–4:38 · Nathan as informed peer 5/10 Introducing Mo Abbas and Acadium's Apprenticeship Model Latka drills into Acadium's marketplace dynamics, clarifying how active businesses are defined and calculating the pricing structure of 400 dollars per quarter.4:38–7:36 · Nathan as informed peer 5/10 Acadium's Founding Mission to Disrupt Traditional Education Latka listens to Abbas describe the mission of democratizing digital careers and pushes for exact historical founding dates and first-year revenues.7:37–9:53 · Nathan as informed peer 6/10 Current Revenue Run-Rate and Income Share Agreements When Abbas pivots to talking about the company's mission rather than sharing financial numbers, Latka pushes back firmly, stating that mission requires revenue to survive and forcing a specific 200k monthly figure.9:54–12:03 · Nathan as informed peer 5/10 Refocusing on Member Quality After Unsustainable Hypergrowth Latka presses for historical year-over-year revenue comparisons, leading Abbas to openly acknowledge an intentional revenue contraction caused by high churn during early hypergrowth.12:03–14:51 · Nathan as informed peer 7/10 Fundraising History, Unit Economics, and Payback Periods Latka challenges Abbas on claiming profitability, forcing him to clarify that he meant 4 to 1 LTV-to-CAC unit economics rather than cash profitability. Abbas pushes back by explaining why traditional ARR fails to capture marketplace hiring dynamics.14:51–18:43 · Nathan as informed peer 3/10 Streamlining Management and Co-Founder Team Dynamics Latka quizzes Abbas on co-founder friction and conducts the standard Famous Five rapid-fire questions, exploring Abbas's lean management approach and personal background.18:43–19:17 · Nathan as informed peer 0/10 Interview Conclusion and Acadium Growth Metrics Recap Closing monologue where Latka recaps Acadium's core metrics, revenue trajectory, and fundraising history.1:31–4:38 · Guest teaching 2/10 Introducing Mo Abbas and Acadium's Apprenticeship Model Latka drills into Acadium's marketplace dynamics, clarifying how active businesses are defined and calculating the pricing structure of 400 dollars per quarter.4:38–7:36 · Guest teaching 1/10 Acadium's Founding Mission to Disrupt Traditional Education Latka listens to Abbas describe the mission of democratizing digital careers and pushes for exact historical founding dates and first-year revenues.7:37–9:53 · Guest teaching 2/10 Current Revenue Run-Rate and Income Share Agreements When Abbas pivots to talking about the company's mission rather than sharing financial numbers, Latka pushes back firmly, stating that mission requires revenue to survive and forcing a specific 200k monthly figure.9:54–12:03 · Guest teaching 3/10 Refocusing on Member Quality After Unsustainable Hypergrowth Latka presses for historical year-over-year revenue comparisons, leading Abbas to openly acknowledge an intentional revenue contraction caused by high churn during early hypergrowth.12:03–14:51 · Guest teaching 5/10 Fundraising History, Unit Economics, and Payback Periods Latka challenges Abbas on claiming profitability, forcing him to clarify that he meant 4 to 1 LTV-to-CAC unit economics rather than cash profitability. Abbas pushes back by explaining why traditional ARR fails to capture marketplace hiring dynamics.14:51–18:43 · Guest teaching 1/10 Streamlining Management and Co-Founder Team Dynamics Latka quizzes Abbas on co-founder friction and conducts the standard Famous Five rapid-fire questions, exploring Abbas's lean management approach and personal background.18:43–19:17 · Guest teaching 0/10 Interview Conclusion and Acadium Growth Metrics Recap Closing monologue where Latka recaps Acadium's core metrics, revenue trajectory, and fundraising history.1:31–4:38 · Guest disagreement 1/10 Introducing Mo Abbas and Acadium's Apprenticeship Model Latka drills into Acadium's marketplace dynamics, clarifying how active businesses are defined and calculating the pricing structure of 400 dollars per quarter.4:38–7:36 · Guest disagreement 1/10 Acadium's Founding Mission to Disrupt Traditional Education Latka listens to Abbas describe the mission of democratizing digital careers and pushes for exact historical founding dates and first-year revenues.7:37–9:53 · Guest disagreement 2/10 Current Revenue Run-Rate and Income Share Agreements When Abbas pivots to talking about the company's mission rather than sharing financial numbers, Latka pushes back firmly, stating that mission requires revenue to survive and forcing a specific 200k monthly figure.9:54–12:03 · Guest disagreement 2/10 Refocusing on Member Quality After Unsustainable Hypergrowth Latka presses for historical year-over-year revenue comparisons, leading Abbas to openly acknowledge an intentional revenue contraction caused by high churn during early hypergrowth.12:03–14:51 · Guest disagreement 4/10 Fundraising History, Unit Economics, and Payback Periods Latka challenges Abbas on claiming profitability, forcing him to clarify that he meant 4 to 1 LTV-to-CAC unit economics rather than cash profitability. Abbas pushes back by explaining why traditional ARR fails to capture marketplace hiring dynamics.14:51–18:43 · Guest disagreement 2/10 Streamlining Management and Co-Founder Team Dynamics Latka quizzes Abbas on co-founder friction and conducts the standard Famous Five rapid-fire questions, exploring Abbas's lean management approach and personal background.18:43–19:17 · Guest disagreement 0/10 Interview Conclusion and Acadium Growth Metrics Recap Closing monologue where Latka recaps Acadium's core metrics, revenue trajectory, and fundraising history.1:31–4:38 · Nathan pushing back 4/10 Introducing Mo Abbas and Acadium's Apprenticeship Model Latka drills into Acadium's marketplace dynamics, clarifying how active businesses are defined and calculating the pricing structure of 400 dollars per quarter.4:38–7:36 · Nathan pushing back 3/10 Acadium's Founding Mission to Disrupt Traditional Education Latka listens to Abbas describe the mission of democratizing digital careers and pushes for exact historical founding dates and first-year revenues.7:37–9:53 · Nathan pushing back 7/10 Current Revenue Run-Rate and Income Share Agreements When Abbas pivots to talking about the company's mission rather than sharing financial numbers, Latka pushes back firmly, stating that mission requires revenue to survive and forcing a specific 200k monthly figure.9:54–12:03 · Nathan pushing back 5/10 Refocusing on Member Quality After Unsustainable Hypergrowth Latka presses for historical year-over-year revenue comparisons, leading Abbas to openly acknowledge an intentional revenue contraction caused by high churn during early hypergrowth.12:03–14:51 · Nathan pushing back 6/10 Fundraising History, Unit Economics, and Payback Periods Latka challenges Abbas on claiming profitability, forcing him to clarify that he meant 4 to 1 LTV-to-CAC unit economics rather than cash profitability. Abbas pushes back by explaining why traditional ARR fails to capture marketplace hiring dynamics.14:51–18:43 · Nathan pushing back 3/10 Streamlining Management and Co-Founder Team Dynamics Latka quizzes Abbas on co-founder friction and conducts the standard Famous Five rapid-fire questions, exploring Abbas's lean management approach and personal background.18:43–19:17 · Nathan pushing back 0/10 Interview Conclusion and Acadium Growth Metrics Recap Closing monologue where Latka recaps Acadium's core metrics, revenue trajectory, and fundraising history.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 55.5% · guest 44.5%0:00 · Nathan 55.5% · guest 44.5%3:00 · Nathan 20.5% · guest 79.5%3:00 · Nathan 20.5% · guest 79.5%6:00 · Nathan 31.5% · guest 68.5%6:00 · Nathan 31.5% · guest 68.5%9:00 · Nathan 9.9% · guest 90.1%9:00 · Nathan 9.9% · guest 90.1%12:00 · Nathan 17.9% · guest 82.1%12:00 · Nathan 17.9% · guest 82.1%15:00 · Nathan 20.1% · guest 79.9%15:00 · Nathan 20.1% · guest 79.9%18:00 · Nathan 60.7% · guest 39.3%18:00 · Nathan 60.7% · guest 39.3%
Sharpest disagreement ▶ 14:06 Guest rejects traditional SaaS ARR framework

Abbas directly challenges Latka's framing around ARR, arguing that standard recurring revenue metrics do not apply cleanly to an apprenticeship marketplace where success causes customer churn into full-time hires.

 Hardest push from Nathan ▶ 8:35 Host demands actual revenue figures over mission statements

Latka interrupts Abbas's narrative about helping students, sharply countering that a company cannot support its mission without making money and demanding a clear monthly run-rate figure.

 Biggest teaching moment ▶ 14:06 Guest explains positive churn and hiring economics

Abbas educates Latka on marketplace mechanics, showing how apprentices getting hired looks like customer churn on paper but actually serves as expansion potential and proof of platform value.

 Nathan holds their own ▶ 13:32 Host calls out loose definition of profitability

Latka immediately catches Abbas claiming the company is profitable, interrogating whether bank cash exceeded expenses and forcing Abbas to retract to a narrower unit economics claim.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Introducing Mo Abbas and Acadium's Apprenticeship Model 5214 Latka drills into Acadium's marketplace dynamics, clarifying how active businesses are defined and calculating the pricing structure of 400 dollars per quarter.
Acadium's Founding Mission to Disrupt Traditional Education 5113 Latka listens to Abbas describe the mission of democratizing digital careers and pushes for exact historical founding dates and first-year revenues.
Current Revenue Run-Rate and Income Share Agreements 6227 When Abbas pivots to talking about the company's mission rather than sharing financial numbers, Latka pushes back firmly, stating that mission requires revenue to survive and forcing a specific 200k monthly figure.
Refocusing on Member Quality After Unsustainable Hypergrowth 5325 Latka presses for historical year-over-year revenue comparisons, leading Abbas to openly acknowledge an intentional revenue contraction caused by high churn during early hypergrowth.
Fundraising History, Unit Economics, and Payback Periods 7546 Latka challenges Abbas on claiming profitability, forcing him to clarify that he meant 4 to 1 LTV-to-CAC unit economics rather than cash profitability. Abbas pushes back by explaining why traditional ARR fails to capture marketplace hiring dynamics.
Streamlining Management and Co-Founder Team Dynamics 3123 Latka quizzes Abbas on co-founder friction and conducts the standard Famous Five rapid-fire questions, exploring Abbas's lean management approach and personal background.
Interview Conclusion and Acadium Growth Metrics Recap 0000 Closing monologue where Latka recaps Acadium's core metrics, revenue trajectory, and fundraising history.

Statements from this episode (15)

Disclosure
Acadium apprentices work 120 unpaid hours while businesses pay platform fees
“And in exchange for mentorship, They get help from their apprentice. 10 hours a week for three months. It's a 120 hour relationship. And it's totally affordable for businesses. They pay a fee to use the marketplace. They can get one or multiple apprentices. Th…”
Mo Abbas May 5, 2021 ▶ 2:22
Assertion Not checkable as stated
Acadium has over 70,000 apprentices on its platform
“So we have over 70,000 apprentices on our platform.”
Mo Abbas May 5, 2021 ▶ 3:18
Assertion Supported
Acadium charges businesses $400 per quarter for apprentice network access
“It costs 400 dollars a quarter. It's about a hundred bucks a month.”
Mo Abbas May 5, 2021 ▶ 3:53
Assertion Not checkable as stated
Acadium has over 3,000 active businesses on its platform
“Yeah, I think a little more than 3000 businesses.”
Mo Abbas May 5, 2021 ▶ 4:35
Opinion
Abbas argues centralized universities are expensive and fail at job training
“In one world, job training is controlled by centralized institutions, post-secondary institutions that are Very expensive. Costs a lot of money. Only available to a small subset of people. And frankly, do a really bad job.”
Mo Abbas May 5, 2021 ▶ 4:56
Assertion Not checkable as stated
Abbas personally signed Acadium's first 300 business customers via Facebook groups
“And I ended up signing the first 300 businesses myself, just really hustling in Facebook groups.”
Mo Abbas May 5, 2021 ▶ 6:36
Assertion Supported
Acadium has more than doubled its subscription pricing over time
“There's some older customers cause we've actually increased the price over time. We've been more than doubled the price actually.”
Mo Abbas May 5, 2021 ▶ 7:22
Assertion Not checkable as stated
Acadium generates approximately $200,000 in monthly revenue
“It would be around 200,000 dollars in revenue.”
Mo Abbas May 5, 2021 ▶ 8:46
Disclosure
Acadium monetizes apprentices via income share agreements in its Plus program
“We do ISAs on the apprentice side. So there's a small there, you know, apprentices who are dedicated on launching a career in digital marketing. They have the option of joining our Acadian plus program where it's an ISA model. We help them launch their career.…”
Mo Abbas May 5, 2021 ▶ 9:01
Assertion Not checkable as stated
Acadium is growing 15% to 20% following a period of contraction
“So we've been growing 15 to 20% for the last few months, but there was a long period where we were contracting.”
Mo Abbas May 5, 2021 ▶ 11:17
Disclosure
Acadium raised $1 million from Ryan Hoover and 500 Startups
“So we raised about a million dollars from some fantastic investors, Ryan Hoover from Product Hunt Eric Blatchford, who's the CEO of Expedia. We had 500 startups as well.”
Mo Abbas May 5, 2021 ▶ 12:13
Disclosure
Acadium will likely raise capital in 2021 despite reaching profitability
“There is a scenario where this year will be profitable. So we do have an opportunity to, we're going to make a decision where we will likely end up raising because You know, although we'll be profitable this year, the mission of Acadium is super important and …”
Mo Abbas May 5, 2021 ▶ 12:41
Assertion Not checkable as stated
Acadium recovers its customer acquisition costs in under one year
“We get it in sub one year.”
Mo Abbas May 5, 2021 ▶ 13:58
Insight
Abbas cut Acadium's management layers after rapid growth slowed execution speed
“There was a time where, when we were growing very quickly in 2019, and we grew the team to, we had a few different, we had a management team, and it became really, really slow, actually. And that was a bad, that was just a bad thing in general for a startup, i…”
Mo Abbas May 5, 2021 ▶ 15:27
Insight
Abbas claims reading Dune provides valuable long-term perspective for business leaders
“The benefit of Dune is the time horizon. You know, the saga spans over about, over 5000 years. So it really gives you a long-term perspective on things. And I find that to be tremendously valuable in business.”
Mo Abbas May 5, 2021 ▶ 16:36
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