Nov 18, 2018 · 22m · top-founders

1212 Chatbot company SmartAssistant: We'll pass $50m in next few quarters

Marcus Linder · 12m spoken Nathan Latka · 7m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this interview with Nathan Latka, SmartAssistant co-founder Marcus Linder outlines how the guided-selling software provider pivoted from a services agency into an enterprise SaaS business generating over $12 million in ARR. Linder details the company's $9 million in venture capital, efficient unit economics, and his deliberate decision to step down as CEO to help scale the business toward $50 million in revenue.

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 38.4% of the talking time here. How this is scored →

Nathan as informed peer 5.9 Guest teaching 3.1 Guest disagreement 3.4 Nathan pushing back 5.3
05100:0010:0020:002:25–4:50 · Nathan as informed peer 5/10 SmartAssistant Product Overview and Guided Selling Capabilities Nathan tries to box the product into simple e-commerce question-based selling, but Marcus educates him that the platform handles complex digital advice across banking, telcos, and customer service troubleshooting.4:51–7:14 · Nathan as informed peer 6/10 Pricing Architecture and Enterprise Contract Tiers When Marcus attempts to avoid giving an average customer price by pointing to their freemium tier, Nathan cuts in firmly to keep the conversation on track and force an enterprise range.7:15–9:36 · Nathan as informed peer 5/10 Customer Milestone Scale and Year-Over-Year Growth Nathan presses Marcus on vague triple-digit growth claims until he confirms a realistic 100% to 200% year-over-year bracket.9:36–11:42 · Nathan as informed peer 3/10 Global Office Footprint and Distributed Team Structure Marcus shares the operational story behind setting up hubs in New York and Austin, while Nathan listens and runs a mid-roll sponsorship read.11:44–13:48 · Nathan as informed peer 7/10 Customer Retention, Retail Churn, and Account Expansion Dynamics Nathan displays SaaS expertise by drilling into gross versus net retention metrics, while Marcus provides color on churn stemming from legacy retail clients going out of business.13:48–17:25 · Nathan as informed peer 8/10 Go-to-Market Economics, CAC Payback, and Lifetime Value A tense dynamic emerges as Marcus retreats to freemium metrics when asked about ACV, prompting Nathan to call out contradictory figures and demand mathematical consistency on averages.17:25–21:53 · Nathan as informed peer 7/10 Targeting the $50M ARR Target Milestone Marcus points out Nathan's relentless probing for revenue numbers, leading Nathan to bluntly justify his methods by calling out founders who exaggerate their scale.2:25–4:50 · Guest teaching 6/10 SmartAssistant Product Overview and Guided Selling Capabilities Nathan tries to box the product into simple e-commerce question-based selling, but Marcus educates him that the platform handles complex digital advice across banking, telcos, and customer service troubleshooting.4:51–7:14 · Guest teaching 3/10 Pricing Architecture and Enterprise Contract Tiers When Marcus attempts to avoid giving an average customer price by pointing to their freemium tier, Nathan cuts in firmly to keep the conversation on track and force an enterprise range.7:15–9:36 · Guest teaching 2/10 Customer Milestone Scale and Year-Over-Year Growth Nathan presses Marcus on vague triple-digit growth claims until he confirms a realistic 100% to 200% year-over-year bracket.9:36–11:42 · Guest teaching 2/10 Global Office Footprint and Distributed Team Structure Marcus shares the operational story behind setting up hubs in New York and Austin, while Nathan listens and runs a mid-roll sponsorship read.11:44–13:48 · Guest teaching 4/10 Customer Retention, Retail Churn, and Account Expansion Dynamics Nathan displays SaaS expertise by drilling into gross versus net retention metrics, while Marcus provides color on churn stemming from legacy retail clients going out of business.13:48–17:25 · Guest teaching 3/10 Go-to-Market Economics, CAC Payback, and Lifetime Value A tense dynamic emerges as Marcus retreats to freemium metrics when asked about ACV, prompting Nathan to call out contradictory figures and demand mathematical consistency on averages.17:25–21:53 · Guest teaching 2/10 Targeting the $50M ARR Target Milestone Marcus points out Nathan's relentless probing for revenue numbers, leading Nathan to bluntly justify his methods by calling out founders who exaggerate their scale.2:25–4:50 · Guest disagreement 3/10 SmartAssistant Product Overview and Guided Selling Capabilities Nathan tries to box the product into simple e-commerce question-based selling, but Marcus educates him that the platform handles complex digital advice across banking, telcos, and customer service troubleshooting.4:51–7:14 · Guest disagreement 4/10 Pricing Architecture and Enterprise Contract Tiers When Marcus attempts to avoid giving an average customer price by pointing to their freemium tier, Nathan cuts in firmly to keep the conversation on track and force an enterprise range.7:15–9:36 · Guest disagreement 2/10 Customer Milestone Scale and Year-Over-Year Growth Nathan presses Marcus on vague triple-digit growth claims until he confirms a realistic 100% to 200% year-over-year bracket.9:36–11:42 · Guest disagreement 1/10 Global Office Footprint and Distributed Team Structure Marcus shares the operational story behind setting up hubs in New York and Austin, while Nathan listens and runs a mid-roll sponsorship read.11:44–13:48 · Guest disagreement 2/10 Customer Retention, Retail Churn, and Account Expansion Dynamics Nathan displays SaaS expertise by drilling into gross versus net retention metrics, while Marcus provides color on churn stemming from legacy retail clients going out of business.13:48–17:25 · Guest disagreement 6/10 Go-to-Market Economics, CAC Payback, and Lifetime Value A tense dynamic emerges as Marcus retreats to freemium metrics when asked about ACV, prompting Nathan to call out contradictory figures and demand mathematical consistency on averages.17:25–21:53 · Guest disagreement 6/10 Targeting the $50M ARR Target Milestone Marcus points out Nathan's relentless probing for revenue numbers, leading Nathan to bluntly justify his methods by calling out founders who exaggerate their scale.2:25–4:50 · Nathan pushing back 4/10 SmartAssistant Product Overview and Guided Selling Capabilities Nathan tries to box the product into simple e-commerce question-based selling, but Marcus educates him that the platform handles complex digital advice across banking, telcos, and customer service troubleshooting.4:51–7:14 · Nathan pushing back 7/10 Pricing Architecture and Enterprise Contract Tiers When Marcus attempts to avoid giving an average customer price by pointing to their freemium tier, Nathan cuts in firmly to keep the conversation on track and force an enterprise range.7:15–9:36 · Nathan pushing back 5/10 Customer Milestone Scale and Year-Over-Year Growth Nathan presses Marcus on vague triple-digit growth claims until he confirms a realistic 100% to 200% year-over-year bracket.9:36–11:42 · Nathan pushing back 1/10 Global Office Footprint and Distributed Team Structure Marcus shares the operational story behind setting up hubs in New York and Austin, while Nathan listens and runs a mid-roll sponsorship read.11:44–13:48 · Nathan pushing back 4/10 Customer Retention, Retail Churn, and Account Expansion Dynamics Nathan displays SaaS expertise by drilling into gross versus net retention metrics, while Marcus provides color on churn stemming from legacy retail clients going out of business.13:48–17:25 · Nathan pushing back 8/10 Go-to-Market Economics, CAC Payback, and Lifetime Value A tense dynamic emerges as Marcus retreats to freemium metrics when asked about ACV, prompting Nathan to call out contradictory figures and demand mathematical consistency on averages.17:25–21:53 · Nathan pushing back 8/10 Targeting the $50M ARR Target Milestone Marcus points out Nathan's relentless probing for revenue numbers, leading Nathan to bluntly justify his methods by calling out founders who exaggerate their scale.

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

0:00 · Nathan 60.7% · guest 39.3%0:00 · Nathan 60.7% · guest 39.3%3:00 · Nathan 22.9% · guest 77.1%3:00 · Nathan 22.9% · guest 77.1%6:00 · Nathan 18.8% · guest 81.2%6:00 · Nathan 18.8% · guest 81.2%9:00 · Nathan 38.1% · guest 61.9%9:00 · Nathan 38.1% · guest 61.9%12:00 · Nathan 23.4% · guest 76.6%12:00 · Nathan 23.4% · guest 76.6%15:00 · Nathan 49.8% · guest 50.2%15:00 · Nathan 49.8% · guest 50.2%18:00 · Nathan 47.7% · guest 52.3%18:00 · Nathan 47.7% · guest 52.3%21:00 · Nathan 51.6% · guest 48.4%21:00 · Nathan 51.6% · guest 48.4%
Sharpest disagreement ▶ 17:41 Marcus calls out Nathan's relentless interrogation tactics

Marcus openly pushes back on Nathan's questioning style by remarking on how many ways he tries to pry out private financial figures before shutting down further comment.

Hardest push from Nathan ▶ 16:03 Nathan insists on mathematical precision regarding average ACV

Nathan rejects Marcus's attempt to conflate wide contract ranges and freemium accounts with an average contract value.

Biggest teaching moment ▶ 3:41 Marcus corrects Nathan on SmartAssistant's scope

Marcus reframes the entire company thesis, showing Nathan that digital advice spans far beyond simple e-commerce recommendations into banking support and guided troubleshooting.

Nathan holds their own ▶ 15:03 Nathan corners Marcus using his own previously stated metrics

Nathan immediately catches Marcus backpedaling on pricing and uses mental math on Marcus's earlier monthly figures to calculate annualized contract minimums.

the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
SmartAssistant Product Overview and Guided Selling Capabilities 5634 Nathan tries to box the product into simple e-commerce question-based selling, but Marcus educates him that the platform handles complex digital advice across banking, telcos, and customer service troubleshooting.
Pricing Architecture and Enterprise Contract Tiers 6347 When Marcus attempts to avoid giving an average customer price by pointing to their freemium tier, Nathan cuts in firmly to keep the conversation on track and force an enterprise range.
Customer Milestone Scale and Year-Over-Year Growth 5225 Nathan presses Marcus on vague triple-digit growth claims until he confirms a realistic 100% to 200% year-over-year bracket.
Global Office Footprint and Distributed Team Structure 3211 Marcus shares the operational story behind setting up hubs in New York and Austin, while Nathan listens and runs a mid-roll sponsorship read.
Customer Retention, Retail Churn, and Account Expansion Dynamics 7424 Nathan displays SaaS expertise by drilling into gross versus net retention metrics, while Marcus provides color on churn stemming from legacy retail clients going out of business.
Go-to-Market Economics, CAC Payback, and Lifetime Value 8368 A tense dynamic emerges as Marcus retreats to freemium metrics when asked about ACV, prompting Nathan to call out contradictory figures and demand mathematical consistency on averages.
Targeting the $50M ARR Target Milestone 7268 Marcus points out Nathan's relentless probing for revenue numbers, leading Nathan to bluntly justify his methods by calling out founders who exaggerate their scale.

Statements from this episode (15)

Disclosure
Marcus Linder steps down as SmartAssistant CEO to become President
“Yeah, I'm now a president and CMO of the company, so we decided to bring a new CEO on board, like an external, very experienced CEO, because we see a huge opportunity, and we're growing like crazy, and at the same time, none of us, to be honest, had a proper j…”
Marcus Linder Nov 18, 2018 ▶ 1:55
Disclosure
SmartAssistant's large enterprise contracts reach into the millions
“Our large customers, you know it goes up into the millions, so it's difficult.”
Marcus Linder Nov 18, 2018 ▶ 5:11
Disclosure
SmartAssistant customers pay $10k to $100k-plus per month
“So multiple 10 to a 100,000 and more per month.”
Marcus Linder Nov 18, 2018 ▶ 5:31
Disclosure
SmartAssistant raised $3M from SAP Hybris founders
“So we raised about three million dollars from angel investors the original founders of SAP Hybris.”
Marcus Linder Nov 18, 2018 ▶ 6:32
Disclosure
SmartAssistant raised a $6M equity round from a UK VC
“So 1617, we got ABC on board. UK West based DC we did a six million dollar out.”
Marcus Linder Nov 18, 2018 ▶ 6:57
Assertion Not checkable as stated
SmartAssistant has scaled to over 100 enterprise customers
“We have, with more than a hundred customers.”
Marcus Linder Nov 18, 2018 ▶ 7:22
Assertion Supported
SmartAssistant employs over 100 people across the US and Europe
“We have in terms of the teams, we have more than a hundred team members across U.S., Europe”
Marcus Linder Nov 18, 2018 ▶ 7:26
Assertion Not checkable as stated
SmartAssistant revenue grows at triple-digit percentages year-over-year
“Growing at triple, triple digit percent year over year.”
Marcus Linder Nov 18, 2018 ▶ 7:33
Assertion Not checkable as stated
Founders initiated SmartAssistant CEO replacement and convinced the board
“That was after the round. We went to our board and said, Hey guys we had to convince them actually”
Marcus Linder Nov 18, 2018 ▶ 8:51
Assertion Not checkable as stated
SmartAssistant maintains single-digit annual gross churn
“Churn, we have a single figure churn rate in terms of annual churn.”
Marcus Linder Nov 18, 2018 ▶ 11:46
Assertion Not checkable as stated
Struggling early retail clients drive SmartAssistant's customer churn
“And churn really clearly comes just from one segment, which is retail. Our early retail customers are in serious troubles at the moment and just simply can't pull that strategy off anymore to become their customer's trusted advisor and don't have the manpower …”
Marcus Linder Nov 18, 2018 ▶ 12:20
Assertion Not checkable as stated
SmartAssistant's annual net revenue retention exceeds 110%
“Yeah. In the range 110 plus.”
Marcus Linder Nov 18, 2018 ▶ 12:51
Assertion Not checkable as stated
SmartAssistant's CAC payback period is approximately one year
“The payback time is at around one year at the moment.”
Marcus Linder Nov 18, 2018 ▶ 14:40
Assertion Not checkable as stated
SmartAssistant achieves an 8x to 9x LTV to CAC ratio
“The ratio between customer acquisition cost lifetime value is at about eight, nine.”
Marcus Linder Nov 18, 2018 ▶ 16:45
Assertion Not checkable as stated
SmartAssistant's annual revenue remains significantly below $100 million
“We want we are still significantly below the hundred million, unfortunately.”
Marcus Linder Nov 18, 2018 ▶ 18:10
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