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Aug 15, 2017 · 20m · top-founders

752: They Think Retailers Want Their Own Version of Amazon

Nathan Latka · 9m spoken Adrien Nussenbaum · 8m 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 episode of The Top, host Nathan Latka interviews Mirakl co-founder and CEO Adrien Nussenbaum, exploring how the company powers third-party online marketplaces for major retailers, its GMV-linked SaaS monetization model, and its scaling strategy to over 120 enterprise clients.

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 52.1% of the talking time here. How this is scored →

Nathan as informed peer 4.5 Guest teaching 4.5 Guest disagreement 2.3 Nathan pushing back 4.5
05100:0010:0020:000:49–3:32 · Nathan as informed peer 4/10 Introducing Mirakl and the Third-Party Marketplace Model Nathan tries to map Mirakl to the Salesforce AppExchange and direct Amazon competition, prompting Adrien to clarify that Mirakl provides backend marketplace infrastructure for retailers like Best Buy to curate third-party inventory.3:32–9:13 · Nathan as informed peer 5/10 Mirakl's Monetization, Commission Structure, and Attribution Nathan aggressively drills into commission percentages and poses a scenario where retailers might dispute attribution on successful new SKUs. Adrien explains that these SKUs are entirely third-party sourced and managed through Mirakl's platform, leading Nathan to admit he had the wrong mental model.9:13–13:24 · Nathan as informed peer 4/10 Founding History, Prior Exit to Fnac, and Co-Founder Dynamics Nathan inquires about Adrien's prior exit to Fnac, capital structure, and co-founder equity splits. Adrien engages comfortably, joking about his banking career taking place when Nathan was still in kindergarten.13:24–16:51 · Nathan as informed peer 5/10 Team Composition, Enterprise Sales Cycles, and Customer Acquisition Nathan pushes for specific metrics around monthly marketing spend and payback periods. When Adrien pivots to discussing enterprise digital transformation sales cycles, Nathan interrupts to force a concrete range and payback timeline.0:49–3:32 · Guest teaching 5/10 Introducing Mirakl and the Third-Party Marketplace Model Nathan tries to map Mirakl to the Salesforce AppExchange and direct Amazon competition, prompting Adrien to clarify that Mirakl provides backend marketplace infrastructure for retailers like Best Buy to curate third-party inventory.3:32–9:13 · Guest teaching 7/10 Mirakl's Monetization, Commission Structure, and Attribution Nathan aggressively drills into commission percentages and poses a scenario where retailers might dispute attribution on successful new SKUs. Adrien explains that these SKUs are entirely third-party sourced and managed through Mirakl's platform, leading Nathan to admit he had the wrong mental model.9:13–13:24 · Guest teaching 2/10 Founding History, Prior Exit to Fnac, and Co-Founder Dynamics Nathan inquires about Adrien's prior exit to Fnac, capital structure, and co-founder equity splits. Adrien engages comfortably, joking about his banking career taking place when Nathan was still in kindergarten.13:24–16:51 · Guest teaching 4/10 Team Composition, Enterprise Sales Cycles, and Customer Acquisition Nathan pushes for specific metrics around monthly marketing spend and payback periods. When Adrien pivots to discussing enterprise digital transformation sales cycles, Nathan interrupts to force a concrete range and payback timeline.0:49–3:32 · Guest disagreement 2/10 Introducing Mirakl and the Third-Party Marketplace Model Nathan tries to map Mirakl to the Salesforce AppExchange and direct Amazon competition, prompting Adrien to clarify that Mirakl provides backend marketplace infrastructure for retailers like Best Buy to curate third-party inventory.3:32–9:13 · Guest disagreement 3/10 Mirakl's Monetization, Commission Structure, and Attribution Nathan aggressively drills into commission percentages and poses a scenario where retailers might dispute attribution on successful new SKUs. Adrien explains that these SKUs are entirely third-party sourced and managed through Mirakl's platform, leading Nathan to admit he had the wrong mental model.9:13–13:24 · Guest disagreement 2/10 Founding History, Prior Exit to Fnac, and Co-Founder Dynamics Nathan inquires about Adrien's prior exit to Fnac, capital structure, and co-founder equity splits. Adrien engages comfortably, joking about his banking career taking place when Nathan was still in kindergarten.13:24–16:51 · Guest disagreement 2/10 Team Composition, Enterprise Sales Cycles, and Customer Acquisition Nathan pushes for specific metrics around monthly marketing spend and payback periods. When Adrien pivots to discussing enterprise digital transformation sales cycles, Nathan interrupts to force a concrete range and payback timeline.0:49–3:32 · Nathan pushing back 3/10 Introducing Mirakl and the Third-Party Marketplace Model Nathan tries to map Mirakl to the Salesforce AppExchange and direct Amazon competition, prompting Adrien to clarify that Mirakl provides backend marketplace infrastructure for retailers like Best Buy to curate third-party inventory.3:32–9:13 · Nathan pushing back 6/10 Mirakl's Monetization, Commission Structure, and Attribution Nathan aggressively drills into commission percentages and poses a scenario where retailers might dispute attribution on successful new SKUs. Adrien explains that these SKUs are entirely third-party sourced and managed through Mirakl's platform, leading Nathan to admit he had the wrong mental model.9:13–13:24 · Nathan pushing back 4/10 Founding History, Prior Exit to Fnac, and Co-Founder Dynamics Nathan inquires about Adrien's prior exit to Fnac, capital structure, and co-founder equity splits. Adrien engages comfortably, joking about his banking career taking place when Nathan was still in kindergarten.13:24–16:51 · Nathan pushing back 5/10 Team Composition, Enterprise Sales Cycles, and Customer Acquisition Nathan pushes for specific metrics around monthly marketing spend and payback periods. When Adrien pivots to discussing enterprise digital transformation sales cycles, Nathan interrupts to force a concrete range and payback timeline.

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

0:00 · Nathan 52.3% · guest 47.7%0:00 · Nathan 52.3% · guest 47.7%3:00 · Nathan 42.7% · guest 57.3%3:00 · Nathan 42.7% · guest 57.3%6:00 · Nathan 44.2% · guest 55.8%6:00 · Nathan 44.2% · guest 55.8%9:00 · Nathan 46.3% · guest 53.7%9:00 · Nathan 46.3% · guest 53.7%12:00 · Nathan 40.2% · guest 59.8%12:00 · Nathan 40.2% · guest 59.8%15:00 · Nathan 62.3% · guest 37.7%15:00 · Nathan 62.3% · guest 37.7%18:00 · Nathan 86.6% · guest 13.4%18:00 · Nathan 86.6% · guest 13.4%
Sharpest disagreement ▶ 13:00 Kindergarten jab

When Nathan asks about his previous banking background, Adrien delivers a sharp, playful punchline noting he was in banking while Nathan was still in kindergarten.

 Hardest push from Nathan ▶ 14:38 Demanding spend numbers and names

Nathan refuses to let Adrien speak in generalities about enterprise marketing, demanding that he name specific publications and provide a concrete monthly spend range.

 Biggest teaching moment ▶ 8:03 Nathan concedes flawed marketplace premise

Adrien explains why internal SKU disputes do not happen because the products are third-party curated dropships, leading Nathan to openly admit he was thinking about the product all wrong.

 Nathan holds their own ▶ 5:06 Nathan maps tiered volume pricing

Nathan demonstrates sharp SaaS business acumen by accurately articulating how enterprise tiered percentage commission structures step down above revenue milestones.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Introducing Mirakl and the Third-Party Marketplace Model 4523 Nathan tries to map Mirakl to the Salesforce AppExchange and direct Amazon competition, prompting Adrien to clarify that Mirakl provides backend marketplace infrastructure for retailers like Best Buy to curate third-party inventory.
Mirakl's Monetization, Commission Structure, and Attribution 5736 Nathan aggressively drills into commission percentages and poses a scenario where retailers might dispute attribution on successful new SKUs. Adrien explains that these SKUs are entirely third-party sourced and managed through Mirakl's platform, leading Nathan to admit he had the wrong mental model.
Founding History, Prior Exit to Fnac, and Co-Founder Dynamics 4224 Nathan inquires about Adrien's prior exit to Fnac, capital structure, and co-founder equity splits. Adrien engages comfortably, joking about his banking career taking place when Nathan was still in kindergarten.
Team Composition, Enterprise Sales Cycles, and Customer Acquisition 5425 Nathan pushes for specific metrics around monthly marketing spend and payback periods. When Adrien pivots to discussing enterprise digital transformation sales cycles, Nathan interrupts to force a concrete range and payback timeline.

Statements from this episode (4)

Assertion Supported
Nussenbaum: Mirakl serves over 125 customers across 25 countries
“So today, Miracle has over a 125 customers in 25 countries.”
Adrien Nussenbaum Aug 15, 2017 ▶ 3:26
Disclosure
Nussenbaum: Mirakl monetizes by taking a cut of client incremental revenue
“Our customers grow their business using the backend technology that we provide, and we take a small cut of the incremental business that they're generated through.”
Adrien Nussenbaum Aug 15, 2017 ▶ 3:43
Disclosure
Nussenbaum: Mirakl co-founders split equity 50-50 plus an idea premium
“We do we do fifty-fifty, but a bit more for the one who came with the idea.”
Adrien Nussenbaum Aug 15, 2017 ▶ 12:07
Disclosure
Nussenbaum: Mirakl targets CAC payback period under one year
“Less than a year.”
Adrien Nussenbaum Aug 15, 2017 ▶ 16:43
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