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Feb 22, 2017 · 25m · top-founders

EP 578: Ripple Recruiting Passes 8,000 Ivy League Resumes With 15 Employers Paying $300/mo For Access with Ripple CEO Andrew Myers

Andrew Myers · 13m spoken Nathan Latka · 9m spoken
0:00 / 0:00

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In this episode of The Top, host Nathan Latka interviews Andrew Myers, the 23-year-old co-founder and CEO of Ripple Recruiting, exploring how his startup captured over 8,000 Ivy League resumes and secured enterprise traction to modernize university hiring. Myers outlines Ripple's dual marketplace business model, seed fundraising journey, zero customer churn, and strategic preparations for a multi-million-dollar Series A round.

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 42.6% of the talking time here. How this is scored →

Nathan as informed peer 4.9 Guest teaching 2.5 Guest disagreement 2.4 Nathan pushing back 4.0
05100:0010:0020:000:28–4:11 · Nathan as informed peer 4/10 Weekly Top Tribe Cash Giveaway Announcement Latka opens the show, introduces Myers, and inquires about Ripple Recruiting's marketplace vs SaaS business model and pricing tiers. Myers explains their 3-tier subscription package averaging $300 per month.4:11–8:10 · Nathan as informed peer 5/10 Rejecting Acquisition and Navigating 50/50 Co-Founder Dynamics Latka poses a hypothetical $10M acquisition scenario and questions the risks of a 50/50 founder split. Myers defends their partnership dynamics and reveals they ran up $45k in credit card debt before raising a $700k seed round.8:10–10:30 · Nathan as informed peer 5/10 Customer Traction, Ivy League Resume Dominance, and Investor Pitch Myers presents his growth metrics, highlighting 8,000 Ivy League resumes on Ripple representing 10% of undergrads compared to LinkedIn's 3-5%. Latka drills down into the monthly recurring revenue figures of about $7k.10:30–12:56 · Nathan as informed peer 7/10 Series A Target and Strategic Investor Alignment Latka roleplays as an investor and repeatedly presses Myers to state an exact Series A valuation target on a $2M to $3M raise. Myers dodges naming a valuation cap, prompting Latka to note that pure revenue multiples would not support high valuations.12:56–17:30 · Nathan as informed peer 8/10 Debating Founder Optimism vs. Rational Exit Decisions Latka expresses shock that Myers would turn down a $10M buyout with only $80k in annual run rate, sharing personal founder war stories about liquidation preferences and over-optimism. Myers firmly defends staying independent to capture a share of the $25B recruiting market.17:30–19:37 · Nathan as informed peer 7/10 Zero Customer Churn and Team Dynamics in New York When Myers mentions zero customer churn, Latka challenges him on misunderstanding churn as solely a revenue metric rather than an underlying usage metric. The conversation wraps with lighthearted banter regarding the team's under-25 rental car fees.19:39–23:53 · Nathan as informed peer 3/10 Sponsor Message: Managing Business Finances with FreshBooks Latka reads a FreshBooks sponsor spot and conducts the standard Famous Five rapid-fire segment covering favorite books, CEOs, and work habits.23:53–24:33 · Nathan as informed peer 0/10 Interview Recap and Key Metrics Summary Solo host monologue summarizing Myers's background, startup metrics, and closing with sponsor and giveaway announcements.0:28–4:11 · Guest teaching 3/10 Weekly Top Tribe Cash Giveaway Announcement Latka opens the show, introduces Myers, and inquires about Ripple Recruiting's marketplace vs SaaS business model and pricing tiers. Myers explains their 3-tier subscription package averaging $300 per month.4:11–8:10 · Guest teaching 2/10 Rejecting Acquisition and Navigating 50/50 Co-Founder Dynamics Latka poses a hypothetical $10M acquisition scenario and questions the risks of a 50/50 founder split. Myers defends their partnership dynamics and reveals they ran up $45k in credit card debt before raising a $700k seed round.8:10–10:30 · Guest teaching 6/10 Customer Traction, Ivy League Resume Dominance, and Investor Pitch Myers presents his growth metrics, highlighting 8,000 Ivy League resumes on Ripple representing 10% of undergrads compared to LinkedIn's 3-5%. Latka drills down into the monthly recurring revenue figures of about $7k.10:30–12:56 · Guest teaching 2/10 Series A Target and Strategic Investor Alignment Latka roleplays as an investor and repeatedly presses Myers to state an exact Series A valuation target on a $2M to $3M raise. Myers dodges naming a valuation cap, prompting Latka to note that pure revenue multiples would not support high valuations.12:56–17:30 · Guest teaching 4/10 Debating Founder Optimism vs. Rational Exit Decisions Latka expresses shock that Myers would turn down a $10M buyout with only $80k in annual run rate, sharing personal founder war stories about liquidation preferences and over-optimism. Myers firmly defends staying independent to capture a share of the $25B recruiting market.17:30–19:37 · Guest teaching 2/10 Zero Customer Churn and Team Dynamics in New York When Myers mentions zero customer churn, Latka challenges him on misunderstanding churn as solely a revenue metric rather than an underlying usage metric. The conversation wraps with lighthearted banter regarding the team's under-25 rental car fees.19:39–23:53 · Guest teaching 1/10 Sponsor Message: Managing Business Finances with FreshBooks Latka reads a FreshBooks sponsor spot and conducts the standard Famous Five rapid-fire segment covering favorite books, CEOs, and work habits.23:53–24:33 · Guest teaching 0/10 Interview Recap and Key Metrics Summary Solo host monologue summarizing Myers's background, startup metrics, and closing with sponsor and giveaway announcements.0:28–4:11 · Guest disagreement 1/10 Weekly Top Tribe Cash Giveaway Announcement Latka opens the show, introduces Myers, and inquires about Ripple Recruiting's marketplace vs SaaS business model and pricing tiers. Myers explains their 3-tier subscription package averaging $300 per month.4:11–8:10 · Guest disagreement 3/10 Rejecting Acquisition and Navigating 50/50 Co-Founder Dynamics Latka poses a hypothetical $10M acquisition scenario and questions the risks of a 50/50 founder split. Myers defends their partnership dynamics and reveals they ran up $45k in credit card debt before raising a $700k seed round.8:10–10:30 · Guest disagreement 2/10 Customer Traction, Ivy League Resume Dominance, and Investor Pitch Myers presents his growth metrics, highlighting 8,000 Ivy League resumes on Ripple representing 10% of undergrads compared to LinkedIn's 3-5%. Latka drills down into the monthly recurring revenue figures of about $7k.10:30–12:56 · Guest disagreement 4/10 Series A Target and Strategic Investor Alignment Latka roleplays as an investor and repeatedly presses Myers to state an exact Series A valuation target on a $2M to $3M raise. Myers dodges naming a valuation cap, prompting Latka to note that pure revenue multiples would not support high valuations.12:56–17:30 · Guest disagreement 6/10 Debating Founder Optimism vs. Rational Exit Decisions Latka expresses shock that Myers would turn down a $10M buyout with only $80k in annual run rate, sharing personal founder war stories about liquidation preferences and over-optimism. Myers firmly defends staying independent to capture a share of the $25B recruiting market.17:30–19:37 · Guest disagreement 2/10 Zero Customer Churn and Team Dynamics in New York When Myers mentions zero customer churn, Latka challenges him on misunderstanding churn as solely a revenue metric rather than an underlying usage metric. The conversation wraps with lighthearted banter regarding the team's under-25 rental car fees.19:39–23:53 · Guest disagreement 1/10 Sponsor Message: Managing Business Finances with FreshBooks Latka reads a FreshBooks sponsor spot and conducts the standard Famous Five rapid-fire segment covering favorite books, CEOs, and work habits.23:53–24:33 · Guest disagreement 0/10 Interview Recap and Key Metrics Summary Solo host monologue summarizing Myers's background, startup metrics, and closing with sponsor and giveaway announcements.0:28–4:11 · Nathan pushing back 2/10 Weekly Top Tribe Cash Giveaway Announcement Latka opens the show, introduces Myers, and inquires about Ripple Recruiting's marketplace vs SaaS business model and pricing tiers. Myers explains their 3-tier subscription package averaging $300 per month.4:11–8:10 · Nathan pushing back 5/10 Rejecting Acquisition and Navigating 50/50 Co-Founder Dynamics Latka poses a hypothetical $10M acquisition scenario and questions the risks of a 50/50 founder split. Myers defends their partnership dynamics and reveals they ran up $45k in credit card debt before raising a $700k seed round.8:10–10:30 · Nathan pushing back 3/10 Customer Traction, Ivy League Resume Dominance, and Investor Pitch Myers presents his growth metrics, highlighting 8,000 Ivy League resumes on Ripple representing 10% of undergrads compared to LinkedIn's 3-5%. Latka drills down into the monthly recurring revenue figures of about $7k.10:30–12:56 · Nathan pushing back 7/10 Series A Target and Strategic Investor Alignment Latka roleplays as an investor and repeatedly presses Myers to state an exact Series A valuation target on a $2M to $3M raise. Myers dodges naming a valuation cap, prompting Latka to note that pure revenue multiples would not support high valuations.12:56–17:30 · Nathan pushing back 8/10 Debating Founder Optimism vs. Rational Exit Decisions Latka expresses shock that Myers would turn down a $10M buyout with only $80k in annual run rate, sharing personal founder war stories about liquidation preferences and over-optimism. Myers firmly defends staying independent to capture a share of the $25B recruiting market.17:30–19:37 · Nathan pushing back 5/10 Zero Customer Churn and Team Dynamics in New York When Myers mentions zero customer churn, Latka challenges him on misunderstanding churn as solely a revenue metric rather than an underlying usage metric. The conversation wraps with lighthearted banter regarding the team's under-25 rental car fees.19:39–23:53 · Nathan pushing back 2/10 Sponsor Message: Managing Business Finances with FreshBooks Latka reads a FreshBooks sponsor spot and conducts the standard Famous Five rapid-fire segment covering favorite books, CEOs, and work habits.23:53–24:33 · Nathan pushing back 0/10 Interview Recap and Key Metrics Summary Solo host monologue summarizing Myers's background, startup metrics, and closing with sponsor and giveaway announcements.

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

0:00 · Nathan 67.2% · guest 32.8%0:00 · Nathan 67.2% · guest 32.8%3:00 · Nathan 22.6% · guest 77.4%3:00 · Nathan 22.6% · guest 77.4%6:00 · Nathan 37.8% · guest 62.2%6:00 · Nathan 37.8% · guest 62.2%9:00 · Nathan 22.4% · guest 77.6%9:00 · Nathan 22.4% · guest 77.6%12:00 · Nathan 42.4% · guest 57.6%12:00 · Nathan 42.4% · guest 57.6%15:00 · Nathan 34.2% · guest 65.8%15:00 · Nathan 34.2% · guest 65.8%18:00 · Nathan 64% · guest 36%18:00 · Nathan 64% · guest 36%21:00 · Nathan 17.2% · guest 82.8%21:00 · Nathan 17.2% · guest 82.8%24:00 · Nathan 99% · guest 1%24:00 · Nathan 99% · guest 1%
Sharpest disagreement ▶ 15:30 Myers refutes taking a $10M exit over building a market leader

Myers rejects Latka's suggestion that turning down $10M at his revenue level is foolish, arguing that their marketplace momentum and client list justify chasing the $25B recruiting market.

 Hardest push from Nathan ▶ 13:07 Latka challenges founder optimism against financial exit realities

Latka refuses to accept Myers passing on a $10M acquisition at only $7k MRR, challenging him with warnings about liquidation preferences and dilution traps.

 Biggest teaching moment ▶ 9:20 Myers highlights Ripple outperforming LinkedIn on Ivy League resumes

Myers educates Latka with precise data points showing Ripple has captured 10% of Ivy League students compared to LinkedIn's 3-5% penetration.

 Nathan holds their own ▶ 17:56 Latka re-educates founder on KPI usage churn versus revenue churn

Latka corrects Myers's interpretation of churn, explaining why value-metric engagement KPIs are far more predictive of SaaS retention than early revenue numbers.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Weekly Top Tribe Cash Giveaway Announcement 4312 Latka opens the show, introduces Myers, and inquires about Ripple Recruiting's marketplace vs SaaS business model and pricing tiers. Myers explains their 3-tier subscription package averaging $300 per month.
Rejecting Acquisition and Navigating 50/50 Co-Founder Dynamics 5235 Latka poses a hypothetical $10M acquisition scenario and questions the risks of a 50/50 founder split. Myers defends their partnership dynamics and reveals they ran up $45k in credit card debt before raising a $700k seed round.
Customer Traction, Ivy League Resume Dominance, and Investor Pitch 5623 Myers presents his growth metrics, highlighting 8,000 Ivy League resumes on Ripple representing 10% of undergrads compared to LinkedIn's 3-5%. Latka drills down into the monthly recurring revenue figures of about $7k.
Series A Target and Strategic Investor Alignment 7247 Latka roleplays as an investor and repeatedly presses Myers to state an exact Series A valuation target on a $2M to $3M raise. Myers dodges naming a valuation cap, prompting Latka to note that pure revenue multiples would not support high valuations.
Debating Founder Optimism vs. Rational Exit Decisions 8468 Latka expresses shock that Myers would turn down a $10M buyout with only $80k in annual run rate, sharing personal founder war stories about liquidation preferences and over-optimism. Myers firmly defends staying independent to capture a share of the $25B recruiting market.
Zero Customer Churn and Team Dynamics in New York 7225 When Myers mentions zero customer churn, Latka challenges him on misunderstanding churn as solely a revenue metric rather than an underlying usage metric. The conversation wraps with lighthearted banter regarding the team's under-25 rental car fees.
Sponsor Message: Managing Business Finances with FreshBooks 3112 Latka reads a FreshBooks sponsor spot and conducts the standard Famous Five rapid-fire segment covering favorite books, CEOs, and work habits.
Interview Recap and Key Metrics Summary 0000 Solo host monologue summarizing Myers's background, startup metrics, and closing with sponsor and giveaway announcements.

Statements from this episode (17)

Assertion Not publicly verifiable
Myers: Ripple subscription pricing ranges from $95 to $795 per month
“So the light package on a monthly basis is 95 dollars and then the premium is 795 dollars.”
Andrew Myers Feb 22, 2017 ▶ 3:06
Assertion Not checkable as stated
Myers: Ripple Recruiting average contract size is about $300 monthly
“So I might say our average contract size is about 300 dollars a month right now.”
Andrew Myers Feb 22, 2017 ▶ 3:12
Opinion
Myers: Ripple's platform is already more powerful than LinkedIn for students
“I think I really believe we can build a system that's way more, I mean, it's already way more powerful than what LinkedIn has.”
Andrew Myers Feb 22, 2017 ▶ 4:27
Assertion Not checkable as stated
Myers: Ripple founders accumulated $45k in debt during early days
“We probably by the end, we're close to, you know, 45,000 dollars in debt total.”
Andrew Myers Feb 22, 2017 ▶ 6:37
Assertion Supported
Myers: Kevin Ryan led Ripple Recruiting's $700k seed round
“So we raised a 700,000 dollar seed round, which Kevin Ryan, who founded MongoDB and Gilt and has done a lot in the tech space in New York actually led.”
Andrew Myers Feb 22, 2017 ▶ 7:00
Disclosure
Myers: Ripple Recruiting has about 15 paying clients
“So at the moment we have about 15 paying clients.”
Andrew Myers Feb 22, 2017 ▶ 8:20
Disclosure
Myers: Ripple Recruiting averages about $7,000 monthly recurring revenue
“In, in, in terms of monthly revenue in a recurring sense, I'd say we're averaging about, you know, 7000 dollars a month in revenue.”
Andrew Myers Feb 22, 2017 ▶ 8:42
Assertion Not checkable as stated
Myers: Over 10% of Ivy League undergrads are on Ripple Recruiting
“We've had 8000 Ivy League students sign up for the platform. I mean, over 10% of Ivy League undergrads have their resumes on Ripple at this point.”
Andrew Myers Feb 22, 2017 ▶ 9:07
Assertion Not checkable as stated
Myers: LinkedIn has only 3% to 5% of Ivy League resumes
“LinkedIn only has about three to five percent of Ivy League resumes on their platform.”
Andrew Myers Feb 22, 2017 ▶ 9:37
Disclosure
Ripple Recruiting Plans to Raise $2M-$3M for Series A
“So we'll probably raise two to three million dollars in our series A round.”
Andrew Myers Feb 22, 2017 ▶ 11:17
Insight
Myers: Maximizing Series A Valuation Hurts Subsequent Rounds
“I think a lot of companies make the mistake in series a round and sort of grabbing, you know, the biggest valuation they can possibly get away with. And I think that makes it tough in the following rounds.”
Andrew Myers Feb 22, 2017 ▶ 11:37
Disclosure
Myers: Ripple would reject a $10 million acquisition offer
“I think we definitely wouldn't.”
Andrew Myers Feb 22, 2017 ▶ 13:08
Prediction Not checkable as stated
Myers: Ripple can reach 100,000 top US students in one year
“There's absolutely no reason we can't have a 100,000 of the top students in the country on our platform a year from now.”
Andrew Myers Feb 22, 2017 ▶ 13:40
Assertion Not checkable as stated
Myers: Ripple Recruiting Has About 10,000 Students on Platform
“So we have about 10 K total on the platform, sort of early weeks of expansion.”
Andrew Myers Feb 22, 2017 ▶ 14:37
Assertion Contradicted
Myers: The College Recruiting Market Is Worth $25 Billion
“The college recruiting market's twenty five billion dollars.”
Andrew Myers Feb 22, 2017 ▶ 15:48
Assertion Partly supported
Myers: Teach for America and MassMutual Are Ripple Clients
“When you look at Teach for America, you look at Venture for America, you've got Mass Mutual, Cardinal Health, a lot of our bigger clients. I mean, these are massive companies that are getting huge value from the platform.”
Andrew Myers Feb 22, 2017 ▶ 16:02
Prediction Not checkable as stated
Myers: Ripple Projects 20,000 Annual Student Hires by 2021
“We think by like, 2021 is kind of what we're putting in our projections right now. We could easily see 20,000 students hired through ripple. And I think that's, you know, the goal we're really working towards annually.”
Andrew Myers Feb 22, 2017 ▶ 17:13
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