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Nov 11, 2016 · 31m · top-founders

EP 475: VayStays Helps 150,000+ Quickly Plan Vacations, $5M In TTM Transaction Volume with CEO Chris Brusznicki

Chris Brusnicki · 18m spoken Nathan Latka · 9m 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 VayStays founder and CEO Chris Brusnicki, exploring how the company scaled to $5 million in gross marketplace volume, raised $1.5 million in venture funding, and expanded into SaaS distribution for professional vacation rental managers.

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 35.3% of the talking time here. How this is scored →

Nathan as informed peer 4.9 Guest teaching 2.4 Guest disagreement 0.9 Nathan pushing back 3.5
05100:0010:0020:0030:000:27–4:48 · Nathan as informed peer 4/10 Weekly Contest Winner and Subscription Call to Action Nathan introduces the guest and quickly zeroes in on clarifying the core business model, gross transaction volume, and commission rate.4:49–8:04 · Nathan as informed peer 4/10 Team Operations and Target Seller Profile Nathan asks detailed questions about unit economics, average order values, and the distinction between individual hosts and professional property managers.8:05–10:44 · Nathan as informed peer 5/10 Commission Breakdown and Custom Property Matching Nathan digs into fee mechanics and compares dynamic pricing to Uber, prompting Chris to explain why unique vacation properties cannot be treated as commoditized inventory.10:46–14:58 · Nathan as informed peer 7/10 Strategic Pivot to SaaS and Enterprise Distribution Nathan challenges Chris on whether their 1.5% take rate product is truly SaaS and points out that the offering risks cannibalizing their own core marketplace.14:59–18:46 · Nathan as informed peer 9/10 Clarifying Booking Metrics, User Base, and Seasonality Nathan catches major discrepancies in Chris's monthly versus lifetime user and booking figures in real-time, walking through the arithmetic until Chris admits his factor-of-ten math error.18:47–24:18 · Nathan as informed peer 7/10 Fundraising Journey, Valuation, and Growth Milestones Nathan calculates the company's net revenue run rate and pushes Chris to disclose valuation ranges and acquisition offer values.24:18–29:44 · Nathan as informed peer 3/10 How to Connect with Chris Brusnicki Online Nathan walks through the Famous Five rapid-fire questions, where Chris shares reflections on sleep deprivation from newborn twins and fundraising advice.29:44–30:14 · Nathan as informed peer 0/10 Episode Summary and Key Takeaways Nathan delivers a solo outro summarizing the company metrics and running promotional announcements.0:27–4:48 · Guest teaching 3/10 Weekly Contest Winner and Subscription Call to Action Nathan introduces the guest and quickly zeroes in on clarifying the core business model, gross transaction volume, and commission rate.4:49–8:04 · Guest teaching 3/10 Team Operations and Target Seller Profile Nathan asks detailed questions about unit economics, average order values, and the distinction between individual hosts and professional property managers.8:05–10:44 · Guest teaching 4/10 Commission Breakdown and Custom Property Matching Nathan digs into fee mechanics and compares dynamic pricing to Uber, prompting Chris to explain why unique vacation properties cannot be treated as commoditized inventory.10:46–14:58 · Guest teaching 3/10 Strategic Pivot to SaaS and Enterprise Distribution Nathan challenges Chris on whether their 1.5% take rate product is truly SaaS and points out that the offering risks cannibalizing their own core marketplace.14:59–18:46 · Guest teaching 1/10 Clarifying Booking Metrics, User Base, and Seasonality Nathan catches major discrepancies in Chris's monthly versus lifetime user and booking figures in real-time, walking through the arithmetic until Chris admits his factor-of-ten math error.18:47–24:18 · Guest teaching 3/10 Fundraising Journey, Valuation, and Growth Milestones Nathan calculates the company's net revenue run rate and pushes Chris to disclose valuation ranges and acquisition offer values.24:18–29:44 · Guest teaching 2/10 How to Connect with Chris Brusnicki Online Nathan walks through the Famous Five rapid-fire questions, where Chris shares reflections on sleep deprivation from newborn twins and fundraising advice.29:44–30:14 · Guest teaching 0/10 Episode Summary and Key Takeaways Nathan delivers a solo outro summarizing the company metrics and running promotional announcements.0:27–4:48 · Guest disagreement 1/10 Weekly Contest Winner and Subscription Call to Action Nathan introduces the guest and quickly zeroes in on clarifying the core business model, gross transaction volume, and commission rate.4:49–8:04 · Guest disagreement 1/10 Team Operations and Target Seller Profile Nathan asks detailed questions about unit economics, average order values, and the distinction between individual hosts and professional property managers.8:05–10:44 · Guest disagreement 1/10 Commission Breakdown and Custom Property Matching Nathan digs into fee mechanics and compares dynamic pricing to Uber, prompting Chris to explain why unique vacation properties cannot be treated as commoditized inventory.10:46–14:58 · Guest disagreement 2/10 Strategic Pivot to SaaS and Enterprise Distribution Nathan challenges Chris on whether their 1.5% take rate product is truly SaaS and points out that the offering risks cannibalizing their own core marketplace.14:59–18:46 · Guest disagreement 1/10 Clarifying Booking Metrics, User Base, and Seasonality Nathan catches major discrepancies in Chris's monthly versus lifetime user and booking figures in real-time, walking through the arithmetic until Chris admits his factor-of-ten math error.18:47–24:18 · Guest disagreement 1/10 Fundraising Journey, Valuation, and Growth Milestones Nathan calculates the company's net revenue run rate and pushes Chris to disclose valuation ranges and acquisition offer values.24:18–29:44 · Guest disagreement 0/10 How to Connect with Chris Brusnicki Online Nathan walks through the Famous Five rapid-fire questions, where Chris shares reflections on sleep deprivation from newborn twins and fundraising advice.29:44–30:14 · Guest disagreement 0/10 Episode Summary and Key Takeaways Nathan delivers a solo outro summarizing the company metrics and running promotional announcements.0:27–4:48 · Nathan pushing back 3/10 Weekly Contest Winner and Subscription Call to Action Nathan introduces the guest and quickly zeroes in on clarifying the core business model, gross transaction volume, and commission rate.4:49–8:04 · Nathan pushing back 2/10 Team Operations and Target Seller Profile Nathan asks detailed questions about unit economics, average order values, and the distinction between individual hosts and professional property managers.8:05–10:44 · Nathan pushing back 3/10 Commission Breakdown and Custom Property Matching Nathan digs into fee mechanics and compares dynamic pricing to Uber, prompting Chris to explain why unique vacation properties cannot be treated as commoditized inventory.10:46–14:58 · Nathan pushing back 6/10 Strategic Pivot to SaaS and Enterprise Distribution Nathan challenges Chris on whether their 1.5% take rate product is truly SaaS and points out that the offering risks cannibalizing their own core marketplace.14:59–18:46 · Nathan pushing back 8/10 Clarifying Booking Metrics, User Base, and Seasonality Nathan catches major discrepancies in Chris's monthly versus lifetime user and booking figures in real-time, walking through the arithmetic until Chris admits his factor-of-ten math error.18:47–24:18 · Nathan pushing back 5/10 Fundraising Journey, Valuation, and Growth Milestones Nathan calculates the company's net revenue run rate and pushes Chris to disclose valuation ranges and acquisition offer values.24:18–29:44 · Nathan pushing back 1/10 How to Connect with Chris Brusnicki Online Nathan walks through the Famous Five rapid-fire questions, where Chris shares reflections on sleep deprivation from newborn twins and fundraising advice.29:44–30:14 · Nathan pushing back 0/10 Episode Summary and Key Takeaways Nathan delivers a solo outro summarizing the company metrics and running promotional announcements.

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

0:00 · Nathan 75% · guest 25%0:00 · Nathan 75% · guest 25%3:00 · Nathan 9.8% · guest 90.2%3:00 · Nathan 9.8% · guest 90.2%6:00 · Nathan 26.8% · guest 73.2%6:00 · Nathan 26.8% · guest 73.2%9:00 · Nathan 19.7% · guest 80.3%9:00 · Nathan 19.7% · guest 80.3%12:00 · Nathan 21.3% · guest 78.7%12:00 · Nathan 21.3% · guest 78.7%15:00 · Nathan 36.6% · guest 63.4%15:00 · Nathan 36.6% · guest 63.4%18:00 · Nathan 36.2% · guest 63.8%18:00 · Nathan 36.2% · guest 63.8%21:00 · Nathan 17.3% · guest 82.7%21:00 · Nathan 17.3% · guest 82.7%24:00 · Nathan 60.3% · guest 39.7%24:00 · Nathan 60.3% · guest 39.7%27:00 · Nathan 17% · guest 83%27:00 · Nathan 17% · guest 83%30:00 · Nathan 100% · guest 0%30:00 · Nathan 100% · guest 0%
Sharpest disagreement ▶ 13:17 Defending SaaS pivot against cannibalization claim

Chris counters Nathan's warning about marketplace cannibalization by arguing that capturing 1.5% of all client volume is superior to capturing 13% of only 5% of their inventory.

 Hardest push from Nathan ▶ 16:09 Challenging monthly user volume against lifetime total

Nathan immediately rejects Chris's claim of 25,000 monthly bookings when his entire lifetime platform total was only 150,000, forcing a prompt recalibration.

 Biggest teaching moment ▶ 9:36 Contrasting Uber commoditization with snowflake rentals

Chris corrects Nathan's comparison to Uber surge pricing, explaining that real estate rentals require nuanced matchmaking for specific property attributes rather than fungible rides.

 Nathan holds their own ▶ 17:48 Host live-corrects guest's booking and guest metrics

Nathan performs live on-air mental math dividing guest counts by average party sizes, revealing that Chris had overstated monthly transaction volume by a factor of 10.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Weekly Contest Winner and Subscription Call to Action 4313 Nathan introduces the guest and quickly zeroes in on clarifying the core business model, gross transaction volume, and commission rate.
Team Operations and Target Seller Profile 4312 Nathan asks detailed questions about unit economics, average order values, and the distinction between individual hosts and professional property managers.
Commission Breakdown and Custom Property Matching 5413 Nathan digs into fee mechanics and compares dynamic pricing to Uber, prompting Chris to explain why unique vacation properties cannot be treated as commoditized inventory.
Strategic Pivot to SaaS and Enterprise Distribution 7326 Nathan challenges Chris on whether their 1.5% take rate product is truly SaaS and points out that the offering risks cannibalizing their own core marketplace.
Clarifying Booking Metrics, User Base, and Seasonality 9118 Nathan catches major discrepancies in Chris's monthly versus lifetime user and booking figures in real-time, walking through the arithmetic until Chris admits his factor-of-ten math error.
Fundraising Journey, Valuation, and Growth Milestones 7315 Nathan calculates the company's net revenue run rate and pushes Chris to disclose valuation ranges and acquisition offer values.
How to Connect with Chris Brusnicki Online 3201 Nathan walks through the Famous Five rapid-fire questions, where Chris shares reflections on sleep deprivation from newborn twins and fundraising advice.
Episode Summary and Key Takeaways 0000 Nathan delivers a solo outro summarizing the company metrics and running promotional announcements.

Statements from this episode (12)

Assertion Contradicted
Brusnicki: Professional managers oversee 55% of all vacation homes globally
“These vacation rental management companies make up 55% of all of the vacation homes you would think about in, in the world.”
Chris Brusnicki Nov 11, 2016 ▶ 2:50
Disclosure
Brusnicki: VayStays does $5M in GMV with a 13% commission rate
“The marketplace proudly is doing around Five million in transactions and we earn a commission of around 13% on every transaction we make.”
Chris Brusnicki Nov 11, 2016 ▶ 4:20
Assertion Not checkable as stated
Brusnicki: VayStays has roughly doubled transaction volume yearly since 2010
“In our first year we did a 100,000 dollars in transactions as like a test marketplace that we set up while we still had our full-time jobs. And then we've just about doubled the marketplace volume every year since then.”
Chris Brusnicki Nov 11, 2016 ▶ 4:54
Assertion Not checkable as stated
Brusnicki: VayStays average booking is $2,000, ranging up to $45,000
“2000 dollars on average, but we have properties all the way down to, we've done bookings as small as a hundred dollars total. And that includes everything, taxes, fees, cleaning fee, et cetera, all the way up to 45,000 dollars for five day stay.”
Chris Brusnicki Nov 11, 2016 ▶ 6:12
Disclosure
Brusnicki: VayStays charges 8.5% to sellers and variable fees to travelers
“We take an eight and a half percent commission from the seller and then a commission from the traveler that just depends on the size of the booking volume. The percentage depends on the size of the booking. So if it's a very small transaction, say like a hundr…”
Chris Brusnicki Nov 11, 2016 ▶ 8:15
Insight
Brusnicki: Vacation rentals require precise matching, unlike commoditized rideshare inventory
“Uber is selling, is helping connect people to commoditize products. So you don't care which car you go into, but we have people that are hell bent on finding a heated, A saltwater pool that's facing a certain direction for the home they're going to rent. So ev…”
Chris Brusnicki Nov 11, 2016 ▶ 9:42
Assertion Not checkable as stated
Brusnicki: VayStays added $10M in transaction volume this month via SaaS
“So we've just slapped on ten million dollars in transaction volume this month, simply by adjusting our products slightly and making it into a hosted solution for some of our users.”
Chris Brusnicki Nov 11, 2016 ▶ 11:09
Assertion Not checkable as stated
Brusnicki: VayStays marketplace accounts for only 5% of client volume
“But right now we only represent five percent of their volume.”
Chris Brusnicki Nov 11, 2016 ▶ 13:29
Assertion Not checkable as stated
Brusnicki: VayStays has 20,000 total rental units across its managers
“So the actual average is 10 per property manager, but it's a 20,000 units total.”
Chris Brusnicki Nov 11, 2016 ▶ 15:25
Disclosure
Brusnicki: VayStays raised $1.5M to expand its SaaS marketplace
“We recently raised a million and a half dollars to go after this SaaS concept and grow the marketplace out.”
Chris Brusnicki Nov 11, 2016 ▶ 18:51
Disclosure
Brusnicki: VayStays turned down buyout offers of $2M to $3M
“A few companies have approached us to buy our technology, buy our brand names for a couple million dollars and we've turned them down.”
Chris Brusnicki Nov 11, 2016 ▶ 20:12
Prediction Not checkable as stated
Brusnicki: VayStays hopes to add $100M in transaction volume within months
“We've been able to, like, just from rolling out our products, bolt on ten million dollars in transaction volume, and we hope to bolt on a hundred million in the next couple months here.”
Chris Brusnicki Nov 11, 2016 ▶ 23:22
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