Review Wave founder Matt Prados discusses his recent health transformation and personal operating philosophy with Nathan Latka.
Disclosure
Prados: Review Wave is strictly 'remote never' and rejects remote work
“We are not remote first. We're remote. We're remote never. I hate that business model.”
Prediction Not checkable as stated
Prados: Review Wave expects 150% to 160% NRR by year-end
“We've got a number of strategies where, you know, the net revenue retention you know, we're going to go for is going to be, you know, by the end of the year, we expect to be about a 150, 160% net revenue retention with some additional products and things that …”
Insight
Having $250K versus $2.5M liquid doesn't change your life much
“If you have 250,000 dollars liquid in the bank or you have, you know, 2.5 million dollars liquid in the bank, your life really doesn't change too much unless you're just crazy and you want to spend it.”
Assertion Not checkable as stated
Prados: VC software valuation multiples max out at around 7x revenue
“Like the economy right now, everybody's puckering up. It's like seven times revenue is, is where they want to kind of max out at.”
Disclosure
Prados: Review Wave targeted $150M valuation with $15M in founder secondary
“Yeah, so, I mean, we were looking at, you know, pretty much a hundred fifty million dollar valuation, 20% deal 50% for secondary, which is where you take it off the table, and then 50% to leave on the books, so we were going to take that fifteen million. We've…”
Opinion
Prados: VCs resist founder secondary liquidity despite marketing claims
“They didn't really like, they don't love the secondary amount, even though they all say on their website, they love giving you liquidity. They don't, they want you to be, you know, tied to the game and, you know, not go off and be distracted. So it depends and…”