Disclosure certainty 4/5 debate potential 1/5

Obie Founders Took Zero Salary for Two Years, Scaled to 80K CAD

Chris Buttenham · Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently · Sep 17, 2020 · at 10:45

Chris Buttenham, founder and CEO of Obie, explains founder compensation history and early financial sacrifices to Nathan Latka.

0:00 / 0:22exact quote · 22.8s
720p mp4 · rendered on demand · StarZero watermark
“We paid ourselves nothing for the first two years of the company. And then as we started generating revenue, we paid ourselves, I don't know, some poverty level salary, like 30,000 dollars a year Canadian dollars. And then it was 50, and then we got up to like 80”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Chris Buttenham

Assertion Not checkable as stated
Obie Generates Approximately $25,000 in Monthly Revenue
“Yeah, we're doing about 25 K a month in revenue.”
Chris Buttenham Sep 17, 2020 ▶ 7:02 Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently
Assertion Not checkable as stated
Obie Burns Roughly $30,000 Per Month
“We're burning about 30 K a month.”
Chris Buttenham Sep 17, 2020 ▶ 7:15 Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently
Disclosure
Obie Raised All Capital on Convertible Notes to Maintain Control
“We've raised all of our money on notes to date, so we still retain control.”
Chris Buttenham Sep 17, 2020 ▶ 9:47 Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently
Disclosure
Obie Co-Founders Retain About 60% Ownership
“About 60% of the company.”
Chris Buttenham Sep 17, 2020 ▶ 10:29 Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently
Assertion Not checkable as stated
Obie's Monthly Customer Churn Is Below 3%
“But now we have churn really stable. It's below three percent a month.”
Chris Buttenham Sep 17, 2020 ▶ 13:53 Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently
Assertion Not checkable as stated
95% of Obie Sales Come From Inbound Organic Channels
“What is fortunate about our model is that 95% of our sales come inbound organic.”
Chris Buttenham Sep 17, 2020 ▶ 14:49 Obie Growing on Slack marketplace, $25k MRR, Helps Teams Store Information Efficiently
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 2,600 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.