Racki: Proposify aims to double ARR before considering acquisition offers
Kyle Racki · Proposify Hits $7m Revenue Driving Expansion Into 200 Enterprise Accounts with $10k+ ACV's · Jan 23, 2021 · at 17:35
Proposify CEO Kyle Racki outlines the company's growth milestones and stance on potential acquisition interest.
0:00 / 0:14exact quote · 14.6s
720p mp4 · rendered on demand · StarZero watermark
“Like we want to get to the point where we're doubling ARR total, you know, in a year's time. So I think when that happens, let's say one or two years out, we'd probably be in a better position to look at acquisition offers today.”
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 Kyle Racki
Funded Founders Should Take Reasonable Salaries to Avoid Product-Harming Stress
“Because I think, especially when you raise money, you need to be reasonably comfortable. You know, you can't work on a product and hustle if you're worrying about how to pay your mortgage.”
Proposify Bloated to 100 Employees on Just $5M to $6M Revenue
“We hired enough people that we were eventually around, you know, a hundred people or so, and for, you know, at the time, I think only a five or six million dollar business.”
Mid-Market Proposal Software Buyers Prioritize Control and Management Over Aesthetics
“The customers who bought Proposify to send beautiful proposals and get faster sign-off, that messaging didn't really resonate with the mid-market, because they're like, we have cool PowerPoint decks, like, we know how to send proposals. What they really wanted…”
Proposify Burned $400,000 Per Month While Generating Under $10M in ARR
“At one point, we were actually burning 400 K a month, which, you know, depends on your size, right? That might not seem a lot if you're a hundred million ARR, but if you're under ten million, that's a lot of money to be burning.”
Kyle Racki Left Departed VP Roles Unfilled, Resuming Product and Marketing
“My VP of product quit, my VP of marketing quit. I didn't replace them. I just got in and started running product and marketing again just like in the early days.”
Racki: Proposify prematurely hired 10 to 20 sales reps before downsizing
“We had raised the first time we had raised the round. We kind of did the classic mistake where you know, you go and hire a VP of sales with big company experience. They go and hire, you know, 10, 20 reps very quickly. Without much of our go to market or our po…”