Steve Cody, founder of The Better Software Company, explains the origin of his SaaS product after failing to find existing management software when franchising his party rental business.
0:00 / 0:11exact quote · 11.6s
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“And the software we had created was always our competitive advantage, and when we started looking for something in franchising, we couldn't find anything, so we said, well, let's just modify ours so that we can start franchising with it”
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(the analysis reads context, assessments check outside sources). how →
More from Steve Cody
AssertionNot checkable as stated
VCs blocked Steve Cody from firing a leadership team executive
“There was one person on our team that I thought should leave the team that was in a leadership position. The VCs wouldn't let me get rid of them.”
Steve CodyApr 1, 2020▶ 9:311712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
AssertionNot checkable as stated
VC investors took a loss when Steve Cody repurchased his company
“Yeah, they, yeah, they took a loss.”
Steve CodyApr 1, 2020▶ 8:591712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
Disclosure
The Better Software Company charges $100 to $250 per location
“The price will range between a hundred per location to 250 per location, and what we've done is we allow a person to have unlimited users”
Steve CodyApr 1, 2020▶ 5:341712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
AssertionNot checkable as stated
The Better Software Company has scaled to 4,000 franchise locations
“We've got about 4000 on there right now.”
Steve CodyApr 1, 2020▶ 7:091712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
AssertionContradicted
The Better Software Company initially raised $9.8M in venture capital
“We raised about 9.8 million through VCs.”
Steve CodyApr 1, 2020▶ 8:151712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
AssertionNot checkable as stated
The Better Software Company grew sales 55% after founder's buyback
“We've grown sales 55% since we took it back.”
Steve CodyApr 1, 2020▶ 11:091712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?
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