McClain retains 100% equity in SupportNinja without raising outside capital
Cody McLain · EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja · Jun 30, 2016 · at 14:30
Cody McClain explains to Nathan Latka that he bootstrapped SupportNinja without raising outside venture capital.
0:00 / 0:05exact quote · 5.2s
720p mp4 · rendered on demand · StarZero watermark
“As well as the fact that I haven't had to take any outside capital and been able to retain all my equity is fantastic.”
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 Cody McLain
A top expense app's 'smart scanning' was secretly powered by offshore humans
“Or there's another company, a very popular expense company that allows employees to expense receipts. And they would have a feature called a smart scanning feature where you could take a picture of the receipt and then it would extract. But that wasn't a smart…”
Standard operating procedures are easy to create but hard to maintain
“Processes, they're easy to create, but hard to maintain. They quickly become irrelevant, and if they're irrelevant, or say if you have a static process somewhere in a Google Doc, if somebody's not updating it, then nobody's gonna go and check it, and if they a…”
Founders should avoid splitting company equity fifty-fifty
“I've certainly, I certainly wouldn't recommend doing fifty-fifty, but that was just what we had at the time”
Web hosting acquisitions are typically valued at 1x forward revenue
“It's mostly just based on the one-year projection from the time of the sale.”