Larry Kim: Selling lead data captures more wallet share than advertising software.
Larry Kim · His First Exit Was for $200m, His Next Startup Hit $1m Then Almost Failed, Now 100% YoY Growth at Customer.ai with unique LLM model · Sep 19, 2023 · at 23:27
Larry Kim, founder of Customers.ai and former founder of WordStream, reflects on lessons learned about monetization models and capturing customer spend.
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“WordStream was like a kind of a management tool. They would spend 500 dollars with us for the tool expense, but then they would spend 10,000 on leads through Google and Facebook. So, so our share of wallet was, you know, smaller, more modest. Here we're providing the tools and also the lead data, which is, is I think a much more interesting value prop. And I wish I knew that, you know, 20 years ago.”
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