Intuit did not overpay acquiring TSheets for 10x ARR, says Nevogt
Dave Nevogt · 1191 How Bootstrapped Time Tracking CEO Drives 100% yoy Growth, $3.8m in ARR · Oct 28, 2018 · at 11:30
Dave Nevogt, co-founder of Hubstaff, evaluates competitor TSheets' $300M acquisition by Intuit with host Nathan Latka.
0:00 / 0:12exact quote · 13.0s
720p mp4 · rendered on demand · StarZero watermark
“No, I don't think so. Because they, you know, they've got a great product and a great customer base. And I mean, I, I'm not one to judge that, I guess, in the first place, but, you know, look at what, you know, QuickBooks can do with the product once it's theirs.”
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 Dave Nevogt
Dave Nevogt believes Hubstaff cannot reduce its 6% monthly churn rate
“I don't think we can bring it down.”
Hubstaff remains entirely owned by its two co-founders
“Two of us own it right now, and if we get another party involved, you know, I don't know. It's just not very, it's not totally appealing to us.”
Dave Nevogt: Hubstaff founders intend to stay bootstrapped to $4M-$5M revenue
“Oh, well, Jared and I, luckily we're on the same page here again, but we want to stay bootstrapped. We want to stay, we believe that like, if we can build this business up to like, you know, four or five million annual, And, you know, just live our lives the w…”
Hubstaff hits $3.8M ARR and 7,000 customers with zero funding
“Yeah, so still no funding still bootstrapped we're at about three point, you know, 3.8 million AR now a little over 7000 customers and,”
Hubstaff failed to scale paid ads despite hiring five consultants
“We've tried everything. It seems like we've tried everything. I've tried about five different consultants. We've tried Facebook. We've tried AdWords and you know, it's not like things are terrible. It's just their channel. We have not been able to scale anythi…”