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SaaS Interviews with CEOs, Startups, Founders

What if you knew data behind the fastest growing SaaS companies today? Each morning join Nathan Latka as he spends 15 minutes interviewing SaaS founders. You'll learn how SaaS CEO's launched their startup and grew it into a business. SaaS Founders range from bootstrapped to funded, MVP to 10,000 customers, pre revenue to pre IPO.
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Now displaying: Page 1
Jun 15, 2017

Victor Rosenman. He’s the CEO and founder of Feedvisor. Before founding Feedvisor, he was the founder of an innovative marketing startup and a senior R&D manager at Sun Microsystems. Victor holds a BSc in computer science and an executive MBA from Kellogg Northwestern.

Famous Five:

  • Favorite Book? – The Black Swan
  • What CEO do you follow? –  Jeff Bezos
  • Favorite online tool? — Whatsapp
  • How many hours of sleep do you get?— 6-8
  • If you could let your 20-year old self, know one thing, what would it be? – “Whenever you make a decision, you need to think a little bit longer”

 

Time Stamped Show Notes:

  • 00:47 – Nathan introduces Victor to the show
  • 01:24 – Feedvisor is a decision support system for large ecommerce vendors that sell through marketplaces
  • 02:57 – Most of the e-commerce that joins Feedvisor has significant business on Amazon
    • 03:06 – Before joining Feedvisor, they will be doing marketplace management through Amazon
    • 03:32 – Feedvisor makes the numbers on the marketplace right
  • 03:50 – Feedvisor looks into a load of various numbers so they can tell which price is right
    • 04:05 – Stock is almost similar to Amazon where there’s competition in prices
    • 04:20 – To look into the numbers and make decisions is tough
  • 04:42 – Feedvisor decides more on pricing, replenishment and assortment
  • 05:02 – Feedvisor charges a monthly subscription
  • 05:15 – Average customer pay is $2-3K a month
  • 06:06 – Undercuts is getting information and automated price adjustments
  • 06:20 – For every revenue Undercuts gets through the system, they pay a rev share
  • 06:40 – Not going through Feedvisor’s system will not make sense for the clients
    • 06:49 – “There’s no way you’ll be fast by doing things manually”
  • 06:55 – The rev share is a portion of the entire fee
  • 07:20 – Average rev share percentage
  • 07:38 – Majority of Feedvisor’s revenue is coming from their fixed revenue stream
  • 07:45 – Feedvisor was founded in 2011
  • 07:55 – Feedvisor was initially bootstrapped for a year
  • 08:00 – Feedvisor got an initial seat funding in 2012
    • 08:03 – It was for $500K
    • 08:11 – It was all equity
  • 08:15 – To date, Feedvisor has raised $33M
  • 08:34 – Feedvisor’s funding experience wasn’t easy but it was fair
  • 08:46 – Feedvisor was initially from Israel
  • 09:12 – Israel has a powerful VC ecosystem
    • 09:18 – It’s not different than Silicon Valley
  • 09:48 – Feedvisor’s revenue just before raising a round
  • 10:00 – When Feedvisor raised a seed round, Victor didn’t know about the e-commerce business
    • 10:16 – Feedvisor was primarily rev share when they started
    • 10:47 – Feedvisor raised funding in Q4
  • 11:45 – Victor pitched to the investors slowly
  • 12:00 – In the end, Angel investor is much more of a personal business
  • 12:55 – The series B was done with a common valuation
    • 13:09 – The common valuation for series B is 60%-150%
  • 13:30 – Team size
  • 13:40 – Feedvisor has around 500-600 customers
  • 14:12 – Average MRR
  • 14:57 – Churn is quite low
  • 15:50 – Feedvisor is close to net negative revenue churn
  • 16:10 – Feedvisor focuses on value
  • 16:57 – By optimizing Feedvisor, they create an ROI
  • 17:58 – Feedvisor is charging a fair amount and they understand their customers
  • 18:55 – Feedvisor finds customers through brand building initiatives and content marketing
    • 19:02 – Feedvisor invests a lot on brand building
    • 19:10 – “When you think Feedvisor, you think it’s a reliable solution”
    • 19:34 – Feedvisor does their own conferences
    • 19:47 – Feedvisor creates an environment where people can learn
  • 20:21 – Feedvisor has paid $3-4K for content marketing
    • 20:57 – It is about investing into everything that can help you position yourself, not just content marketing
  • 21:44 – LTV
  • 22:23 – CAC
  • 23:45 – The Famous Five

 

3 Key Points:

  • People want their businesses not to just be automated, but also precise at the same time.
  • Building your brand creates a great reputation and image for your business.
  • Making big decisions requires careful consideration and time.

 

Resources Mentioned:

  • The Top Inbox  – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Klipfolio – Track your business performance across all departments for FREE
  • Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
  • Show Notes provided by Mallard Creatives
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