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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
Oct 6, 2016

Laura Behrens Wu, the co-founder and CEO of Shippo. Listen as Laura talks about how a laundry list of shipping obstacles with her previous e-commerce store birthed the idea for Shippo.

Famous Five:

  • Favorite Book? – The Hard Things About Hard Things
  • What CEO do you follow? – Patrick Collison
  • Favorite online tool? — Slack
  • Do you get 8 hours of sleep?— “I wish”
  • If you could let your 20 year old self know one thing, what would it be? – “Trust that things will turn out right”

 

Time Stamped Show Notes:

  • 01:45 – Nathan introduces Laura to the show
  • 02:13 – E-commerce business Laura had
    • 02:27 – Started at Shopify
    • 02:40 – Sourcing unique items from NGO
    • 03:07 – Shipping problem
  • 03:32 – Revenue with the e-commerce business
  • 03:50 – Laura was 21 when she started her business
  • 04:13 – Financing with Shippo
    • 04:17 – Drop shipping
  • 05:08 – Typical shipping pricing
  • 05:30 – Shippo shipping rates
    • 05:58 – Volume metric
    • 06:07 – Doing millions of packages a month
  • 06:30 – Negotiation with shipping providers 
    • 06:44 – Based on projected volumes
  • 07:00 – Shippo is a pay-as-you-go; not SaaS
  • 07:20 – Sample price per package shipped
    • 07:30 – What if I’m shipping a 10 lbs. dumbbell?
    • 07:44 – “We only provide the software”
  • 08:06 – How Shippo works in an e-commerce website
    • 08:10 – Will compare different shipping providers
    • 08:30 – Not a standard shipping rate
    • 08:47 – How the shipping providers get the package from the seller
  • 09:07 – Why clients use Shippo’s service
  • 09:37 – Shipping providers are not tech company
  • 09:55 – Number of unique customers
  • 10:12 – Average shipping volume per month
  • 10:29 – Memebox
    • 11:10 – Nathan’s proposed deal for Shippo and Memebox
  • 11:54 – They raised $9M in 2014
  • 12:20 – Team size
  • 12:50 – Use of the extra money
  • 13:23 – Minimum monthly revenue
  • 13:33 – Upselling
    • 13:50 – Shipping insurance
    • 14:11 – Tracking as a product
  • 15:28 – Bigger revenue stream
  • 15:37 – $ 7 million in series A round, March 2016
  • 16:00 – How to keep the balance when you have a big account
  • 16:38 – Travel expenses last month
  • 17:25 – Will you sell the business for $ 47 million?
    • 17:45 – Ideal exit assuming there’s a good fit
  • 18:03 – Built an app on top of Shopify
  • 18:11 – Connect with Laura through her Twitter, LinkedIn and email
  • 20:00 - The Famous Five

 

3 Key Points:

  • Keep your customers updated and excited.
  • Spend money on the right things and appreciate what you have.
  • Don’t get upset on your first try – everything falls into place given patience and time.

 

Resources Mentioned:

  • Toptal – Nathan found his development team using Toptal  for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal  developers.
  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
  • @LauraBehrensWu – Laura’s Twitter handle
  • LinkedIn – Laura’s LinkedIn account
  • laura@goshippo.com – Laura’s email address
  • Show Notes provided by Mallard Creatives

 

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