Info

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.
RSS Feed Subscribe in Apple Podcasts
SaaS Interviews with CEOs, Startups, Founders
2020
June
May
April
March
February
January


2019
December
November
October
September
August
July
June
May
April
March
February
January


2018
December
November
October
September
August
July
June
May
April
March
February
January


2017
December
November
October
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July
June
May
April
March
February
January


2015
December
November
October


Categories

All Episodes
Archives
Categories
Now displaying: Page 1
Dec 30, 2016

Eric Rea, co-founder and CEO of Podium.com which is based in Utah. He’s a software engineer at the International Atomic Agency and before that, the founder of FineGrain. He worked at Walmart as a software engineer and he has also interned at Orange Soda.

Famous Five:

  • Favorite Book? – Multipliers
  • What CEO do you follow? –  Phil Knight
  • Favorite online tool? –  Domo and Apple Notes
  • Do you get 8 hours of sleep? –  “I get 7”
  • If you could let your 20-year old self, know one thing, what would it be? – “You can always tell them to go to hell tomorrow” –  Warren Buffet

 

Time Stamped Show Notes:

  • 01:46 – Nathan introduces Eric to the show
  • 02:20 – Podium helps businesses generate reviews which drives purchase decisions
  • 02:30 – Podium charges $299 a month per location
  • 02:48 – Podium is a SaaS business
  • 02:58 – Average customer pays $499
  • 03:20 – Podium was launched in 2013
    • 03:25 – Eric started Podium because of his dad’s business
  • 04:01 – Team size
    • 04:44 – All employees are working full-time
    • 04:50 – Team is based in Utah
  • 05:35 – Podium raised $4M in total
    • 05:50 – First seed round was in 2014 and $500K was raised
    • 05:57 – Raised $3.5M in December of 2015
  • 06:36 – Eric has given up 20% of the business for the seed round
  • 07:38 – Podium has 25000 customers per location
  • 08:13 – Podium has $1M in MRR
  • 08:45 – Podium’s gross monthly customer churn is around 1%
    • 09:10 – Net churn is negative 2% monthly
  • 09:50 – Average CAC
  • 10:12 – Average LTV is $12K
  • 11:00 – 2015 ARR is $1.8M
  • 11:30 – 2016 ARR is around $11M
  • 11:41 – Goal for 2017 ARR is $25M
  • 12:55 – Connect with Eric through his website and Twitter
  • 15:05 – The Famous Five

 

3 Key Points:

  • It’s important to have some capital in case you make mistakes – with no capital, just 1 mistake will sink you.
  • Find a solution to the simplest problems to streamline your business processes.
  • The SMB market will continually grow, creating more opportunities for startups.

 

Resources Mentioned:

  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
  • 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 the quality of Toptal
  • 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.
  • 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
  • @EricWilliamRea – Eric’s Twitter handle
  • Podium.com – Eric’s business website
  • Show Notes provided by Mallard Creatives
0 Comments
Adding comments is not available at this time.