Patrick Campbell just sold his startup, ProfitWell, to Paddle for $200 million.
Highlights (go straight to š„ for the best stuff):
- 0:00 ā "My problem is I'm always curious if other people are living a better dream than me."
- 1:30 ā The major downside to bootstrapping is the lack of network
- 2:20 ā Selling ProfitWell to Paddle, and integrating the two teams.
- 4:15 ā How ProfitWell got started (2012)
- 6:00 ā Initially three co-founders (Crunchbase)
- 7:20 ā Patrick's background (what he did before ProfitWell)
- 10:10 ā What did bootstrapping ProfitWell look like? (How much did each founder invest?)
- 14:15 ā Do you want to be a lifestyle company or a "big ass company?" š„
- 15:55 ā What salary did Patrick pay himself? (Tweet) š„
- 18:25 ā Differences between Patrick (ProfitWell) and Josh Pigford (Baremetrics) š„
- 21:45 ā Should bootstrapped companies go freemium and try to "win the market?" š„
- 26:40 ā The characteristics of your market determine most of your outcomes š„š„
- 29:24 ā "Don't underestimate the velocity and size of your market." š„
- 34:35 ā What doe the average SaaS company spend on sales and marketing? š„
- 37:39 ā Pricing your SaaS discussion š„
- 42:45 ā Why competitors entering a new market can be better for your company. š„
- 47:10 ā Should bootstrapped companies try to "own the market?" š„
- 52:10 ā "We're in the second phase of SaaS: here's what's coming next." š„
- 61:53 ā Did ProfitWell employees have equity?
What should we talk about next?
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