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