Patrick Campbell just sold his startup, ProfitWell, to Paddle for $200 million.
Highlights (go straight to ๐ฅ for the best stuff):
- 0:00 โ "My problem is I'm always curious if other people are living a better dream than me."
- 1:30 โ The major downside to bootstrapping is the lack of network
- 2:20 โ Selling ProfitWell to Paddle, and integrating the two teams.
- 4:15 โ How ProfitWell got started (2012)
- 6:00 โ Initially three co-founders (Crunchbase)
- 7:20 โ Patrick's background (what he did before ProfitWell)
- 10:10 โ What did bootstrapping ProfitWell look like? (How much did each founder invest?)
- 14:15 โ Do you want to be a lifestyle company or a "big ass company?" ๐ฅ
- 15:55 โ What salary did Patrick pay himself? (Tweet) ๐ฅ
- 18:25 โ Differences between Patrick (ProfitWell) and Josh Pigford (Baremetrics) ๐ฅ
- 21:45 โ Should bootstrapped companies go freemium and try to "win the market?" ๐ฅ
- 26:40 โ The characteristics of your market determine most of your outcomes ๐ฅ๐ฅ
- 29:24 โ "Don't underestimate the velocity and size of your market." ๐ฅ
- 34:35 โ What doe the average SaaS company spend on sales and marketing? ๐ฅ
- 37:39 โ Pricing your SaaS discussion ๐ฅ
- 42:45 โ Why competitors entering a new market can be better for your company. ๐ฅ
- 47:10 โ Should bootstrapped companies try to "own the market?" ๐ฅ
- 52:10 โ "We're in the second phase of SaaS: here's what's coming next." ๐ฅ
- 61:53 โ Did ProfitWell employees have equity?
What should we talk about next?
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