Startups For the Rest of Us Episode 732 | Lessons Learned Bootstrapping to a $615M Exit
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Sep 24, 2024 Jeff, a mostly anonymous and retired SaaS founder, shares his inspiring journey of bootstrapping a company to a stunning $615 million exit. He discusses the lonely early years and the perseverance required to achieve traction. Listeners learn about the emotional aftermath of such a significant exit and the challenge of finding purpose beyond wealth. Jeff highlights key business strategies, metrics that drive valuations, and the importance of community in post-exit life, encouraging a shift from monetary success to evaluating life's energy.
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First Exit Emotions
- Jeff felt relief and enthusiasm after his first exit.
- He was excited to invest and pursue new ideas without risking his entire net worth.
SaaS ARR Multiples
- SaaS ARR multiples vary greatly, from 2x to 23x.
- Factors like market conditions, gross margin, retention, and growth influence the multiple.
Accidental SaaS
- Jeff's initial attempts to sell one-time licenses failed.
- Necessity, not foresight, led them to adopt a subscription model, similar to MailChimp.