EP 578: Ripple Recruiting Passes 8,000 Ivy League Resumes With 15 Employers Paying $300/mo For Access with Ripple CEO Andrew Myers

Andrew Myers. He grew up in Denver, Colorado and recently left Yale before the start of his senior year to pursue Ripple Recruiting, full-time. He now serves as a CEO in a fast growing, 12-person startup.

Famous Five:

• Favorite Book? – Anna Karenina
• What CEO do you follow? – Kevin Ryan and Reid Hoffman
• Favorite online tool? —PersistIQ and Slack
• Do you get 8 hours of sleep?— No
• If you could let your 20-year old self, know one thing, what would it be? – "Go for it"

Time Stamped Show Notes:

• 01:34 – Nathan introduces Andrew to the show
• 01:56 – Ripple Recruiting allows employers to create their dream applicant
• 02:32 – The whole revenue model is based on the employers and Ripple Recruiting is subscription based
• 02:43 – Ripple Recruiting is both a marketplace and a SaaS business model
• 03:04 – Ripple Recruiting has three subscription packages
• • 03:15 – Average contract size is about $300 a month
• 03:25 – Andrew shares the differences between the packages
• 04:25 – Andrew won't sell Ripple Recruiting at this time
• 04:50 – Andrew and his partner are first time founders
• 05:05 – Andrew and his partner both have strong opinions regarding their business
• 05:40 – Ripple Recruiting was launched in 2015
• 05:54 – First year revenue
• 06:03 – Andrew's focus is on user engagement, rather than revenue
• 06:36 – Total debt Andrew has for Ripple Recruiting
• 07:00 – Ripple Recruiting has raised in a seed round
• • 07:12 – Ripple Recruiting will be in a series A, soon
• 07:24 – Ripple Recruiting has a syndicate
• 08:11 – No revenue in 2015
• 08:20 – Ripple Recruiting has 15 paying clients at the moment
• 08:30 – Average MRR
• 09:00 – Andrew shares the pitch to investors
• • 09:10 – Ripple Recruiting currently has over 10K Ivy League students signed up, on the platform
  • 10:36 – Ripple Recruiting's valuation
• 11:18 – Andrew wants to raise $2-3M is series A
• 11:30 – Andrew wants the highest valuation possible
• 12:11 – Andrew already has the strategies to build the syndicate
• 13:05 – Andrew wouldn't take a $13M deal
• 13:58 – Andrew has just started focusing on revenue in terms of sales stream
• 14:42 – The customers are paying for their access in Ripple Recruiting's database
• 15:52 – Andrew believes that they're doing it better than other competitors in the space
• 17:07 – Ripple Recruiting doesn't have an official hire number yet
• • 17:23 – Andrew is seeing 20K students being hired on Ripple Recruiting
• 17:30 – No churn yet
• 18:58 – The whole Ripple Recruiting team ages between 22-25
• 20:50 – The Famous Five

3 Key Points:

• Being new to business allows you to be more optimistic, but listening to those who have done it can definitely help.
• A good pitch can drive good investors.
• Start early – if you truly feel that you should do it, then NOW is the right time.

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
• Jamf – Jamf helped Nathan keep his Macbook Air 11" secure even when he left it in the airplane's back seat pocket
• Freshbooks – Nathan doesn't waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
• Show Notes provided by Mallard Creatives