Sam Rattner - From Startup to $40M Exit at 23

Today on The Casey Adams Show I sat down with Sam Rattner.

In this captivating episode, we sit down with Sam Rattner, the visionary founder of Victory and Showroom, who sold his first company for a staggering $40M at just 23. Sam takes us through his thrilling journey in the online gambling and fashion e-commerce industries, sharing the highs and lows of building a business in a regulated market. He emphasizes the importance of taking risks early in life, being fully informed before pitching investors, and the concept behind Showroom—a revolutionary vertical-specific search engine for fashion and e-commerce.

Takeaways

-Starting a business in a regulated market requires navigating complex regulatory processes and compliance requirements.

- Building an asset along the way is important, as it increases the value of the business and makes it more attractive to potential buyers.

- Taking risks early in life, when there are fewer responsibilities, can lead to greater opportunities and success.

- When pitching investors, it is important to be fully informed about the business and to have a clear understanding of the market and competition.

- The future of shopping may involve vertical-specific search engines that provide a more personalized and efficient shopping experience. Product discovery is a challenge in the e-commerce industry, and traditional keyword-based search engines are not effective in helping users find what they are looking for.

- Building relationships with partners is crucial for Showroom's success, and the company curates a list of high-quality brands to ensure a positive user experience.

Chapters

00:00 Introduction and Background

03:35 Starting Victory and Overcoming Regulatory Challenges

06:33 Building a Business with Acquisition in Mind

09:40 Early Entrepreneurial Endeavors

14:38 Gap Between Snow Plow Business and Victory

17:39 Raising Capital for Victory

21:36 Never Pitching Twice

30:38 Introduction to Showroom

33:14 Thoughts on Live Shopping

36:33 Personal Shopping Habits

38:59 Product Discovery and Keyword-Based Search Engines

39:52 Expansion of Showroom Categories

40:38 Building Relationships with Partners

41:01 Revenue Share Model

42:53 Curated List of Brands and Quality Products

44:12 Choosing Showroom as a Second Time Founder

45:11 Importance of Talent and Team Building

47:07 Product Discovery and Live Shopping

49:30 Acquiring a Former Riverboat Casino Vessel

57:06 Unique Ventures and Pursuing Opportunities

58:37 Embracing Pain and Learning from Challenges

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