The Foundr Podcast with Nathan Chan 506: I Ignored Investors and Built a $975M Company | Joe Thomas
An investor told Joe Thomas and his co-founders that they could exit to Salesforce for millions if they made their video recording software for sales teams. Thomas and his co-founder said no. Instead, they built Loom into a globally used tool with five million users in 230+ countries. In November of 2023, Atlassian acquired Loom for $975 million. Learn how Thomas trusted his gut and made Loom a must-have for the digital workforce.
In this episode, you’ll learn:
- The 8-year overnight success story of building Loom
- Loom’s key differentiator in the market
- How to not bury the lede of your product market fit
- Why early-stage founders need to maximize their learnings
- The value of a weekly Sunday dinner
- About making a product customers will like and pay for
- The product-led growth trap
- Why every 90 days are different as an entrepreneur
- How Thomas monetization Loom
- To create a max diff survey for product upselling
- Choosing the uncertain path
- And much more product development advice…
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