A Product Market Fit Show | Startup Podcast for Founders

He built a $4B unicorn & crossed $100M ARR—here's why it took 10 years of 100-hour weeks. | Martin Basiri, Founder of Passage & Applyboard (SaaS North Keynote)

Dec 16, 2024

In a captivating talk, Martin Basiri, the founder of the $4B unicorn Applyboard and new venture Passage, shares his journey of relentless perseverance. He reveals how 100-hour work weeks and the right mindset can lead to success, even in high-stress situations. Martin emphasizes the importance of hiring exceptional talent and maintaining a lean team for innovation. He reflects on making tough decisions to restart and his commitment to accessible education, driven by a powerful belief in never giving up.

30:02

Episode guests

Martin Basiri

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Martin's relentless work ethic, exemplified by 100-hour weeks, highlights the dedication necessary to build a successful startup like ApplyBoard.

His focus on creating meaningful educational opportunities underscores the impact entrepreneurial ventures can have on underprivileged communities and systemic challenges.

Deep dives

From Immigrant to Innovator

Martin's journey from an immigrant with limited English skills to a successful founder illustrates his resilience and ambition. After immigrating to Canada from Iran, he leveraged his background in engineering and coding to co-found ApplyBoard, a company valued at $4 billion that assists students in studying abroad. His personal experiences with education shaped his mission to provide opportunities to others faced with financial or systemic challenges, leading him to leave ApplyBoard and start Passage. This new venture aims to create sustainable educational pathways for the brightest individuals globally, ensuring that financial constraints do not hinder their academic pursuits.

Intro

2min

From Passion to Purpose: A Journey in Education and Technology

15min

Innovative Lean Operation Strategies in Startups

2min

Hiring Dynamics in Startups

4min

Securing Talent: A Founder's Persuasive Strategy

2min

The Power of Perseverance and Self-Belief in Entrepreneurship

5min

I interviewed Martin on the keynote stage at the SaaS North conference. Here is the audio version. Martin built Applyboard into a $4B unicorn doing $100M+ in ARR. He left and started a new startup called Passage— and raised a $40M seed round.

He talks about 100-hour weeks, hiring exceptional talent, why smaller teams can outperform—and why he decided to start all over again.

Why you should listen:

Why great founders thrive in high-stress situations-- on "the edge of failure" as Martin calls it.
How to make your first hire.
Why you need to go all-in and work crazy hours to build a unicorn.
Why Martin thinks it's key to never give up, even in tough times, as cliche as it might sound.
The importance of creating a positive environment to attract good people.

Keywords
entrepreneurship, education, immigration, impact, startup, Passage, ApplyBoard, perseverance, business model, founder journey

Timestamps
(00:00:00) Intro
(00:03:54) Getting Into Coding
(00:06:48) Accidentally Making Applyboard
(00:10:41) Starting startup #2
(00:17:19) Raising the Biggest Seed in Canada with Only 20 Employees
(00:20:07) If You Can't Outsmart Them, Outwork Them
(00:23:21) Getting the First Software Developer
(00:25:48) One Piece of Advice

Send me a message to let me know what you think!

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A Product Market Fit Show | Startup Podcast for Founders

He built a $4B unicorn & crossed $100M ARR—here's why it took 10 years of 100-hour weeks. | Martin Basiri, Founder of Passage & Applyboard (SaaS North Keynote)

Episode guests