1042 "We're selling the company right now" for $10m+

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 1 June 2018

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Mike Lapchick co-founded The Chicago Catalog Group in 1996 which was acquired by Lake Capital/ Haggin Marketing (now Epsilon) in 2006. Encumbered by the daily expense of manually facilitating the exchange of product information between their retail and brand clients, Mike saw an opportunity to build an exchange platform that automated the process. He launched Shotfarm's Product Content Network in 2010 which enables rapid retail channel and product assortment expansion for more than 12,000 Brands and Retailers today.

Transcript

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0:00.0	This is the top entrepreneurs podcast where founders share how they started their companies and got
0:06.9	filthy rich or crash and burn. Each episode features revenue numbers, customer counts, and other
0:16.1	insider information that creates business news headlines. We went from a couple hundred thousand dollars to two point seven million.
0:23.6	I had no money when I started the company.
0:25.6	It was a hundred and sixty million dollars which is the size of any IPOs.
0:29.6	We're a bit strapped.
0:30.6	We have like 22,000 customers.
0:33.6	With over five million downloads in a very short amount of time, major outlets like Inc are calling us the fastest growing business show on iTunes.
0:43.6	I'm your host, Nathan Latka, and here's today's episode.
0:48.6	Hello, everyone.
0:49.4	My guest today is Mike Lapchik.
0:51.9	He's the founder of the Chicago Catalog Group, which happened back in
0:55.3	1996, and was acquired by Lake Capital or the Hagen Marketing Show, which is now Epsilon, I believe,
1:00.7	in 2006. He went through the daily expense of manually facilitating the exchange of product
1:04.9	information between their retail and brand clients, and this is where he saw an opportunity
1:09.8	to build an exchange platform that
1:11.4	automated this process. He launched his current company Shot Farm back in 2010, which enables
1:16.7	retail channel, different rapid retail channel and product assortment expansion for more than
1:21.0	12,000 brands and retailers today. Mike, are you ready to take us to the top?
1:26.9	Yeah. You hope, right? I've been ready for seven years, yeah take us to the top? Yeah.
1:29.1	You hope, right?
1:30.7	I've been ready for seven years, yeah.
	...

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