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SaaS Interviews with CEOs, Startups, Founders

1222 Workable CEO on Saying "No" to Acquisition Offers, $20m+ in ARR

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 28 November 2018

⏱️ 19 minutes

🧾️ Download transcript

Summary

Nikos is the CEO of Workable, makers of the popular recruiting software used by 6,000 companies in 80 countries. He led the company from its inception in 2012 to a fast-growing organization with 185 employees in USA and Europe, raising $40m of venture financing from elite European investors.

Nikos has appeared as a speaker at the Nantucket Conference, SaaStr and SaaStock, and has been interviewed in popular podcasts and media like Forbes and the New York Times.

Nikos holds a Computer Science degree from Imperial College, London. He lives with his wife and two children in Boston, MA. His twitter handle is @moraitakis.

Transcript

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0:00.0

Try not to plan things so much, says the creator of a planning tool for, uh, for,

0:05.3

for your recruiting, your recruiting needs.

0:08.1

Launched company back in 2012, uh, bootstrapped it.

0:11.0

He just realized when he was working in a telecom previous to this.

0:13.3

He couldn't scale and hire, uh, and sorry, and scale hiring effectively.

0:17.1

So we went out, built this tool in 2012.

0:18.5

Now is over 6,000 customers paying, call it,

0:21.2

two-ish grand per year or said differently. They've just passed 20 million bucks in ARR. That's up from

0:27.0

14 million about a year ago. So healthy growth rate. They've got 102% net revenue retention annually.

0:32.9

Tucked into that is 15% gross revenue churn annually, but it's not like a typical business.

0:37.6

30% of his new business every month is actually from past customers who stopped hiring

0:41.2

because the system works so well, right? That's obviously what it does. His team is 170 people

0:45.1

based between Boston and Athens, super healthy payback period. They spend 500 bucks to acquire

0:49.6

a customer that pays $2,000 a year, so twomonth payback period, four grand LTV at a minimum,

0:54.9

healthy business.

0:56.6

This is the top entrepreneurs podcast where founders share how they started their companies

1:02.6

and got filthy rich or crash and burn.

1:08.0

Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines.

1:16.6

We went from a couple hundred thousand dollars to $2.7 million.

1:20.6

I had no money when I started the company.

1:22.6

It was $160 million, which is the size of any IPOs.

1:25.6

We're a bit strapped.

...

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