1223 Just $1m Raised and $1m+ in MRR as Formstack Grows in Indianapolis

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 29 November 2018

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chris Byers is the CEO of Formstack, a versatile online form solution that streamlines processes for capturing and managing information. With a mission to empower business professionals through simple and elegant tools that remove complexity from everyday business processes, Formstack is committed to pursuing sustainable growth. Chris works with Formstack's leadership team to advance the company's initiatives, including its culture code and vision, which focus on relationships, results, and community.

Transcript

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0:00.0	Own your own vision.
0:01.2	Joined Formstack back in 2009 after one of his friends who created it in 2006, started seeing some traction.
0:06.7	He joined for a six-month kind of part-time role to find a new CEO.
0:09.9	Ended up never leaving.
0:11.6	Company now has 16,000 customers paying on average 70, 80 bucks a month.
0:15.3	So north of a million bucks per month in revenue.
0:18.1	Zero percent net revenue churn annually.
0:22.3	So expansion equals, obviously,
0:27.1	lost revenue growing 30 to 40 percent year over year, only a million bucks raised. So love that,
0:32.5	obviously. Great ratio there. A team of 115 people based in many, many remote locations from, you know, Indy, all the way the west coast, all the way back into the northeast as well. Super healthy
0:36.2	economics as well, $1,000,
0:39.2	$1,000, 12-month payback period.
0:40.3	Chris, we're rooting for you.
0:44.2	This is the top entrepreneurs podcast where founders share how they started their companies
0:46.9	and got filthy rich or crash and burn.
0:52.3	Each episode features revenue numbers, customer counts, and other insider information that creates
0:59.0	business news headlines.
1:01.0	We went from a couple of hundred thousand dollars to $2.7 million.
1:05.0	I had no money when I started the company.
1:07.0	It was $160 million, which is the size of any IPOs.
1:10.0	We're a bit strapped.
1:11.1	We have like 22,000 customers.
	...

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