1266 How To Spin a Business Out of a Public Company

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 11 January 2019

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

Richard Rabins focuses on strategy, accelerating global growth and scaling the organization. Richard also served as CEO of SoftQuad International from 1997 to 2001, when it owned Alpha. In addition to his 30 years with the company, Richard played a key role as co-founder, and served as president and chairman of the Massachusetts Software Council (now the Massachusetts Technology Leadership Council), the largest technology trade organization in Massachusetts. Prior to founding Alpha, Richard was a project leader and consultant with Information Resources, Inc. (IRI), and a management consultant with Management Decision Systems, Inc. Richard holds a master's degree in system dynamics from the Sloan School at MIT, and a bachelor's degree in electrical engineering and master's degree in control engineering from University of the Witwatersrand in Johannesburg, South Africa. He has served on the boards of Silent Systems, Legacy Technology and O3B Networks, and is co-founder of Tubifi www.tubifi.com.

Transcript

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0:00.0	Many, many years ago, decades ago, he got it was part of Alpha Software Group to about
0:03.3	25 million in sales, then sold it to a larger company, which he ran, then ran as president,
0:07.8	before leading a spinout in 2004 of the product, kind of the tech team, really starting
0:12.8	over there from scratch, Alpha Software, helping folks, really non-developers, build mobile
0:17.6	apps faster and more efficiently.
0:19.5	They've got a team of 50 people between
0:20.8	Burlington, Massachusetts and other remote locations, currently serving 3,000 customers that pay
0:25.6	on average called 140 bucks a month. So doing about 400, 500,000 grand a month right now on revenue,
0:29.9	or about a $5 million run rate. That's up from $3 million, just 12 months ago. So about 70%
0:34.5	year-over-year growth. They raised 10 million bucks and again,
0:37.8	growing rapidly with their team of 50. This is the top entrepreneurs podcast where founders share
0:44.8	how they started their companies and got filthy rich or crash and burn. Each episode features
0:53.2	revenue numbers, customer counts, and other insider information
0:57.0	that creates business news headlines. We went from a couple hundred thousand dollars to
1:03.0	$2.7 million. I had no money when I started the company. It was $160 million, which is the size of any
1:09.0	IPOs. We're a bit strapped. We have like 22,000 customers.
1:14.3	With over 5 million downloads in a very short amount of time,
1:18.6	major outlets like Inc are calling us the fastest growing business show on iTunes.
1:23.5	I'm your host, Nathan Latka, and here's today's episode.
1:27.7	Hello, everyone.
1:28.1	My guest today is Richard Rabin's.
1:30.4	He focuses on strategy, accelerating global growth and scaling his company Alpha Software.
	...

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