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SaaS Interviews with CEOs, Startups, Founders

15 year old launches unique app, breaks $1m revenue, raises $10m

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 29 May 2022

⏱️ 25 minutes

🧾️ Download transcript

Summary

Uber for laundry

Transcript

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0:00.0

There's 125 million households producing 50 pounds of nonstop laundry every single week.

0:06.9

If you do the math at a dollar per pound, which is what we charge, it's a 300 billion

0:12.2

dollar market in the U.S. alone.

0:16.2

You are listening to conversations with Nathan Latka, where I sit down and interview the top SaaS founders, like Eric Wan from Zoom.

0:25.5

If you'd like to subscribe, go to getlatka.com.

0:29.6

We've published thousands of these interviews, and if you want to sort through them quickly by revenue or churn, cack, valuation, or other metrics, the easiest way to do that is to go to

0:39.2

gitlatka.com and use our filtering tool. It's like a big Excel sheet for all of these podcast

0:44.1

interviews. Check it out right now at gitlatka.com. Hey folks, my guest today is Mort Fortell. He's a

0:52.5

serial entrepreneur who started his first business at 18 years old.

0:55.4

He has a private equity portfolio that consists of SudShare, two other businesses and real estate holdings.

1:00.4

Sudshare is basically Uber for laundry. And you said there's an opportunity here.

1:13.4

Sort of. It started in 2017 with one comment my wife made. She was home with five kids,

1:18.9

buried in laundry. And she's like, this is crazy. I can tamp an app and get to the airport,

1:23.9

FaceTime someone on the other side of the world, but I'm still doing laundry like my grandmother.

1:28.7

And she was right.

1:29.5

Technology's made everything so fast and easy, except for this chore that we hate the

1:33.8

most and that takes the longest laundry.

1:36.5

It's actually shocking.

1:37.7

There's been no innovation in this space since the washer and dryer almost a century ago.

1:42.8

So my son was in the laundry room at the time,

1:45.4

and he's a typical teenager. He was 16 years old. He's like, look, I'm not helping you with

1:49.5

the laundry mom, but I can solve this problem for you. I'll build you an app. So we thought he was

...

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