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SaaS Interviews with CEOs, Startups, Founders

1514 They Gamify Price Negotiations for Consumers, $100m in Sales, They Take 2-6%

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 16 September 2019

⏱️ 22 minutes

🧾️ Download transcript

Summary

Stephen is a business and civic entrepreneur.
A former U.S. Navy Reserve Officer, U.S. Peace Corps Volunteer, Stanford-educated attorney, and NCAA Division I fencer, Stephen is also co-founder of PriceWaiter, Delegator, ProDiligence, Smart Furniture, Chattanooga Renaissance Funds I & II, and the non-profit ventures Causeway and CF Smackdown.

Transcript

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0:00.0

Price waiter launched a couple years ago. They're now working with over 400,000 consumers,

0:04.7

helping them get better deals. They've processed over the past 12 months, about 100,000 unique

0:09.8

offers to these consumers. Again, partner with hundreds of retailers like Gaffos that sell

0:14.4

millions and millions of different product lines. The way that Stephen makes money is he takes

0:18.6

anywhere between 2 and 6% of the sale that he's driving these retailers that they wouldn't have gotten otherwise.

0:23.6

And he also has a legacy SaaS product that continues to do well.

0:27.1

Hello, everyone. My guest today is Stephen Colp. He's a business and civic entrepreneur, a former U.S. Navy Reserve Officer, US Peace Corps volunteer, Stanford Educated Attorney, and NCAA Division I Fencer,

0:38.6

Stephen is also co-founder of Price Waiter, Delegator, ProDiligence, Smart Furniture, and Chattanooga

0:44.9

Renaissance Funds, 1 and 2, along with a nonprofit venture, Causeway, and CF Smackdown.

0:49.5

Steven, your plate is full, man. Are you ready to take it to the top?

0:52.3

Yeah, the plate is full. You're right. Let's add to it. Let's talk about Pricewaiter, since that's the company. So what does the

0:58.3

company do? And what's your revenue model? How do you make money? Yeah, so Pricewater

1:02.4

helps save people money by negotiating better deals for them. Virtually any product, anywhere on the

1:08.3

web, simply, quickly, privately. It doesn't yet have every

1:12.2

product in its database, but we're adding thousands every day. Revenue model is we take a commission

1:17.7

on the sale, so the consumer doesn't pay anything. The retailer pays us, but it's absolutely

1:23.0

worth it for them because they have no cost of acquisition whatsoever. Yeah. So actually walking

1:28.6

through the case here, so I'm, you know, the website, I'm on your website. Let's use the Rayban example.

1:33.4

There is a price that Justin Classic Silver for 143 bucks. Is Rayban paying you for a widget to put

1:40.2

on their website where people can make an offer? Oh, yeah. So who's paying you?

1:44.5

Yeah.

1:50.1

So the retailer who takes the deal, who negotiates the best deal for you as a shopper,

...

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