4.9 β’ 606 Ratings
ποΈ 23 June 2021
β±οΈ 64 minutes
ποΈ Recording | iTunes | RSS
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0:00.0 | What's up everybody? This is Cortland from AndyHackers.com and you're listening to the |
0:10.9 | EndieHackers podcast. More people than ever are building cool stuff online and making a lot of |
0:15.5 | money in the process. And on this show, I sit down with these indie hackers to discuss the ideas, |
0:19.7 | the opportunities and the strategies they're taking advantage of so the rest of us can do the same. |
0:29.1 | I'm here with Chris Bucky, the founder of Lasky.com, and also the founder of interviewed. |
0:34.1 | Chris, welcome to the show. |
0:35.3 | Yeah, thanks for having me. |
0:36.7 | You popped on my radar basically |
0:38.1 | a month ago, maybe a few weeks ago. You did an AMA on Andy Hackers, and the title of it was |
0:44.0 | built my last company to $2.5 million in annual recurring revenue, became profitable in two and |
0:48.7 | half years, and sold it for mid-eight figures, which you clarified to be around $50 million. |
0:55.5 | And then you said, |
0:59.6 | and going even bigger this time, ask me anything. First of all, how do you sell a company that's making $2.5 million for $50 million? I think that there's a lot that goes into that. |
1:06.9 | I mean, I think clearly it has to be some sort of strategic initiative by the acquirer. |
1:12.1 | I mean, there's many ways to get to those multiples. |
1:15.6 | I think sometimes if revenue is growing crazy fast, you can get there. |
1:20.1 | If it's a really hard market, you can get there. |
1:22.6 | I don't think either was necessarily true for us. |
1:25.1 | I mean, revenue obviously grew fairly quickly to get to two and a half, three million in about two and a half years from zero. But, you know, it wasn't one of these stories. You hear companies today occasionally who are just growing at like their doubling revenue month over month or whatever. That was never the case for us. It was kind of felt like when we were in it, it felt like a slow and steady grind growing, you know, 10, 20 percent month over month in a lot of cases and it just compounds quickly. You know, if you don't have a churn issue, stuff like that. But in terms of the acquisition and the outcome, it's a long story and happy to go into it. But indeed, it was actually one of our early investors. They then became a customer and then they became our acquirer. |
2:05.5 | And so it was really almost from day one, I think over two years of getting to know the team, |
2:06.2 | working with them. |
2:11.3 | And it just so happened that that business, which was running non-technical assessments, so as all of these technical assessment companies, hacker rank and whatnot, were coming up, |
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