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SaaS Interviews with CEOs, Startups, Founders

903 $700m Goes Through BizX As SMB's Barter and Trade Services and Goods

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 13 January 2018

⏱️ 17 minutes

🧾️ Download transcript

Summary

Transcript

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0:00.0

This is the top entrepreneurs podcast where founders share how they started their companies and got

0:06.9

filthy rich or crash and burn. Each episode features revenue numbers, customer counts, and other

0:16.1

insider information that creates business news headlines. We went from a couple hundred thousand dollars to 2.7 million.

0:23.6

I had no money when I started the company.

0:25.6

It was $160 million, which is the size of any IPOs.

0:29.6

We're a bit strapped.

0:30.6

We have like 22,000 customers.

0:33.6

With over 5 million downloads in a very short amount of time, major outlets like Inc are calling us the fastest growing business show on iTunes.

0:43.6

I'm your host, Nathan Latka, and here's today's episode.

0:48.6

Hello, everyone.

0:49.4

My guest today is Bob Baga.

0:51.5

If you have not met him or heard of him before. He is the founder and CEO of a company

0:54.7

called Bizex. It's a membership-based association where members can buy and sell products and services

0:59.6

using BizX dollars. The company has facilitated 700 million in small business transactions

1:04.7

for a total of 300 million in cash savings. Bob, are you ready to take us to the top?

1:10.2

Yeah. All right, break those numbers down for us. What exactly does that mean? 700 million in cash savings. Bob, are you ready to take us to the top? Yeah. All right, break those

1:11.4

numbers down for us. What exactly does that mean? 700 million in transactions and 300 million in

1:16.0

cash savings. So we have a community of businesses that are all are able to buy and sell amongst

1:22.7

each other. And rather than using US dollars, they use bizex currency, bizex dollars.

1:28.6

Why would they do that?

1:30.0

The reason why they do that is that they're saving cash.

1:33.0

And so you might have a restaurateur.

...

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