4.6 • 683 Ratings
🗓️ 6 November 2023
⏱️ 28 minutes
🧾️ Download transcript
Launched in 2012, this company hit $1m revenue 1 year after launch. Today, they do $40m and the founder still owns 69%. 17% investors. 14% ESOP pool. Can he bootstrap to $100m by 2026?
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0:00.0 | As Rab launch his first company, raised 15 million bucks of equity and sold it to R.R. Donnelly, |
0:04.4 | then went into about, call it, 2012 time frame, launched Nejas, which is serving financial institutions, |
0:10.5 | helping them to launch customized offers to consumers faster in a more automated way. |
0:14.6 | They broke a million dollars of revenue in 2013, 10 million in 2019. |
0:18.5 | Last year did 35, and today had a run rate of about 40 million bucks. |
0:22.0 | He's done this basically bootstrap. Call it 2 to 3 million raised early on. Investors today |
0:26.0 | own 17%. ESOP pool of 14%. He owns the rest and he's really serving 20 specific financial |
0:32.0 | customers. Several of them pay more than $10 million per year. So really deep, not wide. He has said, though, |
0:37.8 | moving forward, he'd maybe look at the other hundreds of financial institutions with 10 billion |
0:41.7 | or more in AUM. We'll see what he does next. Hey, folks, my guest today is Rab Goebel. He's the founder |
0:47.2 | of multiple enterprise software companies, including Xenarate and Nahas, which serves some of the biggest |
0:51.8 | brands in financial services. He's got an MS from |
0:54.1 | Rochester Institute Technology and Computational Imaging, where he was the president's scholar. He's |
0:58.8 | also serves on the board as a board member at AL for all. Rab, you ready to take us to the top? |
1:04.5 | Sorry, AI for all. Rab, you ready to take us to the top? Of course. Of course. All right. So what is Nehaas? Give me a customer story. |
1:11.6 | How has a customer use you? |
1:12.6 | So the best story we can use it is you pick any of the top ten banks in the country. |
1:19.6 | When they want to send a new product, create a new product or send a new offer to you. We are the organization, we are the platform |
1:31.5 | they use to create the new product, or pricing, or a specific offer for a consumer. It is |
1:41.1 | approved in our platform. The content for that offer is created in our platform. |
1:47.4 | It's delivered into the channel using our platform. |
1:51.6 | And then when a customer actually takes advantage of this product or offer, |
... |
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