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SaaS Interviews with CEOs, Startups, Founders

Can this new AI tool grow into their $10m valuation?

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 11 August 2023

⏱️ 19 minutes

🧾️ Download transcript

Summary

Transcript

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0:00.0

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

0:10.3

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

0:14.4

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 gitlatka.com

0:25.1

and use our filtering tool.

0:26.7

It's like a big Excel sheet for all of these podcast interviews.

0:29.8

Check it out right now at gitlatka.com.

0:35.0

Guys, node.a.I got going, call it six months ago researching.

0:38.9

They just closed a $500,000 convertible note with a $10 million cap.

0:42.2

So call it the sold 5% of the business.

0:44.3

Pretty healthy.

0:44.8

The question now is, can they get MBA students, is their initial ICP target?

0:48.4

Can they get these students using the tool?

0:50.6

And then after that, can they start turning on a revenue stream here?

0:53.4

We will see what happens. Justin's got experience, though, two time exited, first time exited founder, second time exited founder, bootstrap VC, Node is his third project. We'll see where it goes.

1:03.5

Hey, folks, my guest today is Justin Shum. He's building node.aI, which extends human reasoning and-making abilities, he's building on his own

1:11.0

experience. So, three-time founder, one bootstrap, one exit, and one venture backed. Justin, you ready

1:16.4

to take us to the top? Absolutely. Let's do it. All right. What was the name of the bootstrapped one?

1:21.7

Yeah, ready chat. Founded back in 2013, exited it in 2015. Ready chat. Okay. And what was the, you bootstrap that, right?

1:30.2

Yep, you got it. So like no angels, you just put in your own money, basically? Yes, that and a lot of

1:35.9

blood, sweat and tears, yeah. And how many years was that again, you said? We operated for three years,

1:41.4

and then we had an acquisition. Okay. And did you, I mean, did you guys break a million bucks of A or R at that point?

1:46.7

Or what were you when you exited?

...

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