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SaaS Interviews with CEOs, Startups, Founders

Collective Raises $50m to Take on Rippling, ZenBusiness. $1m MRR Next?

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 1 March 2023

⏱️ 26 minutes

🧾️ Download transcript

Summary

Financial platform for Businesses-of-One.

Transcript

Click on a timestamp to play from that location

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.

0:13.6

If you'd like to subscribe, go to getlatka.com. We've published thousands of these interviews,

0:19.5

and if you want to sort through them quickly by revenue or churn, cac, valuation, or other metrics, the easiest way to do that is to go to gitlatka.com and use our filtering tool.

0:30.1

It's like a big Excel sheet for all of these podcast interviews. Check it out right now at gitlatka.com.

0:37.6

Guys, he had a nice success. Learned a growing ad this, exiting to Oracle for a report over 200 million bucks, then took a break in another company.

0:43.6

And eventually said, you know what, this one man business is the new way to build a company in America.

0:47.2

Profitable, $3 million, $4 million in revenue is the way to go.

0:50.0

He saw an opportunity, launchcoll collective.com in 2020. They're now getting thousands of applicants every

0:54.4

month, very clear pricing at 300 bucks a month or a slight discount, 15% if you pay up front.

0:59.4

He said, quote, they've got thousands of customers. They caught between 1,000 and 10,000.

1:03.4

They've grown using outside capital, 7 million seed raised back in 2020, sold around 15% to 20%

1:08.5

on the company, then raise a 20 series A and a $25 million call

1:11.6

at note, write extension on the A. We'll see what happens next. They look to grow and scale

1:15.4

add new pricing plans and continue serving these one-man businesses. Hey, folks, my guest today

1:20.7

is whom in Radfar, he's a serial entrepreneur and the co-founder and CEO of Collective, the first

1:24.7

all-on-one financial platform designed for businesses of one. He previously

1:28.6

started Ad This, which was acquired by Oracle, was a founding partner at Ex-Pud, and as an early investor

1:33.0

in Uber, Sweet Green, Convoy, and Moore. Who on? You ready to take us to the top? Let's go.

1:38.2

All right. So real quick, again, when was that? Oracle acquired Adthis, right? Correct.

1:43.6

What year was that?

1:45.8

The acquisition, I believe, was done in 2015, and I want to say it closed the beginning of 2016.

1:52.2

Okay, so did you go right into collective after that, or you'd take a break?

...

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