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SaaS Interviews with CEOs, Startups, Founders

Economics of a $37,500 Pre Seed Uncapped Convertible Note

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 7 October 2023

⏱️ 15 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

0:09.9

SaaS founders, like Eric Wan from Zoom.

0:13.6

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

0:17.7

We've published thousands of these interviews, and if you want to sort through them quickly by

0:21.8

revenue or churn, cack, valuation, or other metrics, the easiest way to do that is to go to

0:27.4

gitlatka.com and use our filtering tool. It's like a big Excel sheet for all of these

0:31.9

podcast interviews. Check it out right now at getlatka.com.

0:38.6

Guys, in 2019, raised a $37,000 500 pre-seed round to launch his company,

0:43.1

manageable.com, which helps teams get trained better, increases employee engagement.

0:47.7

He got his former employer as first customer.

0:49.8

Now three customers.

0:51.0

He's doing about $1,700 per month in revenue.

0:53.8

He supported himself for the past

0:55.4

five years while they built the MVP with consulting work, but is now saying, hmm, do I go full time?

0:59.6

Do I go all in? We sure hope he does. Hey, folks. My guest today is Steve Petersheim. He's building

1:05.2

manageable. That's MNGBL.com, giving you accurate and useful appraisal. Steve, you ready to take us to the top?

1:12.7

Sure. All right. Did you come from real estate and say I'm sick of fighting for a 3% commission

1:16.8

every month? I'm going to go build software instead. No, I came from my original career was

1:23.8

newspaper distribution. So operations is what I did for the early part of my career.

1:29.0

That's way back in the old economy days. You know, anyway, then after that became, you know,

1:36.4

not a thing, you know, didn't want to do that anymore. And then I decided to get into HR

1:40.8

because when I decided to change careers and I thought, okay, of all the things I did

...

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