Andrew Myers. He grew up in Denver, Colorado and recently left Yale before the start of his senior year to pursue Ripple Recruiting, full-time. He now serves as a CEO in a fast growing, 12-person startup.

Famous Five:

• Favorite Book? – Anna Karenina
• What CEO do you follow? –  Kevin Ryan and Reid Hoffman
• Favorite online tool? —PersistIQ and Slack
• Do you get 8 hours of sleep?— No
• If you could let your 20-year old self, know one thing, what would it be? – “Go for it”

 

Time Stamped Show Notes:

• 01:34 – Nathan introduces Andrew to the show
• 01:56 – Ripple Recruiting allows employers to create their dream applicant
• 02:32 – The whole revenue model is based on the employers and Ripple Recruiting is subscription based
• 02:43 – Ripple Recruiting is both a marketplace and a SaaS business model
• 03:04 – Ripple Recruiting has three subscription packages
• • 03:15 – Average contract size is about $300 a month
• 03:25 – Andrew shares the differences between the packages
• 04:25 – Andrew won’t sell Ripple Recruiting at this time
• 04:50 – Andrew and his partner are first time founders
• 05:05 – Andrew and his partner both have strong opinions regarding their business
• 05:40 – Ripple Recruiting was launched in 2015
• 05:54 – First year revenue
• 06:03 – Andrew’s focus is on user engagement, rather than revenue
• 06:36 – Total debt Andrew has for Ripple Recruiting
• 07:00 – Ripple Recruiting has raised in a seed round
• • 07:12 – Ripple Recruiting will be in a series A, soon
• 07:24 – Ripple Recruiting has a syndicate
• 08:11 – No revenue in 2015
• 08:20 – Ripple Recruiting has 15 paying clients at the moment
• 08:30 – Average MRR
• 09:00 – Andrew shares the pitch to investors
• • 09:10 – Ripple Recruiting currently has over 10K Ivy League students signed up, on the platform
  • 10:36 – Ripple Recruiting’s valuation
• 11:18 – Andrew wants to raise $2-3M is series A
• 11:30 – Andrew wants the highest valuation possible
• 12:11 – Andrew already has the strategies to build the syndicate
• 13:05 – Andrew wouldn’t take a $13M deal
• 13:58 – Andrew has just started focusing on revenue in terms of sales stream
• 14:42 – The customers are paying for their access in Ripple Recruiting’s database
• 15:52 – Andrew believes that they’re doing it better than other competitors in the space
• 17:07 – Ripple Recruiting doesn’t have an official hire number yet
• • 17:23 – Andrew is seeing 20K students being hired on Ripple Recruiting
• 17:30 – No churn yet
• 18:58 – The whole Ripple Recruiting team ages between 22-25
• 20:50 – The Famous Five

 

3 Key Points:

• Being new to business allows you to be more optimistic, but listening to those who have done it can definitely help.
• A good pitch can drive good investors.
• Start early – if you truly feel that you should do it, then NOW is the right time.

 

Resources Mentioned:

• Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
• Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
• Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal
• Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
• Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
• The Top Inbox  – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
• Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
• Show Notes provided by Mallard Creatives