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The Exit - Presented By Flippa

Growing to $12M in Annual Revenue and Knowing When To Exit with Redg Snodgrass

The Exit - Presented By Flippa

The Exit - Presented By Flippa

Technology

52K Ratings

🗓️ 13 November 2023

⏱️ 30 minutes

🧾️ Download transcript

Summary

This week on The Exit: Redg’s career started with a role at an eBay startup, where he witnessed the dynamic nature of startups firsthand. Having played a pivotal role in propelling the company from zero to $1M in revenue within a few months, Redg caught the startup bug as he calls it. His journey continued with the creation of a pioneering Apple dating app, followed by the establishment of a global events and media organization boasting 6 million subscribers. Then Redg founded ReadWrite with the vision of providing media exposure to entrepreneurs irrespective of their backgrounds. After a $12M investment and achieving $12M in revenue, Redg was maxed out and the company was maxed out too. Faced with this challenge, he made the difficult decision to accept an offer that wasn't his first choice. Listen to Redg’s compelling story of resilience and acceptance, and the importance of understanding when to let go, before it’s too late. Redg Snodgrass is the Co-Founder and CEO of EdgeIn, a platform that allows you to connect to builders from over a hundred thousand Web3 organizations; companies, investors, events, and media to people, updated daily. Redg has a collaborative 15+ years of experience as an executive tech leader, board member, recruiter, and rebuilder for exponential businesses across industries such as ecommerce and mobile, and private, and startup companies. As an entrepreneur with a senior corporate background ending in multiple exits and acquisitions, Redg understands how companies can create, leverage, partner with and strategically take innovation to market successfully. LinkedIn: https://www.linkedin.com/in/redgiesnodgrass/ Website: https://edgein.io/ Flippa’s First Access: https://flippa.com/exit For a Free Flippa Business Valuation: flippa.com/freevaluation -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Transcript

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0:00.0

Hello, and welcome to the exit presented by Flipup, the number one platform to buy and sell online businesses.

0:06.0

Flipup manages over a billion in deal value annually and combines expert buy and sell side advisory with its market leading valuation tool,

0:14.0

deal room, off market offering, market insights and AI based deal by deal matching engine. Now for the exit.

0:22.0

The exit is a 30 minute podcast featuring awesome entrepreneurs who have been there and they have done it.

0:27.0

The exit talks to operators who have bought and sold businesses of all different sizes. You learn how they did it.

0:32.0

Why they did it and get exposure to the world of exits. It's a world occupied by a small few but accessible to many on this episode of the exit.

0:41.0

I sit down with red snot grass. He's a fantastic entrepreneur who walks through his journey of getting the entrepreneurial bug all the way to scaling his business to 75 employees and going through a kind of a tumultuous exit with read right.

0:58.0

And if you're thinking maybe I've heard that brand before you probably have is a massive publication and reds did an incredible job of growing it into this accelerator that had over 100 startups going through it and very much like a YC tech crunch marriage.

1:17.0

He had this open to entrepreneurs from all walks of life where they could go through the accelerator, get exposure through read right.

1:25.0

And it was a really incredible relationship that he developed between the US and China and his company to pass IP and he walks through what happened after 2016.

1:37.0

And it's a really great story and the way that he unpacks it is brilliant because you can understand that when you're at a certain scale and you have a mission, you have a vision, things can happen that are out of your control that can completely just derail your mission.

1:54.0

And Reg has had multiple successes, really great successes in his in his career. And his finale question is something that everybody should listen to.

2:05.0

So definitely stick around to the end because it's about your tribe, the people that you come up with, the people that you start businesses alongside not necessarily with the people that you moved to Silicon Valley with, for example, with what what Reg talks about.

2:21.0

When all those people are millionaires or they're all doing well, that's a win for the collective tribe. And I think it's such a cool way of looking at life and has been entrepreneur where you can kind of walk into the gauntlet of your next venture because you know that your tribe is is backing you and I think it's such a wise approach.

2:43.0

So a really wide ranging conversation here with red fantastic to sit down with such a legendary entrepreneur. So without further ado, let's sit down here on the exit with red snoggrass.

2:55.0

All right, I am here with red snoggrass and he is the co founder and CEO of edge and how's it going? Reg, thank you very much Steve glad to be here.

3:17.0

Yeah, yeah, I'm excited to unpack your success and one pack some of the stories there and we were talking offline before this and I'm eager to hear more, but before we do unpack some of the crazy experiences you've had, let's talk about your background, what got you started in business and entrepreneurship.

3:37.0

No, you know, I think a lot of us, we don't know who we're going to be or what we're going to do and I was, you know, 27, you know, really trying to figure that out. I got offered a role at square trade, which at the time was an eBay startup, super, super tiny group.

3:55.0

I had to build a warranty division. I went from an intern to managing like through the company in six months. I thought it was going to be a rock star. I thought starters were for me, worked with a guy trying to do a startup right after that. So I caught the bug of what it's like to go from zero to a million in revenue in a few months and that, you know, that rush right keeps me coming back.

4:18.0

Yeah, yeah, that whole like market pulling you feeling of giving something of value out there is pretty pretty incredible bug that you can't shake.

4:27.0

Yeah, you know, and it drove me on. I mean, it's, you know, you propel yourself for an ignorance, you know, and energy when you're younger.

4:36.0

And so I, I went and joined a small analyst group called under the radar and learned about the mobile industry and found the startup called Scout. And I jumped immediately at the chance it was a first iPhone dating app.

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