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SaaS Interviews with CEOs, Startups, Founders

How Bootstrapper Made $6m Last year Using New Self-Funding Method

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 28 March 2024

⏱️ 23 minutes

🧾️ Download transcript

Summary

Companies like Samsung are sourcing college talent using Scholarship Owl. The firm hit $6m in 2023 revenue, bootstrapped. 150,000 college students join the platform monthly increasing the size and quality of the talent pool the company’s B2B customers can pay to access. Can he hit $10m this year?

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.

0:13.5

If you'd like to subscribe, go to getlatka.com. 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 and use our filtering tool.

0:30.0

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

0:44.3

Scholarship owls helping large brands like Samsung connect with college students or around the college student age. He also helps 20,000 college students generate and get access to over a million dollars of scholarship revenue.

0:50.3

That's what they paid out last year alone.

0:52.3

Processing over 150,000 signups per month right now. They got a robust engine. We're thrilled, obviously, that he used founder path for some non-dilutive capital as he's grown, totally bootstrapped to over $6 million of revenue up from $3 million back in 2020.

1:06.0

Hey, folks, my guest today is David Abakshnikov. He is building scholarship al.com, which helps connect

1:11.5

consumer brands to Gen Z. He's got over two decades in tech, including roles as R&D

1:16.9

manager and engineering at Google and Ways, and he specializes in bootstrapping companies

1:21.2

and excels as a remote team expert. He travels a lot. He's got a passion for data, matching algorithms,

1:27.2

and AI development long

1:28.5

before it was mainstream, which complements his keen interest in Gen Z and content creation. David,

1:33.6

you ready to take us to the top? Yeah, nice. All right. You have to back that statement up. So you say

1:40.2

you were in AI long before it was mainstream. Were you doing any sort of AI stuff at Google or Ways back in the day?

1:45.6

So we did a bit at Google and Ways.

1:48.0

We did it quite a bit in scholarship power as well for a few years now.

1:51.0

I mean, we leverage a lot of AI to do efficient matching and kind of like extract intent from kind of audiences in the most efficient way. So we've been doing

2:04.2

quite crazy AI algorithms in scholarship owl as well. Now, if you guys have listened to my last

2:11.3

interview with David, which is all the way back in 2021, you will know that scholarship owl is helping

2:16.2

folks. So, you know, kids that are maybe junior,

2:18.7

seniors in high school looking to go into college. It helps you quickly apply for different

2:22.9

scholarships. But he's built a massive engine where there's tens of thousands of students doing

...

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