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SaaS Interviews with CEOs, Startups, Founders

How to Double Your Company From $16m to $30m Revenue Using Multiple Product Lines with Chilipiper CEO

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 2 January 2024

⏱️ 23 minutes

🧾️ Download transcript

Summary

After Tiger gave the founders $7m in a 2021 secondary at a $625m valuation, they took their team to Morocco for a team retreat. Seeing a weak market, they chose to cut the team from 225 down to 150 and become profitable. Despite these cuts, they’ve doubled revenue by selling 5 key product lines to sales teams. Will they do $50m in revenue in 2024? Chilipiper.com

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.

0:44.1

Guys, Chili Piper got going in 2016, 2017, helping SDR's book meetings. They broke 2 million revenue in 2018, went on to raise a lot of capital, broke 15 million

0:48.2

in revenue in 2021, and then they had to make a drastic change when markets compressed.

0:52.7

They took their team from 225 down to 150 after a team retreat in Morocco.

0:56.7

That made them instantly profitable, at least cash flow positive, bought them runway.

1:00.8

Now with a multi-product approach, over five products in the market with a new chat, GPT, or sorry, AI products coming.

1:06.5

They continue to drive growth.

1:08.2

They have 2,000 customers paying on average $1,200 per month with a self-serve option, getting ready to launch, which we're excited about.

1:15.6

Hey, folks. My guest today is Nicholas Vandenberg. He is building a company called Chili Piper.

1:20.6

Now, you might know them from their early product, which really has to do with scheduling, but they really expanded nicely to a multi-product approach.

1:31.8

He's been on the show many times. He went the hard route of, by the way, when I say hard route.

1:35.9

I mean, it's hard to raise VC. He did it. I mean, he played the game. Him and Alina, the Covenor,

1:44.5

they played the game. They got a lot done. Tiger came in with a huge round. They did a secondary, all that jazz you know they then had to make some cuts reposition the business and now revenue was growing again we're going to jump into all of it today nicholas are you ready to take us to the top

1:47.9

let's do it all right i want to go back to the team retreat you knew hours after the team or treat

1:53.7

you're going to have to lay off a bunch of people to sort of right size the business what year was that

1:57.3

again just remind my audience just last year was last november 20 june audience. Just last year. It was last November, 2020.

2:02.4

Last November. And before coming on here, I wanted to reach on and said, hey, how's revenue going?

2:06.9

And you told me, I don't want to say it out of our email, but you told me revenue today is about what in terms of ARR?

2:12.8

30 million, right?

2:14.6

And that's up from about 16 million in 2021, two years ago, right?

...

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