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SaaS Interviews with CEOs, Startups, Founders

Why he shut down his $40m Revenue Grocery company and moved into data recovery

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 9 January 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

He raised $16.9m and hit $40m in revenue. Success? Wrong. He shut his unprofitable grocery delivery company down in 2021 then spent a year working with liquidators. Today, he’s moved industries to the Dev Ops space and launched his disaster recovery SaaS Bennudata.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, cac, 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.

0:38.8

Pobble is building venue data.

0:40.5

They have three pilot customers currently in the Berkeley batch, which invested $200,000

0:44.5

for a 7% stake.

0:45.6

They raised 400,000 bucks in their seed round.

0:47.6

The company helps with automated cloud discovery backup platform.

0:51.5

He learned a lot of this first company, Fridge No More, scaled it from

0:54.2

zero to 40 million bucks of revenue, but then ended up having an unprofitable sort of lines

0:57.9

of business. Ultimately, couldn't keep up and had to sort of shut that company down,

1:00.9

learned how to liquidate, which was painful, but good lessons to learn. We're obviously

1:04.3

rooting for him. Rooting for him here. Hey, folks, my guest today is Pavel Danylov. He, before co-founding Ben U Data in November

1:11.3

2022, he's co-founder and CEO of Fridge No More, an ultra-fast grocery delivery company.

1:16.8

They scaled that from zero to 40 million bucks of revenue, 30 dark stores, 85,000 customers

1:21.4

in New York and Boston from 2020 to 2020. Before that, he worked at an investment banking for

1:25.4

eight years and we're excited to have them all today.

1:27.6

Pavel, you ready to take us to the top? Yeah, I think you've had me.

1:31.1

You bet I have to talk about the Ghost Kitchen stuff because I had many people on, many people on in 2021, 22.

1:38.8

Alex Cantor at Order Mark is one that rings a bell. These guys were crushing it.

1:43.2

And then all of a sudden, Ghost Kitchen just went off a cliff.

1:45.6

And, you know, Alex basically shut the company down.

...

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