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Amit Shanbhag

๐Ÿ‘ค Speaker
228 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

Um, so this is a real problem.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

We realized that there was a huge opportunity.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

We knew how to solve it.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

Um, we quickly built a prototype.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

Um, and that's how Rocket Reach was born.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

Okay.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

Yeah, so it's five people right now.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

There are three co-founders, and then there's one salesperson and one customer service person.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

So we are really, really tiny.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

We are completely bootstrapped, 100%.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

I did try to raise a small round, and I can tell you something about my experience.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

But very quickly, I did try to raise a round.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

How much?

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

Uh, we tried to raise a small round.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

So we tried to raise about like 750 K. Okay.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

I won't tell you the valuation, but, uh, 750 K small seed.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

Um, the terms we got, uh, terms from maybe three people, two people for sure.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

And the third was about angels.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

They were all, um, you know, in retrospect, we should probably, uh, maybe gone to angels, but we went to institutional investors.

SaaS Interviews with CEOs, Startups, Founders
EP: 465: 120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

Got it.