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Chris Savage

๐Ÿ‘ค Speaker
809 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

And that is what we use to fund ourselves the first two years.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

Yeah, I think the revenue range was around like.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

About, like, right at the time of the offer, I think we were about, like, an $18 million run rate or so.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

And I don't remember the exact customer number offhand at the time.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

You know, what's funny is that we actually had three companies approach us at the same time that all said, we want to acquire you.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

And I...

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

I was quite surprised because people have pinged us over the years and poked around, but never have we had three companies at once.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

And the fact that those three companies came at once, we're like, oh, maybe something's changing in the market.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

And so we should take these offers more seriously.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

And then it just kind of evolved.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

You don't really expect to be spending your time doing that, and then suddenly you're spending all your time talking to people about it.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

It became very time intensive because, you know, there was like, we were, we really were not sure what we wanted to do with the business actually.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

So it was like, we had the acquisition offers coming in.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

We also had thought maybe we would raise a growth round.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

So we were talking to growth firms.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

I mean, when I was being sold, what they were trying to convince me to do is to raise, you know, 40 million bucks, something like that.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

Um,

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

And so we were spending a lot of time like looking at our data and looking at the unit economics and like how things were changing and evolving, um, and thinking through what we would do in each of the different scenarios.

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

Um, it was returning, it was turning into a term sheet almost exactly the same time that, um,

SaaS Interviews with CEOs, Startups, Founders
1757 How Wistia Hit $18m Revenues, Used $17m Debt from ACCEL KKR To Buy Out $1.4m Seed Investors With Tender Offer

we were getting like the real offers.