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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

People would be like, that would be a multi-billion dollar 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

You said it, not me.

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, because that is what we thought it was going to be.

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, you know, there was things where there were a lot of stuff we're right about.

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 think

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

one of the things we were very wrong about in the early days was just like the speed that our market would grow.

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 thought our market would be like two years giant.

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, what we didn't understand was that like, at least for business video, people wanted to be, they were nervous about the brand impact and then they're nervous about getting a camera and then they're nervous with the ROI and all of these things have been like a governor on our 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

So our market's been a very, very good market, but it has taken way longer than people expected.

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 you can look at the list of competitors we've had in the past, and many of them were overfunded, actually, and that's why they failed.

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

Because they tried to get the market, and the market wasn't there.

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

Then they had a giant team, and they couldn't support it, and so they'd get sold off or whatever.

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 115 people.

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

No, 2017, we're about 78 people.

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 can.

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 there's the two rounds, there's different returns, but it was around 20 X. Okay.

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, one was a little less than 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

We raised 17.3.

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 here's the other interesting thing is that we're getting pressure for liquidity.

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

People wanted liquidity.