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Cody McLain

๐Ÿ‘ค Speaker
189 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

He made me CEO after he had bought it.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

But during the whole litigation process, he went to great lengths, damaged the reputation of the company in order to kind of bend over backwards and just give it to him.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And so by the time he took over the company, it was massively in debt.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

It was having- How much in debt?

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

It wasn't much, but the problem was the profit margin was nil.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

It was in the red.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And after he bought it, he didn't realize that he would be having to actually end up using his own money to pay $30,000, $40,000 of server bills that the business could not afford to pay.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

was a loss of reputation that we had as a result of his litigation so he lost customers basically well no he didn't buy the customers but he ended up screwing the reputation uh like in one case he got a temporary injunction because we actually found out that a server administrator was colluding with him and so even all of our all all of our emails between our us and our lawyers was being sent to him so he was always a step ahead of us and uh he was going he made a

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

behind scenes deal to give him like equity and make him a CEO, which never actually happened.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

But then he got this temporary injunction when we figured that out, that our admin was colluding with him, that we shut him all of access to the servers.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And so then he went to a court and said, hey, look, they're damaging the company because I don't have equal access.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And it wasn't true, but he went to our server provider at the time, which was actually SoftLayer.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And at the time, SoftLayer only had like one person in their legal department and she freaked out.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And so what they ended up doing was shutting down all of our servers.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And we had close to 100 servers with thousands of customers.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

Yeah, yeah.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

Well, eventually, after we just decided to give him the company and he repaid legal fees and other things of that sort, he made me CEO for a few months, but it was really beyond repairable at that point.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And then he was threatening again to sue me and all these other things.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

So I just said, you know what, I quit.

SaaS Interviews with CEOs, Startups, Founders
EP 341: 15 Year Old Sells Company, Creates and Sells 3 More for Almost $1M with Cody McLain of SupportNinja

And at that point, I had less than $70,000 in my bank account and I really didn't know where to start.