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David Barrett

๐Ÿ‘ค Speaker
146 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

So we have a whole team standing by that will help you get on board.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

And we've got different types of teams for different parts of the organization, different accounting packages and so forth.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

But I would say that, so it's not no touch, but there's no commission sales.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

And the lack of commission is what distorts everything.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

Sure.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

So like, so last year we were under a hundred percent, but I would say what's nice about, what's been really interesting is we're going through this kind of like the second S curve.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

So when I say S curve, everyone thinks it's like, you start slow, you grow fast and then you kind of like,

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

slow off into the distance sort of thing and so slowly die slowly yeah slowly die at scale i guess or something like that and um uh but one thing we're finding is very unusual about our business model and so um in the past couple of years we spend a lot of time making the product easier for smaller business like everyone thinks about the enterprise and how great the enterprise is enterprise sucks man it's just like it's super slow sales cycles the margins are terrible it's super competitive it's whatever the real opportunity is mid-market and below and so we've been reorienting the company around sort of mid-market companies and snb

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

And as we do that, we are actually seeing our revenue, uh, really accelerate, which has been great.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

And so I think that we have this very broad range of the market, everything from like individual to fortune 500, but like really the lower half is where the opportunity is at.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

Not going to get into those numbers in detail, but yeah, I would say like, uh, the nice thing is I think that accelerating at this scale,

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

is like turning the ship around at this scale is real hard to do.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

Oh, yeah, that's exactly right.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

And I would say the only reason...

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

we slowed down at all was because we got distracted by the enterprise.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

We started off with a lower mid-market SMB, and the enterprise was just there, it seemed good, they're like big names and so forth, and so we just kinda got distracted by them for a couple of years, and so now we're getting back to the basics, I would say.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

That's interesting.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

I don't know.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

We've always tried to keep ourselves the least expensive option in the market.

SaaS Interviews with CEOs, Startups, Founders
985 How Expensify Hit $60m+ Magic on Bottom Up Business Model

And...