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Ethan Anderson

๐Ÿ‘ค Speaker
232 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

Again, I'm not supposed to talk about that either.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

I wish I could.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

But they made a sign confidentiality agreements.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

Well, you know that, I'll say this, you know that VCs always want a minimum 10x return, right?

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

Yeah, usually, yeah.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

You know, otherwise, and the VCs were supportive and they would have reinvested in a Series B and given us additional capital if we wanted to go in that direction.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

So for them to be supportive of a sale after just one round of financing, you can imagine that, you know, they have a goal of hitting a 10x return.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

You know, companies get bought, not sold.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

And so Home Depot came to us.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

They were very serious about acquiring it.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

They'd met with us a year before.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

They were tracking us very closely.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

And they felt that this was their chance to build a Walmart Labs on the West Coast.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

You know, if you're familiar with Walmart Labs, it's been very successful.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

Home Depot wanted something like that.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

And they lacked technical talent in Atlanta where they're based.

SaaS Interviews with CEOs, Startups, Founders
EP 112: He Quit Google Now Serial Entrepreneur

And they thought, you know, this is a fantastic company.