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Ivan Smolnikov

๐Ÿ‘ค Speaker
139 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

No, we negotiated with our shareholders that we need to change cap table to allow us to focus on it.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

So we sold, with my partner, we sold the portion of the, actually our shares in the previous business and focused on this business completely.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

And the venture firms actually invested in this new setup.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

Actually, it's close to 65 people because the technology is pretty big and we needed to catch up with those guys who have been on the market for 20 years.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

So we actually need to invest a lot in development.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

And most of the people are engineers.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

Actually, we have a small location on the West Coast where I am.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

We also have our office in New Jersey.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

And there are two more offices.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

The first one is actually focused on our R&D in Moscow.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

And the second one is on Cyprus, focused on financial operations.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

You know, we don't actually split between SaaS and marketplace because usually it comes together.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

I see.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

The question is only if we charge for technology or not.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

And that is the difference.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

But technology is a core attractor for all our customers.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

I would say 98% of our customers are coming to us because of the technology.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

And because technology is actually free, it allows us to grow quite quickly organically.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

And then we start monetizing through selling them our suppliers from the platform.

SaaS Interviews with CEOs, Startups, Founders
1021 How He Solved Translation Marketplace Space and Grew 7x YoY to $24m in Revenue

I got it.