Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Michael Mandel

๐Ÿ‘ค Speaker
166 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

We closed it.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

Although, you know, we, I think we probably closed out 2012 at, uh, $60,000 in annual revenue.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

Um, we, but we actually, that was from basically two customers.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

Um, we, at the very end of 2012, uh,

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

We closed, you know, Vornado and Tishman Spire, who are two of the largest landlords in the country or in the world.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

We managed to close them as our first two customers.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

So it was interesting.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

I mean, we weren't actively trying to generate revenue at that point, but we've gotten introductions and we ended up building our enterprise product to sell because we had interest and we're able to get those deals done.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

And it was an interesting experience because

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

It was probably too early to start selling because it was a data company.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

No, so I've got a co-founder who's our CTO.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

His name is Vadim, and he had been building trading systems and banking systems for banks.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

Um, it's a good question actually.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

So when I was starting the company, I needed, I knew I needed a co-founder and I, cause I had actually worked on starting something else in the past where I hired some outsource guy and it was a mess.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

And so I realized I was not going to start a tech company without a technical co-founder.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

So I, um, I actually was going to tech startup events in New York basically every night of the week.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

I'm trying to meet somebody and pitching people, everybody I could meet on the idea every night and trying to generate interest until eventually, actually, I had several people who were developers who had some interest in it.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

And then I was talking to people and just got to know people and effectively had like a dating period with my co-founder where we got to know each other and make sure we felt comfortable working together.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

We did split it down the middle.

SaaS Interviews with CEOs, Startups, Founders
961 How He Sells Commercial Real Estate Data to PE Firms for $5m+ in ARR

You know, I think I didn't intend for that to be the case.