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Patrick Campbell

๐Ÿ‘ค Speaker
752 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

But then it was like, we had to make a decision as a bootstrap company.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

Do we just want to hoard the equity amongst the exec team, basically?

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

That's what a lot of bootstrap companies do.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

And we always had intentions of growing and being a large company.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

So it was a little easier because we were like, no, we need people who are going to be here eight, nine years, that type of a thing to come with us.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

And so, but yeah, founder vesting, and then also just setting expectations early on.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

And the MVP, to get back to your question, was

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

this little software product that basically you would send a survey through the link that was produced through the software.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

And then you could answer or someone could answer these pricing questions.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

We pulled the data in and then basically the algorithm would crunch the data and give you this like willingness to pay information.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

So it was supposed to help product people with like pricing their products.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

We very quickly learned that like,

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

pricing, there's a trust gap.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

There's a lot of products out there that have trust gaps where it's like, you can give them the tools to do the thing, but at the end of the day, they're like, can someone just do this for me and help me understand what I should do?

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

You'd have some of the smartest, some of our earliest customers, they're public companies and they would be some of the smartest people.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

I give them any other problem, any other problem, even if they don't have the skills to do it.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

I give an HR person an engineering problem, they'll go try to figure it out.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

Pricing, everyone gets uncomfortable and

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

you know, like they just started like, Oh, we'll figure it out next quarter.

SaaS Interviews with CEOs, Startups, Founders
Details of $20m Revenue Profitwell and $55m Revenue Paddle Deal and what led to the $200m Acquisition

And then you go five years without changing, changing prices.