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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

Like they were never like full time in the business, but I think that was like something that would have saved a lot of like, um, like a lot of calories and just a lot of frustration was like setting really clear expectations because we messed up like

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

the equity structure.

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

We basically were like, well, we're all co-founders.

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

Let's do thirds, right?

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

So these guys who are never a day in the business all of a sudden had a lot.

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 once someone has something, it's really hard to get it back.

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 thankfully, over time, they were really earnest on keeping things going.

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

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

They basically became, their stakes are more like angel investor stakes, if that makes sense.

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 everything got sort of recapped, but not in a true recap fashion.

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

But yeah, that was one thing that I would say is founder vesting, always do founder vesting.

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

Always, always, always, everyone should vest.

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

Um, I think like it will work if you don't do that, but I think that helps a lot.

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

Yeah, that's what we do.

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

We actually at ProfitWell, the one thing that we did is we did like backward bending vesting.

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 10, 20, 30, 40.

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

It's kind of like how Amazon used 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

So like you only get 10% of your shares, allocated shares when you get over that one year cliff.

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 most of your shares will come into the third and the fourth year.

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

We did 25, 25, 25, 25 vesting at first.