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Peter Friedman

๐Ÿ‘ค Speaker
268 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

800 out of 1,000 internet companies went out of business.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

Not us.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

Most were unprofitable.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

We basically survived, bootstrapped ourselves back up, did our core DNA of online dialogue and relationships, but pivoted how we did it repeatedly.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

We did a pipe in 2006 with WPP, the big marketing conglomerate, as a strategic partner.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

And then the whole world fell down in 2008 again.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

We haven't raised capital since.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

And we have a track record of cash flow positive from operations and profit.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

We built up a bunch of cash.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

The last few years, we've been losing money because we've been investing in the new software platform.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

Yeah, we went down to the pink sheets, then back up to the OTC, then back down to the pink sheets, but we're public.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

Around 10 million a year.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

Company runs around 10 million.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

It's about 60 people in the court group and a few hundred online agents who are all US-based and all employees, or virtually all.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

No, we're a virtual company.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

I mean, we are truly a virtual company that has complements of physical things, not a physical company that telecommutes.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

So almost everybody works from home.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

We have a small office in San Jose, California, where the CFO is, and people can go for meetings.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

We have an office here in New York that also doubles as a New York apartment, and the sales and marketing team, which is based in New York, comes here.

SaaS Interviews with CEOs, Startups, Founders
905 Went Public, $650m Market Cap, Crashed, Now $10m ARR But Only $1.8m Market Cap, Why?

We have a cluster in Austin, but by and large,