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Richard White

πŸ‘€ Speaker
269 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

So that was what was driving kind of our like, okay, we have to launch at this point, if you will.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

forcing function when was your first dollar of revenue was it within a month of launch or later a year thing happens in august for us so a year later we got our first drop of revenue and frankly if i had been up to me it probably would have been two years we actually really wanted to focus more on just the free user experience and referral loops and stuff like that we had been doing a funny thing where like we actually raised about 30 million to date we didn't really ever talk about the first 10 million we raised we raised during 2020 and 2021 it was like a very heady time where it was very easy to raise and we were raising money every six months we never had more than 12 months of runway for the first two three years of the company so

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

No, at that point, we'd only raise probably about $3 or $4.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

So we're raising basically $2, $2.5 a year to fund this, if you will.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

2023, so, you know, we kind of put some of our growth projects on hold.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

We said, you know, early 2022, we got to figure out this.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

We always knew how we'd want to monetize with like a team product, not by charging individuals.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

We said, great, we got to go run at this.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

About a year before that, I had hired three of my best salespeople from UserVoice.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

And I said, I've got nothing for you to sell today, but one day I will.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

I mean, I want you to join now and I want you to become an expert in the product and get to know our customers and just, you know, kind of be a customer success person.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

And then one day I'm going to tell you like,

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

all right it's time to sell and you're gonna hit the ground running and like i said at least in this moment it was like okay it's time to sell and they're like what are we selling i was like well here's the 10 features we're gonna sell and they're like how many of those exist today i was like one of them and so we literally built out a pitch deck and we're like cool we're selling kind of the roadmap here right and so literally we have this product called team you know fathom for teams and you know it was a pitch deck for the most part and thankfully you know we had so many users and they've been using us completely for free there's so much goodwill there that a lot of people are like look i don't know if you ever built these features but we love the product so much we won't stick around we will how many are

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

Yeah.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

Yeah.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

Yeah.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

Like in the thousands.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

And so, so yeah, so we kind of ran it then.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

And so in the first month we got to a hundred K and MRR.

SaaS Interviews with CEOs, Startups, Founders
He Lost $50/User to Build a $30M ARR AI Empire (Fathom)

Yeah.