Patrick Campbell: why ProfitWell sold to Paddle for $200M

Patrick Campbell just sold his startup, ProfitWell, to Paddle for $200 million.Highlights (go straight to 🔥 for the best stuff):0:00 – "My problem is I'm always curious if other people are living a better dream than me."1:30 – The major downside to bootstrapping is the lack of network2:20 – Selling ProfitWell to Paddle, and integrating the two teams.4:15 – How ProfitWell got started (2012)6:00 – Initially three co-founders (Crunchbase)7:20 – Patrick's background (what he did before ProfitWell)10:10 – What did bootstrapping ProfitWell look like? (How much did each founder invest?)14:15 – Do you want to be a lifestyle company or a "big ass company?" 🔥15:55 – What salary did Patrick pay himself? (Tweet) 🔥18:25 – Differences between Patrick (ProfitWell) and Josh Pigford (Baremetrics) 🔥21:45 – Should bootstrapped companies go freemium and try to "win the market?" 🔥26:40 – The characteristics of your market determine most of your outcomes 🔥🔥29:24 – "Don't underestimate the velocity and size of your market." 🔥34:35 – What doe the average SaaS company spend on sales and marketing? 🔥37:39 – Pricing your SaaS discussion 🔥42:45 – Why competitors entering a new market can be better for your company. 🔥47:10 – Should bootstrapped companies try to "own the market?" 🔥52:10 – "We're in the second phase of SaaS: here's what's coming next." 🔥61:53 – Did ProfitWell employees have equity?What should we talk about next?Twitter: @buildyoursaas, @mijustin, @jonbuda, @jsonpearl, and @helenrylesEmail us: [email protected] Thanks to our monthly supporters Pascal from sharpen.page Rewardful.com Greg Park Mitchell Davis from RecruitKit.com.au Marcel Fahle, wearebold.af Bill Condo (@mavrck) Ward from MemberSpace.com Evandro Sasse Austin Loveless Michael Sitver Colin Gray Dave Giunta 🎙️ Podcast hosting is provided by Transistor.fm.📺 Learn how to start your own podcast! ★ Support this podcast on Patreon ★

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