“Dumbest idea I’ve heard” to $100M ARR: Inside the rise of Gamma | Grant Lee (CEO)

Grant Lee is the co-founder of Gamma, the AI-powered presentation tool that’s one of the hottest and most interesting AI startups in the world right now. They’re valued at over $2 billion, and they hit $100 million ARR in just over two years, with a lean team of just around 30 people. Unlike many fast-growing AI startups, Gamma has been profitable for most of its history, has not raised significant funding, and they built a massive business in a category most investors dismissed. In fact, one investor told Grant his idea was “the dumbest idea he had ever heard.”We discuss:• How Gamma found product-market fit by rethinking their onboarding• Their process for building a “word-of-mouth machine”• How they leveraged more than 1,000 micro-influencers instead of big names• Why focusing on the “first 30 seconds” transformed their business• Their approach to pricing that led to profitability within months• How Grant thinks about building a durable “GPT wrapper” business—Brought to you by:Vanta—Automate compliance. Simplify security.Justworks—The all-in-one HR solution for managing your small business with confidenceMiro—A collaborative visual platform where your best work comes to life—Where to find Grant Lee:• X: https://x.com/thisisgrantlee• LinkedIn: https://www.linkedin.com/in/grantslee—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Grant Lee and Gamma(05:59) The founding story of Gamma(09:52) Achieving product-market fit(15:43) Self-awareness as a founder(17:17) The power of onboarding(20:41) The original insight that led to Gamma(22:42) Founder-led marketing and growth tactics(29:20) Sharing online(37:40) Getting to $100M ARR(41:19) Influencer marketing as a growth strategy(54:08) Virality is not an accident(58:30) Investing in brand before paid ads(01:02:04) Tips for getting started with performance marketing(01:04:49) Prototyping and user feedback(01:16:12) Adapting and moving quickly(01:19:21) The concept of GPT wrapper companies(01:22:16) Deep dive into workflow and model utilization(01:29:06) Pricing strategies(01:34:53) Hiring philosophy and practices(01:43:24) Betting big on high performers(01:45:03) Final thoughts and lightning round—References: https://www.lennysnewsletter.com/p/how-50-people-built-a-profitable-ai-unicorn—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com

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