SaaS Interviews with CEOs, Startups, Founders
815: SaaS: He's Replacing the iClicker Growing From $800k ARR to $1.5m ARR in 6 months
17 Oct 2017
Chapter 1: What is the main topic discussed in this episode?
Founder launched the company back of Mentimeter back in 2003, did about 300K in an angel round in 2004 to start seeding the growth of the company.
Chapter 2: How did Johnny Warström start Mentimeter?
Today, over 6,000 paying customers doing about 1.5 million in monthly recurring revenue. Finished out 2016 at 800 grand in AR and targeting 2.3 million by the end of 2017.
Chapter 3: What unique features does Mentimeter offer for presentations?
That is almost three X year over year growth. Pretty incredible.
Chapter 4: What is Mentimeter's business model and customer base?
A team of 16 all based in Stockholm with super healthy unit economics trying to figure out paid spend so they can determine the best ways to scale.
Chapter 5: What growth milestones has Mentimeter achieved recently?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per top. Five and six million. He is hell bent on global domination.
Chapter 6: How does Mentimeter plan to scale its customer engagement?
We just broke our 100,000 unit sold mark. And I'm your host, Nathan Latka. Many of you listening right now don't have time to listen to every B2B SaaS CEO that I've interviewed. If you want to get access to the database I've created with year-over-year growth rates, customer accounts, margins, and many, many other data metrics and data points, you can go to getlatka.com. Here's the thing, though.
This database...
Chapter 7: What strategies does Mentimeter use for customer acquisition?
I keep it to myself. It's so freaking valuable. And to preserve the quality of the data and make sure that the people that have access to it have a true advantage, I'm only letting 10 companies on each month.
Chapter 8: What are the key metrics of Mentimeter's financial performance?
So we're full this month, but you can go to getlatka.com to get on the waiting list for next month. And look, there's big people on the waiting list. I mean, the biggest VCs you've ever heard of, you've probably heard of them. They're big, private equity, billions and billions under management. So it's an impressive waiting list. Go get on now at getlatka.com. Hello, everyone.
My guest today is Johnny Warstrom. He is the CEO and founder of a company called Mentimeter, which we'll dive into today. But his background, he's an engineer from the Royal Institute of Technology in Stockholm. He's worked in 10 countries and visited over 60. He loves adventures, and next summer will be his biggest one yet. He's getting married while growing the company.
Johnny, are you ready to take us to the top? Yeah, definitely. What's going to be tougher, marriage or startup life? What's harder?
Well, I hope marriage is going to be super simple. At least so far, so good. Good. Dating her has been amazing.
That's amazing. Okay, tell us about Mentimeter. What's it doing with your business model?
Yeah so Mentimeter was founded on me and three friends just out of university having our first jobs and founding a business meeting being dead boring so just sitting there and hoping to die so we built Mentimeter which is an interactive presentation tool you can say it's a super simple way for presenters to engage their audience so audiences just pick up their phone
and vote, participate, ask questions, whatever that needed for that meeting or presentation.
Okay, so should we think about this like Prezzo kind of or something like that or Prezi?
Exactly. They talk about interactive presentation, but what you actually do with Mentimeter is that you connect the audience's phones in their pocket with the presentation. So you can actually vote and participate.
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