SaaS Interviews with CEOs, Startups, Founders
How to Bet On Poker Players and Make Money with Scott Hansbury of YouStake EP 206
29 Mar 2016
Chapter 1: What is the main topic discussed in this episode?
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.
Chapter 2: What motivated Scott Hansbury to leave the corporate world?
I'm now at $20,000 per talk. Five and six million. He is hell-bent on global domination. We just broke our 100,000 unit soul mark.
Chapter 3: How did Scott achieve successful exits in his career?
And I'm your host, Nathan Latka.
Chapter 4: What is the concept of staking in the poker industry?
Okay, Top Tribe, this week's winner of the 100 bucks that I give away every Monday is Kim Dust. She's in the entertainment industry and is currently working a full-time day job and doing her side hustle on the side. Kim, congrats.
Chapter 5: How does YouStake facilitate betting on poker players?
For you guys' chance to win 100 bucks every Monday, simply subscribe to the podcast on iTunes now and then text the word Nathan to 33444 to officially enter. Again, text the word Nathan to 33444 after you've subscribed. Okay, Top Tribe, coming up tomorrow morning and every morning at 6 a.m. Eastern, you'll hear from Ezra Firestone. Really, it's crazy.
Chapter 6: What metrics are crucial for YouStake's success?
How does a male marketer do $1.5 million per month in women's cosmetics? Ezra tells you how. Okay, Top Tribe, good morning, good morning, good morning. Our guest this morning is Scott Hansberry, and he was an executive, he held an executive position at Sun Microsystems, along with IBM, Creek Path Systems, and High Ground Systems.
Chapter 7: Is staking on poker players a legal practice?
He's a startup bet with history, a really strong history, I might add, of leading early stage companies through growth stages. He's had the fortune of participating in multiple exits during his career. Scott, are you ready to take us to the top? Absolutely. Let's go. Let's do this. So first off, I'm excited.
Chapter 8: How does YouStake generate revenue from staking?
Why don't you first things first, tell us about... It sounds like a very cushy position at Sun Microsystems. When did you decide to throw in the towel and give up corporate for the startup world?
It was actually... not quite the decision that you would normally take to get from uh you know going from a corporate larger companies to the startup world mine actually was more family related um my dad and mom live in arizona i was working at sun in california and i got the dreaded call and my dad was quite sick so i actually resigned that day
moved to Arizona to take care of them and get into the startup world. That's what drew me to the startup world. And what year was that?
That was in 1998. Okay, 1998. So you said you've had many successful exits. How many have you had? And why don't you tell us about the one that you consider the most successful?
Okay, there's been a few. I think the very first one, I was working with a company called High Ground Systems in Boston. And I was commuting from Phoenix area to Boston for that, working in the corporate development area as a vice president of corporate development.
And that company was doing quite well, was starting to develop a technology that now today is pretty widespread known as virtualization. to help enterprises manage their storage systems. And we were able to build that up. We went through, you know, going into our mezzanine round of funding.
Can you describe what that means to the audience, Scott?
Yeah, yeah, sure. We had gone through an A round, a B round, a C round, so multiple rounds of funding. And we were looking at this as our kind of our final round and then actually looking at IPOing the company. But during that phase of fundraising and getting ready for an IPO, we were able to garner multiple offers to acquire the company.
And we ended up accepting an offer from Sun Microsystems for $400 million. And what was revenue? What have you grown revenue to before you sold? The revenue at that time was right around $15 million. Annually? Annually. And how much had you raised? probably about 25 to 30 million.
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