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EP 590 :Particle.io Raises $14M, Passes $5M In Revenue, Helping Usher in IoT Connecting Keurigs to Internet with CEO Zach Supalla

EP 590 :Particle.io Raises $14M, Passes $5M In Revenue, Helping Usher in IoT Connecting Keurigs to Internet with CEO Zach Supalla

FromSaaS Interviews with CEOs, Startups, Founders


EP 590 :Particle.io Raises $14M, Passes $5M In Revenue, Helping Usher in IoT Connecting Keurigs to Internet with CEO Zach Supalla

FromSaaS Interviews with CEOs, Startups, Founders

ratings:
Length:
25 minutes
Released:
Mar 6, 2017
Format:
Podcast episode

Description

Zach Supalla. He’s the CEO and co-founder of Particle, a venture backed startup that’s making it easier to build internet connected hardware and other things. Particle is the most, widely used IoT platform with a developed community of a hundred thousand users and is listed as one of Fast Company's Top 10 Most Innovative Companies in 2015, of the Internet of Things. Zach has been featured on CNN, The Wall street Journal, TechCrunch, Fast Company, Forbes, Fortune, Mashable and more. Famous Five: Favorite Book? – The Hard Thing About Hard Things What CEO do you follow? –  Jeff Lawson Favorite online tool? — Slack and Asana Do you get 8 hours of sleep?— No If you could let your 20-year old self, know one thing, what would it be? – “You don’t have to be an engineer to be an engineer”   Time Stamped Show Notes: 01:35 – Nathan introduces Zach to the show 02:16 – Zach used to be a management consultant 02:45 – While Zach was doing his MBA, he interned in Groupon’s sales operation 03:07 – Zach did engineering 03:21 – Particle is an IoT platform 03:44 – Particle helps manufacturers connect their physical product to the internet 04:11 – Particle does the whole communication stack between the physical device and web 04:40 – Particle has raised $10M 04:50 – Particle generates revenue in 4 ways 04:55 – Particle works with large companies and sells them subscriptions, data plans, hardware, and professional services 05:24 – Main revenue stream is from the hardware 05:54 – Hardware pricing ranges from $5-50 06:09 – For Keurig, they added hardware to plug into the back of the coffee maker 06:45 – The hardware volume for Keurig is in the thousands 07:00 – Particle has customers who will be deploying millions of hardware products by 2018 07:28 – Security is part of Particle’s story 07:37 – Zach shares about the webcam botnet incident 08:09 – The Mirai botnet in Liberia explained 08:32 – Zach shares how Particle works to secure everything from the device to the in between communication 08:50 – Typical, cheap webcams that are in the market and manufactured in China are not secure 09:23 – There are products that people aren’t unplugging and are considered unsecure 09:45 – Particle started in 2012 09:59 – Zach first launched a product in Kickstarter named Spark Socket 10:07 – The product was unsuccessful 10:21 – It was frustrating, but it turned to be a huge benefit 10:51 – Zach relaunched a new product in Kickstarter, in 2013, called Spark Core 11:20 – Zach was inspired by his dad who is deaf to create the first product 12:20 – Zach shares what is important in launching a Kickstarter campaign 12:28 – Zach looks at any Kickstarter campaign as an experiment 12:33 – Zach made sure that they nailed the marketing on their first launch 13:43 – “We’re definitely advocates of the lean startup mentality” 14:13 – 2013 revenue 14:41 – 2014 revenue 15:43 – Zach shares where the scale is coming from 15:58 – When Zach launched the product, they weren’t targeting enterprise stores 16:28 – Zach was originally creating development tools then shifted to management tools 16:43 – The growth started in selling deaf kits 17:00 – They started making modules, then the software platform 17:26 – One of the challenges a hardware startup faces is going from being a product to a company 17:56 – 2017 revenue goal 18:08 – Team size is 35 18:21 – Half of the team is from San Francisco and the other half are all over 18:50 – Particle is not facing a problem yet with their people who work in China 19:03 – Zach created a program while he was in China, where he lived for 4 months 19:22 – Zach has a deep trusting relationship with their people in China 21:14 – The Famous Five   3 Key Points: Solve your own problems and make the people around you, your inspiration. See the beauty in a failure – it can be a way for you to create something better. One of the most difficult challenges a hardware startup faces is going from being a product to a company.   Reso
Released:
Mar 6, 2017
Format:
Podcast episode

Titles in the series (100)

Over 10M founders, CEO's, and investors have downloaded this 15 minute daily podcast from Nathan Latka. Each day Latka interviews a software (SaaS) CEO and gets them to share how they've grown (or not) so fast all backed by hard data points. To date, over 1000 CEO's have been interviewed that together do over $6b in revenue, have raised over $5b, and employ more than 180,000 employees. The magazine for CEO's: http://nathanlatka.com/magazine The Book for CEO's: http://nathanlatka.com/bookamazon