19 min listen
EP 413: SaaS, $242k MRR, $13 Million Raised to Re-Invent Business Email with Mathilde Collin of FrontApp
EP 413: SaaS, $242k MRR, $13 Million Raised to Re-Invent Business Email with Mathilde Collin of FrontApp
ratings:
Length:
25 minutes
Released:
Sep 10, 2016
Format:
Podcast episode
Description
Mathilde Collin, CEO and co-founder of Front. Her app has developed email and inbox features meant specifically for teams. Growing up in France, Mathilde realized that being an adult wasn’t fun—that getting a job usually meant a life of misery. She would not settle for that. She knew from the beginning that she had to create a job that she loved, and so Front was born. Famous Five: Favorite Book? - The Hard Thing About Hard Things What CEO do you follow? — Patrick Collison Favorite online tool? — Front! and Slack. Do you get 8 hours of sleep? — Yes. If you could let your 20 year old self know one thing, what would it be? – We can be happy at work. Get a job you love. Time Stamped Show Notes: 01:40 – Nathan introduces Mathilde Collin 02:00 – Front App is an inbox for teams. 02:25 – A SaaS company founded in 2014 02:50 – She started the business when she was 22. 03:05 – She realized a lot of people didn’t like their job, and she wanted to solve that issue for herself. 03:35 – 2015 revenue was $1 million 04:00 – 1210 companies use Front 04:20 – A large variety of company sizes 04:50 – Why they raised millions in capital. 05:25 – Email is complicated, so you need to invest in resources and good engineering. 05:45 – She already had a loan from studying in France. 06:15 – They raised with key people who could help. 06:37 – They wanted to invest in hiring super qualified people. 07:05 – Team of 21 in San Francisco 07:15 – Monthly expenses are about $200k 07:50 – How did you get over the psychological barrier of that red line? 08:20 – Spending money when you have money. 08:35 – A more rational spending plan. 09:05 – She will keep that money in the bank. 09:45 – That extra money has allowed for growth. 10:20 – She has people under her responsibility. 10:55 – She has one cofounder. 11:05 – How they determined equity. 11:15 – An even split for people who will be there for the whole life of the company. 12:05 – They have no marketing team. 12:25 – She publishes content at blog.frontapp.com and @CollinMathilde on Medium and Twitter. 13:10 – Customer lifetime value: Customer churn is 3% 13:35 – Revenue churn is negative. 13:45 – They sell three plans. 14:10 – Selling the upsell versions to new teams in the same companies 15:00 – An inbound sales team 15:15 – Monthly and annual plans 15:35 – Lifetime value is about 33 months, or $6300 16:15 – Valuation was not disclosed 16:45 – Her goal is to make as many people possible happy at this company. 17:20 – They will try to go public eventually. 17:40 – They want to keep their product as it is, which would be difficult if it were acquired. 18:15 – Why customers churn 18:25 – They dislike how often changes happen. 19:05 – They grow 10% each month 19:30 – They would like to hit $300k this year. 19:45 – Connect with Mathilde on Twitter at @CollinMathilde 21:30 – The Famous Five 3 Key Points: Get a job that you love. Starting a business is hard—all entrepreneurs go through challenges. In the early stages of your company, keep perfecting your product. Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Toptal – Great for business people to start building their app blog.frontapp.com and @CollinMathilde on Medium and Twitter – Follow Mathilde and her company! The Hard Thing About Hard Things – The business book that completely changed Mathilde’s outlook on her business. Slack – The tool that Mathilde and her team use a ton at Front Show Notes provided by Mallard Creatives
Released:
Sep 10, 2016
Format:
Podcast episode
Titles in the series (100)
EP 84: How to Spend $.05 Per Click and Make $2 On that Same Click with Bazi Hassan: Nathan Latka brings you top entrepreneurs daily inspired by Tim Ferriss, Pat Flynn, John Dumas, Entrepreneur on Fire, Chalene Johnson, NPR, HBR, the StartUp podcast, Art of Charm, Dave Ramsey, Planet Money, APM Marketplace, Mixergy, Seth Godin, #AskGaryVe by SaaS Interviews with CEOs, Startups, Founders