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EP 402: 25 Years Old, $32 Million Raised, $11 Million 2015 Transaction Volume with Brian Wong of Kiip

EP 402: 25 Years Old, $32 Million Raised, $11 Million 2015 Transaction Volume with Brian Wong of Kiip

FromSaaS Interviews with CEOs, Startups, Founders


EP 402: 25 Years Old, $32 Million Raised, $11 Million 2015 Transaction Volume with Brian Wong of Kiip

FromSaaS Interviews with CEOs, Startups, Founders

ratings:
Length:
23 minutes
Released:
Aug 30, 2016
Format:
Podcast episode

Description

Brian Wong, who started his company Kiip after getting laid off. As his company has grown and matured, his cofounders have moved on. But Brian is incredible grateful for his company and believes in sticking to your decisions and putting your whole heart and soul into your business. Now Kiip is on track to make $20 million this year, so he must be doing something right.   Famous Five:   Favorite Book? – Predictably Irrational What CEO do you follow? — Evan Spiegel Favorite online tool? — Evernote Do you get 8 hours of sleep? — No. If you could let your 20 year old self know one thing, what would it be? — Stop taking everything so seriously. Everything is going to work out.   Time Stamped Show Notes: 01:20 – Nathan introduces Brian 01:50 – Kiip is embedded into apps, and it rewards you for achievements in those apps 02:45 – 50/50 revenue share with brands who provide the rewards 03:20 – The economics of partnering with a brand like Gatorade 04:00 – Customers must claim the award for either company to get money 05:00 – Why they use email to deliver the awards 05:38 – Brian’s journey to where he is now, at age 25 06:00 – He found himself in business development 06:55 – Laid off in 2010 07:00 – He met with a few venture capitalists, and a startup seemed like the right direction 08:00 – He and his two cofounders got started 08:30 – They started with $300k 09:30 – Total capital now is $32 million 09:45 – Last year’s revenue was $11 million 10:00 – Margins are increasing as they are becoming more efficient 10:40 – Reducing server costs, marketing costs, and creating different revenue streams 11:25 – They have a unique revenue model that brings in “new money” 12:35 – Engagement rate is 10% 13:10 – Both of Brian’s cofounders have left to do other things 13:45 – How Brian feels about his company’s growth 14:15 – “At the end of the day, it’s what your exit is.” 14:50 – He feels thankful for what he has with his company 15:15 – “Make your decision and don’t look back.” You can always dream about what could be better or different, but follow through and stay committed to what you have. 16:50 – Goal for 2016 is $20 million 17:00 – Hopes to grow the margin more 17:15 – Twitter @brian_wong and Snapchat at bwong91 19:20 – The Famous Five   3 Key Points: When you make a decision, completely commit to that decision. It does no good to daydream about what could be better or different. Channel that energy into improving what you have. Take advantage of an opportunity when it is put in front of you.   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. Evernote – Brian’s favorite online tool Show Notes provided by Mallard Creatives
Released:
Aug 30, 2016
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