SUBTITLE, NAME, ETCBuying Out Your Own Companyhttps://linktr.ee/savagethoughts
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Hello! 👋I’m Chris SavageCEO & Founder at Wistiahttps://linktr.ee/savagethoughts
Hi, we’re
SUBTITLE, NAME, ETCIn 2017, we raised $17.3Min debt to do a leveragedbuyout of our own company
SUBTITLE, NAME, ETCHow did we get here?And what happened next?
SUBTITLE, NAME, ETCHow did we get here? 🪚
SUBTITLE, NAME, ETCStarted bootstrappedStarted in 2006
SUBTITLE, NAME, ETC2010Raised $1.4M in Angel Money
SUBTITLE, NAME, ETCWe focused on getting profitableOnce that happened we startedfocusing on long term stuff
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETCWe hit $10M in Revenue with $3M in EBITDA
SUBTITLE, NAME, ETCWe started running at a loss 💸
SUBTITLE, NAME, ETCLooked pretty good from the outside
SUBTITLE, NAME, ETCLooked pretty rough on the inside
SUBTITLE, NAME, ETC“We talk a lot about short-term revenue now.Watching revenue and reacting to itis good. Basing all our work aroundits near-term movement is bad.”- VP of Engineering
SUBTITLE, NAME, ETCMissing a forecast ⛈
SUBTITLE, NAME, ETCMissing a forecast ⛈-150K-75K0K75K150K225K300KJanuary February March April
SUBTITLE, NAME, ETCWhere are we now?10 years in$17M in ARR-$4M in EBITDA82 Employees
SUBTITLE, NAME, ETCThree offers to sell 💰
SUBTITLE, NAME, ETCWhat do we do now? 🤨
SUBTITLE, NAME, ETCThe Buyback 👔
SUBTITLE, NAME, ETCWe did a tender offer 💸
SUBTITLE, NAME, ETCWhat happened next? 🐎
SUBTITLE, NAME, ETCThe re-alignment began 🛠
SUBTITLE, NAME, ETCWe introduced profit sharing 🍰
SUBTITLE, NAME, ETCPainful reality 😰
SUBTITLE, NAME, ETC1:1s with everyone 🗺
SUBTITLE, NAME, ETCPositive changes 🚀
SUBTITLE, NAME, ETCCulture coming back
SUBTITLE, NAME, ETCRetreats
SUBTITLE, NAME, ETCGrowth 📈Revenue growth rate increasedGross margins improved by 4%$10M swing in EBITDA in one year
SUBTITLE, NAME, ETCWe were aligned, creative, and energetic 🔋
SUBTITLE, NAME, ETCHiring was easier ✅Everyone business focused ✅People believed in independence ✅
SUBTITLE, NAME, ETCWe underestimate thepower of focus and alignment
SUBTITLE, NAME, ETCA few of years of smooth sailing⛵
SUBTITLE, NAME, ETCCOVID 🦠
SUBTITLE, NAME, ETCOur market became early stage again 🌅
SUBTITLE, NAME, ETCOur strategy was becoming unclear 🤷
SUBTITLE, NAME, ETCVideo hosting and analytics for SMBsOur Strategy ♟
SUBTITLE, NAME, ETCAll-in-one video marketing platform for B2Bmid-sized businessesOur Strategy ♟
SUBTITLE, NAME, ETCOur Values ⚖
SUBTITLE, NAME, ETCInvest more 🤑
SUBTITLE, NAME, ETCRe-introduced Equity 🪙
SUBTITLE, NAME, ETCIt’s working 🏎
SUBTITLE, NAME, ETCPaid off our debt 💸
SUBTITLE, NAME, ETCWhat have I learned? 🧠
SUBTITLE, NAME, ETCThings take longer than you thinkWe underestimate focusWhen you make big changes, go for it
SUBTITLE, NAME, ETCThank you! 🙏https://linktr.ee/savagethoughts
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