Upgrade to Pro
— share decks privately, control downloads, hide ads and more …
Speaker Deck
Features
Speaker Deck
PRO
Sign in
Sign up for free
Search
Search
Chris Savage - Buying Out Your Own Company
Search
Turing Fest
PRO
July 05, 2023
Technology
0
83
Chris Savage - Buying Out Your Own Company
Turing Fest
PRO
July 05, 2023
Tweet
Share
More Decks by Turing Fest
See All by Turing Fest
Andy Budd: The Growth Equation: 7 Essential Steps to Finding Product Market Fit
turingfest
PRO
0
6
Andrey Vinitsky: Babe Are You OK? You've Barely Touched The Dashboard You Claimed Was Mission Critical
turingfest
PRO
0
8
Finbarr Taylor:From Scotland to Silicon Valley: Lessons Learned Raising $100m & Building a Global SaaS Business
turingfest
PRO
0
5
Megan Caywood: A Product Playbook to Building a Unicorn
turingfest
PRO
0
10
Jason Miller: Branding in the Age of AI
turingfest
PRO
0
5
Petra Wille: Lessons on Storytelling for Product Builders
turingfest
PRO
0
13
Meri Williams: Career Vectors: Navigating Modern Careers
turingfest
PRO
0
3
Todd Olson: How AI Supercharges Product-led Growth
turingfest
PRO
0
3
Rand Fishkin: Zero-Click Marketing
turingfest
PRO
0
13
Other Decks in Technology
See All in Technology
公共領域から学ぶ クラウド移行についてエンジニアが意識していること
kawakawa2222
0
140
Azure AI ことはじめ
tsubakimoto_s
0
130
AWSサービスメニュー開発をしていてAWSを好きだ!と感じた瞬間
toru_kubota
0
130
データベース研修 分析向けSQL入門【MIXI 24新卒技術研修】
mixi_engineers
PRO
0
110
【基調講演】変える、今ここから ― IoTとAIで紡ぐ未来
soracom
PRO
0
320
ソフトウェアエンジニアリングの知見を活かして データ基盤をいい感じにする on Snowflake [MIERUNE BBQ #10]
mtpooh
2
150
AOAI Dev Day - Opening Session
yoshidashingo
2
440
初中級者用如何使用backlog -VALE TUDOEDITION-
in0u
0
140
可視化プラットフォームGrafanaの基本と活用方法の全て
hamadakoji
0
230
スタートアップにおける組織設計とスクラムの長期戦略 / Scrum Fest Kanazawa 2024
yoshikiiida
13
3.6k
年間一億円削減した時系列データベースのアーキテクチャ改善~不確実性の高いプロジェクトへの挑戦~
lycorptech_jp
PRO
3
2.9k
エンジニア向け会社紹介資料
caddi_eng
14
220k
Featured
See All Featured
Easily Structure & Communicate Ideas using Wireframe
afnizarnur
189
16k
Optimising Largest Contentful Paint
csswizardry
18
2.6k
Building Better People: How to give real-time feedback that sticks.
wjessup
357
18k
What the flash - Photography Introduction
edds
65
11k
How STYLIGHT went responsive
nonsquared
93
5k
It's Worth the Effort
3n
181
27k
Understanding Cognitive Biases in Performance Measurement
bluesmoon
18
1.2k
Fantastic passwords and where to find them - at NoRuKo
philnash
42
2.7k
Being A Developer After 40
akosma
72
580k
GitHub's CSS Performance
jonrohan
1026
450k
The World Runs on Bad Software
bkeepers
PRO
63
11k
The Illustrated Children's Guide to Kubernetes
chrisshort
39
47k
Transcript
SUBTITLE, NAME, ETC Buying Out Your Own Company https://linktr.ee/savagethoughts
Hello! 👋 I’m Chris Savage CEO & Founder at Wistia
https://linktr.ee/savagethoughts
Hi, we’re
SUBTITLE, NAME, ETC In 2017, we raised $17.3M in debt
to do a leveraged buyout of our own company
SUBTITLE, NAME, ETC How did we get here? And what
happened next?
SUBTITLE, NAME, ETC How did we get here? 🪚
SUBTITLE, NAME, ETC Started bootstrapped Started in 2006
SUBTITLE, NAME, ETC 2010 Raised $1.4M in Angel Money
SUBTITLE, NAME, ETC We focused on getting profitable Once that
happened we started focusing on long term stuff
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC We hit $10M in Revenue with $3M
in EBITDA
SUBTITLE, NAME, ETC We started running at a loss 💸
SUBTITLE, NAME, ETC Looked pretty good from the outside
SUBTITLE, NAME, ETC Looked pretty rough on the inside
SUBTITLE, NAME, ETC “We talk a lot about short- term
revenue now. Watching revenue and reacting to it is good. Basing all our work around its near-term movement is bad.” - VP of Engineering
SUBTITLE, NAME, ETC Missing a forecast ⛈
SUBTITLE, NAME, ETC Missing a forecast ⛈ -150K -75K 0K
75K 150K 225K 300K January February March April
SUBTITLE, NAME, ETC Where are we now? 10 years in
$17M in ARR -$4M in EBITDA 82 Employees
SUBTITLE, NAME, ETC Three offers to sell 💰
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC What do we do now? 🤨
SUBTITLE, NAME, ETC The Buyback 👔
SUBTITLE, NAME, ETC We did a tender offer 💸
SUBTITLE, NAME, ETC What happened next? 🐎
SUBTITLE, NAME, ETC The re-alignment began 🛠
SUBTITLE, NAME, ETC We introduced profit sharing 🍰
SUBTITLE, NAME, ETC Painful reality 😰
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC 1:1s with everyone 🗺
SUBTITLE, NAME, ETC Positive changes 🚀
SUBTITLE, NAME, ETC Culture coming back
SUBTITLE, NAME, ETC Retreats
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC Growth 📈 Revenue growth rate increased Gross
margins improved by 4% $10M swing in EBITDA in one year
SUBTITLE, NAME, ETC We were aligned, creative, and energetic 🔋
SUBTITLE, NAME, ETC Hiring was easier ✅ Everyone business focused
✅ People believed in independence ✅
SUBTITLE, NAME, ETC We underestimate the power of focus and
alignment
SUBTITLE, NAME, ETC A few of years of smooth sailing⛵
SUBTITLE, NAME, ETC COVID 🦠
SUBTITLE, NAME, ETC Our market became early stage again 🌅
SUBTITLE, NAME, ETC Our strategy was becoming unclear 🤷
SUBTITLE, NAME, ETC Video hosting and analytics for SMBs Our
Strategy ♟
SUBTITLE, NAME, ETC All-in-one video marketing platform for B2B mid-sized
businesses Our Strategy ♟
SUBTITLE, NAME, ETC Our Values ⚖
SUBTITLE, NAME, ETC Invest more 🤑
SUBTITLE, NAME, ETC Re-introduced Equity 🪙
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC
SUBTITLE, NAME, ETC It’s working 🏎
SUBTITLE, NAME, ETC Paid off our debt 💸
SUBTITLE, NAME, ETC What have I learned? 🧠
SUBTITLE, NAME, ETC Things take longer than you think We
underestimate focus When you make big changes, go for it
SUBTITLE, NAME, ETC Thank you! 🙏 https://linktr.ee/savagethoughts