A Product Market Fit Show | Startup Podcast for Founders

Andres Bilboa is one of the co-founders of Rappi, the highest-valued app of LATAM ($5B valuation). Now he runs an incubator called Makers and has invested in dozens of startups.  In this episode, he shares how Rappi started with no funding and no network. They added restaurants into their platform without permission and gave cash to couriers to buy meals. Demand was through the roof. But just as t...

Douglas has been in media and PR for over two decades. He’s the founder of Betakit Inc and has been running Betakit, Canada’s TechCrunch, for nearly 10 years. He understands what startups need to do to leverage PR, and how PR can help startups hire, fundraise and sell.   On this episode, we get tactical and go deep on exactly when it makes sense to use PR and how founders can get the most from it....

In this episode, I sit down with Nick Frosst, Co-Founder of Cohere, the $5.5B AI startup that’s targeting the enterprise landscape.  We go through the origin story of Cohere, the challenges of building foundational models, and why he believes large language models (LLMs) won’t lead to artificial general intelligence (AGI). We also explore the fierce competition in AI, what sets Cohere apart, and N...

Even if founders do everything right, they may still fail to find PMF. That's why even repeat founders have only 1.5% chance of building a unicorn. We talk about product-market fit constantly in this podcast. Hopefully, we learn from what others did and improve our chances of finding PMF. But there is only one way to guarantee that one day you will find product market fit. We explore that in...

Don co-founded Vena & was CEO for 8 years. Last month, Vena became a Centaur crossing $100M in ARR. Don & his team launched Vena in a crowded market, where everyone else was trying to replace excel. So they built a budgeting and planning (FP&A) solution that instead leveraged excel. As Don says, they "disrupted the disruptors". Don knew the problem, he knew the space, he knew...

It's the first time I see a candidate BS his way through interviews with multiple people, impress each one of them, and ultimately end up being a complete fraud. But the biggest learning wasn't that you should watch out for fraud-- it was that you shouldn't trust interviews nearly as much as you'd think. While fake candidates are rare, candidates who are 10x better at interview...

Ashutosh is one of those rare founders who founded not just one, but two unicorns. He worked at Google for 4 years, left and started Bloomreach, which was last valued at $2.2B.   Halfway through that journey, he left to do it all over again.  He started Eightfold AI which is the one we're talking about today. In 2021, he raised $220M from Softbank at a $2.1B valuation.  When he left Bloomreac...

Carta is the backbone of most venture-backed startups. They have access to specific information about every single round, not just what's reported in TechCrunch.  Today, Peter Walker, Carta's Head of Insights joins us to share the findings from Carta's Q2 reports. We go deep into data from pre-seed, seed and Series A rounds. We cover median valuations, time between rounds, graduatio...

Last quarter, Sanish raised a $50M Series D. His company has raised over $130M. They have enterprise customers across 14 countries including Dollar General, Aldo, and CircleK.  It all started because Sanish was working out of coffee shops. He wasn't looking for a startup idea. But after a few casual conversations with employees, he noticed several problems retail workers and managers faced. H...

Sean Ellis created THE test for PMF. He led growth teams at Dropbox, Eventbrite and LogMeIn, which sold for $4.3B. He coined the term Growth Hacking and wrote the best-selling book Hacking Growth.  Today we go deep and tactical with him. He takes us through how to use the Sean Ellis test to perfectly measure and understand product market fit. He takes us to case studies of things that he did at Lo...

Daniel's been building robots for 20 years. He's sold 100s of AI robots-as-a-service to Walmart, FedEx, & DHL amongst others. Last month, he raised a $40M round. 6 years ago, he realized  why robots weren't getting massively adopted. Builders like him were trying to build perfect robots that always worked. But every situation has edge cases. What if you designed robots to work o...

Advice is free—actioning bad advice isn't. Early-stage founders are bombarded with advice. A lot of it from investors who have never operated a business, never ran marketing, never led sales. And yet, many founders take VCs' advice as sacrosanct. And many VCs feel like they can and should opine on everything. If many people treat you like an expert, you must be one... right? VCs have a l...

Alex got the co-founder of a public company to join him and raised $6M out of the gate—but it took him 3 years to make his first sale.  But after he shifted from selling to SMBs to selling to MSPs (Managed Service Providers i.e., outsourced IT), things took off: April 2015 - $1K MRR August 2015 - $10K MRR June 2016 - $100K MRR Nov 2018 - $1M MRR ($12M ARR) And growth never stopped—soon, he'll...

When an employee unexpectedly quits, an investor backs out, or a big customer churns— fear of failure takes over. When you close a new round, land a big customer, or make a big hire— you feel pure excitement.  Every founder is on a fear-excitement spectrum. There's no way to prevent yourself from feeling the two extremes. But I've seen great founders use several tactics to help themselve...

Pierce launched a consulting business that grew to millions in revenue and dozens of employees. But he noticed his customers kept asking for the same solution.  So he launched Knak, an email marketing and landing page builder that integrates to Marketo. Unlike most founders, he didn’t go all-in. He kept working on his consulting business full-time until Knak hit $1M in ARR.  After he transitioned...

There is no better storyteller in the world than Matthew Dicks. He tells stories for a living. He gets paid by the world's biggest brands to create stories for them. He's won Moth StorySLAM (a storytelling competition in NYC) a record 59 times.  Every founder knows storytelling is a critical skill. But 99% of founders I meet are terrible storytellers. They overcomplicate, they include to...

5 years ago, Shubham had just graduated college and had no network. He bootstrapped to $3M in ARR, then raised $200M & grew to $85M ARR. But he started trying to sell AI for marketing to enterprises with no network. So for 2 months, he'd go to the lobby of a bank and sit there for an hour. He'd wait for the CMO to walk by, just so he could say hi. He'd tell receptionists he was...

Google is in talks to buy cybersecurity startup Wiz for $23B (a 40x revenue multiple). Wiz is the company that in 2021 announced it grew from $0 to $100M ARR in just 18 months. How did this cybersecurity company grow so fast in a crowded space? How does it get a 40x revenue multiple when FAANG stocks trade at 5-15x? Who are the exceptional founders that were able to create the largest venture-back...

Paul built a startup that was acquired for $2.2B. He worked on AI at Uber and Oculus. But when a farmer told him about some of the problems he was facing, he quit and went all-in on farming.  He built a robot that attaches to the back of tractors, uses computer vision to identify weeds and lasers to shoot and kill them. He sells each robot for $1.5M. He's sold nearly 100 so far— & generat...

Elon Musk single-handedly took on the entire automotive industry. No one, including me, thought he would succeed. But he's built an $800B company. Whether sales are slowing down misses the mark: the punchline is it took well capitalized, professional automakers 15 years to catch up to a single founder.  Sure, Elon Musk is special. But this goes beyond just Elon Musk. It shows that founders to...

Last month, Ashby raised a $30M Series C. Ashby is used by customers like Notion, Ramp and Sequoia. Benji built Ashby as an end-to-end Applicant Tracking System (ATS) that would replace several point solutions. He had to build heads down for 18 months and couldn't launch a simple MVP. Surprisingly, even though he raised $3.5M at seed, he didn't grow his team. He built the product with ju...

AI startups don’t necessarily have to beat incumbents. Some will start entirely new markets instead.  Like Canva to Photoshop, Shopify to Amazon or Pickleball to Tennis, many of these won’t even have to compete. They create 10x easier to use products and through that open up an entirely new space. They solve problems people didn’t even know they had. In many cases they expand the market for incumb...

"I was technically homeless at the time. I was sleeping on my buddy's couch. I had declined $250,000/ year at McKinsey... I had no idea what I was doing." Now, Blake has $150M in ARR, growing 30% per year, with 80% gross margins. He's raised $400M and his startup ID.me is worth over $1B. This is the story of how pivoted for a Groupon-like model to an identity verification platf...

Every startup needs to compete with incumbents. But it's different with AI. AI startups need to create websites or apps from scratch and drive traffic. Incumbents can just add AI as a feature. They have distribution built in. AI is not like previous tech revolutions. Unlike mobile, the internet, or the PC revolution, AI is not a new distribution channel. Startups are at a much bigger disadvan...

Andrew spoke with 120+ VCs to raise a $1.5M pre-seed round. He closed $2.7M and had demand for many millions more. He devoted 90% of his time to fundraising, but only took weeks from the first meetings to close.  99% of founders I meet do not fundraise at this level. It takes them longer to close, they have fewer choices and raise less.  This is a specific, detailed and tactical guide to closing a...