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COVID nearly bankrupted him. Then with AI he grew from $0 to $25M ARR in 4 years. | Andrew Lockhead, Founder of Stay22
MP3•Episodio en casa
Manage episode 417993993 series 3298391
Contenido proporcionado por Mistral.vc. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Mistral.vc o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.
His travel startup crashed 90% overnight. Here’s how he used AI to grow past $2M/year—to $2M a month:
For a while, Andrew was crushing it. Accelerator -> $750K pre-seed -> $2M ARR -> $2.5M seed round. Then COVID hit.
He was selling to events like CES, SXSW, etc. Revenue dropped from $160K/month to under $10K... overnight. Investors from his seed round refuse to wire funds.
After nearly going bankrupt, he finds a way to pivot. A year later, his business takes off.
He was selling to events like CES, SXSW, etc. Revenue dropped from $160K/month to under $10K... overnight. Investors from his seed round refuse to wire funds.
After nearly going bankrupt, he finds a way to pivot. A year later, his business takes off.
2020 - $0
2021 - $1M
2022 - $5M
2023 - $15M
Now - $24M.
2021 - $1M
2022 - $5M
2023 - $15M
Now - $24M.
Why you should listen:
- Andrew shares a technique to land early customers. He offered to PAY his customers to use the product.
- Learn how to deal with massive swings in revenue and unpredicted events. Early-stage founders are always one deal, one employee, one fundraise away from success... or failure.
- Learn why you "can never celebrate until the money is in the bank"
Timestamps:
(00:00:00) Intro
(00:01:16) The Start of Stay22
(00:07:15) The Seed Round
(00:11:53) Pivoting the go to Market
(00:19:38) Investors Pulling out Due to Covid
(00:26:56) Finding the Opportunity in the Pandemic
(00:31:31) Tapping into the Blogger Market
(00:37:31) Growing Back from Zero
(00:38:49) Finding True Product Market Fit
(00:39:35) One Piece of Advice
- Learn how to deal with massive swings in revenue and unpredicted events. Early-stage founders are always one deal, one employee, one fundraise away from success... or failure.
- Learn why you "can never celebrate until the money is in the bank"
Timestamps:
(00:00:00) Intro
(00:01:16) The Start of Stay22
(00:07:15) The Seed Round
(00:11:53) Pivoting the go to Market
(00:19:38) Investors Pulling out Due to Covid
(00:26:56) Finding the Opportunity in the Pandemic
(00:31:31) Tapping into the Blogger Market
(00:37:31) Growing Back from Zero
(00:38:49) Finding True Product Market Fit
(00:39:35) One Piece of Advice
Capíttulos
1. COVID nearly bankrupted him. Then with AI he grew from $0 to $25M ARR in 4 years. | Andrew Lockhead, Founder of Stay22 (00:00:00)
2. The Start of Stay22 (00:01:16)
3. The Seed Round (00:07:15)
4. Pivoting the go to market (00:11:53)
5. Investors Pulling out Due to Covid (00:19:38)
6. Finding the Opportunity in the Pandemic (00:26:56)
7. Tapping into the Blogger Market (00:31:31)
8. Growing Back from Zero (00:37:31)
9. Finding True Product Market Fit (00:38:49)
10. One Piece of Advice (00:39:35)
123 episodios
COVID nearly bankrupted him. Then with AI he grew from $0 to $25M ARR in 4 years. | Andrew Lockhead, Founder of Stay22
A Product Market Fit Show | Startups, Founders, & Entrepreneurship
MP3•Episodio en casa
Manage episode 417993993 series 3298391
Contenido proporcionado por Mistral.vc. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Mistral.vc o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.
His travel startup crashed 90% overnight. Here’s how he used AI to grow past $2M/year—to $2M a month:
For a while, Andrew was crushing it. Accelerator -> $750K pre-seed -> $2M ARR -> $2.5M seed round. Then COVID hit.
He was selling to events like CES, SXSW, etc. Revenue dropped from $160K/month to under $10K... overnight. Investors from his seed round refuse to wire funds.
After nearly going bankrupt, he finds a way to pivot. A year later, his business takes off.
He was selling to events like CES, SXSW, etc. Revenue dropped from $160K/month to under $10K... overnight. Investors from his seed round refuse to wire funds.
After nearly going bankrupt, he finds a way to pivot. A year later, his business takes off.
2020 - $0
2021 - $1M
2022 - $5M
2023 - $15M
Now - $24M.
2021 - $1M
2022 - $5M
2023 - $15M
Now - $24M.
Why you should listen:
- Andrew shares a technique to land early customers. He offered to PAY his customers to use the product.
- Learn how to deal with massive swings in revenue and unpredicted events. Early-stage founders are always one deal, one employee, one fundraise away from success... or failure.
- Learn why you "can never celebrate until the money is in the bank"
Timestamps:
(00:00:00) Intro
(00:01:16) The Start of Stay22
(00:07:15) The Seed Round
(00:11:53) Pivoting the go to Market
(00:19:38) Investors Pulling out Due to Covid
(00:26:56) Finding the Opportunity in the Pandemic
(00:31:31) Tapping into the Blogger Market
(00:37:31) Growing Back from Zero
(00:38:49) Finding True Product Market Fit
(00:39:35) One Piece of Advice
- Learn how to deal with massive swings in revenue and unpredicted events. Early-stage founders are always one deal, one employee, one fundraise away from success... or failure.
- Learn why you "can never celebrate until the money is in the bank"
Timestamps:
(00:00:00) Intro
(00:01:16) The Start of Stay22
(00:07:15) The Seed Round
(00:11:53) Pivoting the go to Market
(00:19:38) Investors Pulling out Due to Covid
(00:26:56) Finding the Opportunity in the Pandemic
(00:31:31) Tapping into the Blogger Market
(00:37:31) Growing Back from Zero
(00:38:49) Finding True Product Market Fit
(00:39:35) One Piece of Advice
Capíttulos
1. COVID nearly bankrupted him. Then with AI he grew from $0 to $25M ARR in 4 years. | Andrew Lockhead, Founder of Stay22 (00:00:00)
2. The Start of Stay22 (00:01:16)
3. The Seed Round (00:07:15)
4. Pivoting the go to market (00:11:53)
5. Investors Pulling out Due to Covid (00:19:38)
6. Finding the Opportunity in the Pandemic (00:26:56)
7. Tapping into the Blogger Market (00:31:31)
8. Growing Back from Zero (00:37:31)
9. Finding True Product Market Fit (00:38:49)
10. One Piece of Advice (00:39:35)
123 episodios
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