My $70M business almost went bankrupt
Apr 28, 2021 1:01 pm
In 2010 I started AppSumo to get amazing deals on the best software.
It started off as a small project, now we’re on pace to do $70M annual revenue.
But I almost gave up on it in 2014…
Wow, we packed a TON of nuggets into this video. Learn behind-the-scenes of how we pushed through to grow to $70M.
This podcast outlines Chegg’s early days. And it’s an EPIC underdog story.
They started as “Craigslist for colleges”. Then changed their name to Textbookflix to be “Netflix for college books”.
To get started they actually ordered the books directly from Amazon and shipped straight to the customers. No warehouse. No inventory.
Great reminder especially when starting out… focus on finding what the CUSTOMER actually wants (discounted textbooks, free returns). Then build the rest.
Align your business incentives with your customer’s success… and that’s where the magic happens.