Our kind of peeps
The First Round Review published an interview with Zapier co-founder Wade Foster, which I recently stumbled upon. (Grab the link in The Industry Standard section below.)
I highlight it because Zapier is a unique animal in today’s crazy funding environment.
The company graduated from Y Combinator and then intensely focused on building product and revenue. In fact, while it has only raised ~$2.5M, it did $100M to $140M in revenue in 2020, per CB Insights revenue data.
And its current valuation sits at a not-too-shabby $4B.
Yes — the current zeitgeist is to raise money cuz it is plentiful, but Wade Foster and the Zapier team show it's not the only way.
It’s good to see this increasingly rare philosophy articulated.
BTW, my favorite quote from the article is below. :)
“In Zapier's case, the answer is no. The company is one of an elite group of startups, including Clearbit, CB Insights, Trello, and a handful of others, that, to date, have raised only one institutional round of funding.”
That's a solid crew to be a part of.
For those of you out there revenue-funding your company and working on making it an absolute behemoth, hats off to you.
BTW, if you like the sound of this and are a data/technology nerd, CB Insights is hiring in every function and currently has 60+ open positions.
Check 'em out here.
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