• He raised $1.5M, hit $400K ARR in 9 months— & Had to Exit Early. Here’s the top 3 lessons he learned | Rob Palumbo, Co-Founder of Outpoint

  • Nov 14 2024
  • Length: 39 mins
  • Podcast

He raised $1.5M, hit $400K ARR in 9 months— & Had to Exit Early. Here’s the top 3 lessons he learned | Rob Palumbo, Co-Founder of Outpoint

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  • Summary

  • Rob founded Outpoint in 2020 to help marketers optimize their ad spend. He was a growth marketer and his founder a data scientist. He had team-market fit, a solid thesis, and paying customers. But when the recession hit and ad spend dropped, growth ground to a halt. Nothing he did could revitalize growth. Ultimately, he decreased expenses and exited. He was able to return some cash to investors, find a home for his team and keep the product going.

    You tend to hear about what happens to the best 1% of startups. Here’s what tends to happen to the other 99%.

    Keywords

    Outpoint, product market fit, startup journey, acquisition, growth marketing, venture capital, business strategy, lessons learned, entrepreneurship, market dynamics

    Why you should listen

    • Why a great team and thesis won’t always lead to success
    • How things out of your control can completely change your trajectory
    • Why you should build something that works in both up and down markets
    • How to find an acquisition when things aren’t going well.

    Timestamps:
    (00:00:00) Intro
    (00:01:13) The origin of Outpoint
    (00:04:40) Medium Mixed Modeling
    (00:10:12) Speaking to Customers When their Revenue is Declining
    (00:14:49) Outpoint's Runway in 2022
    (00:19:21) Hunting to be Acquired
    (00:26:07) Lessons Learned
    (00:28:53) Almost Finding Product Market Fit
    (00:30:23) Planning a Startup vs the Serendipity of Staring One
    (00:34:30) Closing Thoughts




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