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5/ Moving from CTO-led -> VPE-led dev team. Most of us hire a VP of Engineering to take over from our CTO because we see the CTO is getting burnt out, or has trouble building a dev team > 8-9 folks, or gets disinterested in solving technical debt, bugs, etc. Field vs. mid-market vs SMB early. More here.
Co-founder and CTO Dharmesh Shah shared with us how they got there — and the top mistakes they made — just 3 quarters after their IPO. You will fail if you: 1) try to build a suite of products out of the gate, 2) focus solely on SMBs, or 3) have an MBA. But of course, it wasn’t always quite that big!
Jason Lemkin: 50 reps in a new city that you’ve never met, and hired in 60 days when you’re in the low millions ARR. When we made the acquisition, I remember being in a meeting with our senior executives. About four months after we made the acquisition, we announced to the team we were changing the name.
Additionally, “leapfrog” candidates—those who come from a level below the C-suite, such as senior vice presidents—now make up roughly 5% of new chief execs. We also measure NPS, and we benchmark that across all acquisitions. Q: Based on your acquisition experience, are for-sale businesses focusing on the customer and NPS?
If you're generating something that's brand new, like a brand new category, nobody understands about it. In my past roles at ACORN, GitLab, whenever I started as a head of growth, one of the data points I will look into is what's the percentage of new users coming back the second day or coming back second month?
He says that there are three main reasons for this: The cost of customer acquisition has gone up. Investors should immediately engage with the CTO to assess their technical capabilities and potential, as great CTOs can demonstrate their exceptional skills quickly. The competition is more intense. Customers are more demanding.
As for Sam, prior to Loom, Sam spent over 4 years at Salesforce following their acquisition of Quip, a startup Salesforce acquired for $750M where Sam was also the 1st sales leader. How does this change when selling to SMBs vs enterprise? * Bret was formerly the CTO at Facebook. How should the success of marketing be measured?
Is your title CTO? Dharmesh: Yes, CTO. So doing that deal and bringing these guys in, are there any interesting observations or any entertaining little stories about either pre-acquisition or post that had to do with Sam and The Hustle? HubSpot has not done a lot of acquisitions in the past. So this is Dharmesh.
Is your title CTO? Dharmesh: Yes, CTO. So doing that deal and bringing these guys in, are there any interesting observations or any entertaining little stories about either pre-acquisition or post that had to do with Sam and The Hustle? HubSpot has not done a lot of acquisitions in the past. So this is Dharmesh.
Martin Roth is the former CRO of Levelset, where he led the company from its first dollar in ARR to a $500 million acquisition by Procore in 2021. 35:30) Optimal team structures for SMB sales organizations. (52:25) It’s in New York. 14:58) The evolution of Levelset’s sales motion and pricing strategy. (29:06)
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