Ripple Recruiting Passes 8,000 Ivy League Resumes With 15 Employers Paying $300/mo For Access with Ripple CEO Andrew Myers

Andrew Myers

In Episode #578, Nathan interviews Andrew Myers. He grew up in Denver, Colorado and recently left Yale before the start of his senior year to pursue Ripple Recruiting, full-time. He now serves as a CEO in a fast growing, 12-person startup.

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Famous Five:

  • Favorite Book? – Anna Karenina
  • What CEO do you follow? – Kevin Ryan and Reid Hoffman
  • Favorite online tool? —PersistIQ and Slack
  • Do you get 8 hours of sleep?— No
  • If you could let your 20-year old self, know one thing, what would it be? – “Go for it”

Time Stamped Show Notes:

  • 01:34 – Nathan introduces Andrew to the show
  • 01:56 – Ripple Recruiting allows employers to create their dream applicant
  • 02:32 – The whole revenue model is based on the employers and Ripple Recruiting is subscription based
  • 02:43 – Ripple Recruiting is both a marketplace and a SaaS business model
  • 03:04 – Ripple Recruiting has three subscription packages
    • 03:15 – Average contract size is about $300 a month
  • 03:25 – Andrew shares the differences between the packages
  • 04:25 – Andrew won’t sell Ripple Recruiting at this time
  • 04:50 – Andrew and his partner are first time founders
  • 05:05 – Andrew and his partner both have strong opinions regarding their business
  • 05:40 – Ripple Recruiting was launched in 2015
  • 05:54 – First year revenue
  • 06:03 – Andrew’s focus is on user engagement, rather than revenue
  • 06:36 – Total debt Andrew has for Ripple Recruiting
  • 07:00 – Ripple Recruiting has raised in a seed round
    • 07:12 – Ripple Recruiting will be in a series A, soon
  • 07:24 – Ripple Recruiting has a syndicate
  • 08:11 – No revenue in 2015
  • 08:20 – Ripple Recruiting has 15 paying clients at the moment
  • 08:30 – Average MRR
  • 09:00 – Andrew shares the pitch to investors
    • 09:10 – Ripple Recruiting currently has over 10K Ivy League students signed up, on the platform
    • 10:36 – Ripple Recruiting’s valuation
  • 11:18 – Andrew wants to raise $2-3M is series A
  • 11:30 – Andrew wants the highest valuation possible
  • 12:11 – Andrew already has the strategies to build the syndicate
  • 13:05 – Andrew wouldn’t take a $13M deal
  • 13:58 – Andrew has just started focusing on revenue in terms of sales stream
  • 14:42 – The customers are paying for their access in Ripple Recruiting’s database
  • 15:52 – Andrew believes that they’re doing it better than other competitors in the space
  • 17:07 – Ripple Recruiting doesn’t have an official hire number yet
    • 17:23 – Andrew is seeing 20K students being hired on Ripple Recruiting
  • 17:30 – No churn yet
  • 18:58 – The whole Ripple Recruiting team ages between 22-25
  • 20:50 – The Famous Five

3 Key Points:

  1. Being new to business allows you to be more optimistic, but listening to those who have done it can definitely help.
  2. A good pitch can drive good investors.
  3. Start early – if you truly feel that you should do it, then NOW is the right time.

Resources Mentioned:

  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
  • Toptal– Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives