RapidAPI w/ 19 YO Founder Raises $3.5M, Helping You Connect to API’s Faster with CEO Iddo Gino

Iddo Gino

In Episode #628, Nathan interviews Iddo Gino. He’s the CEO and co-founder of RapidAPI which he founded when he was 16 years old. He’s listed on the Forbes 30 under 30 list and previously, he was the co-organizer at Hacking Gen Y. Originally from Israel, Iddo, currently resides in San Francisco, California where he runs RapidAPI and runs JavaScript projects on the side.

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Famous Five:

  • Favorite Book? – The Hard Thing About Hard Things
  • What CEO do you follow? – Stewart Butterfield
  • Favorite online tool? — GitHub
  • Do you get 8 hours of sleep?— 6-7
  • If you could let your 10-year old self, know one thing, what would it be? – I wish I knew what I didn’t know back then”

Time Stamped Show Notes:

  • 01:22 – Nathan introduces Iddo to the show
  • 01:57 – RapidAPI let developers find APIs online
  • 02:09 – RapidAPI has a marketplace model where developers can pay for the APIs
  • 02:16 – RapidAPI’s processing fee is from 10% – 25%
    • 02:30 – The fee depends on the API vendor
  • 02:46 – RapidAPI is like a point connection for developers to find APIs
  • 02:55 – Iddo was part of Hacking Gen Y
    • 03:09 – Iddo realized how APIs are powerful while he’s with Hacking Gen Y
  • 03:18 – Iddo created the first version of RapidAPI
  • 03:41 – Together with Iddo is his co-founder Mickey Haslavsky
  • 03:49 – Team size is 20
  • 03:58 – The engineering team is in Israel and marketing and sales teams are in San Francisco
  • 04:10 – Developers’ salaries in Israel
  • 04:34 – RapidAPI just announced their seed round in November
    • 04:44 – Total amount raised was $ 3.5M and an equity round
  • 05:00 – RapidAPI started as an open-source project
  • 05:40 – There are 148K apps or projects that have used Slack in RapidAPI
  • 05:54 – Slack is a free API and the service is free but there are paid APIs
  • 06:43 – Average MRR
  • 07:06 – The fee is charged from the API and not the consumer
  • 07:16 – Any consumer transaction in RapidAPI is free
  • 07:31 – One of the most popular paid API is Twilio
    • 07:54 – Twilio is also one of the largest and most popular API
  • 08:01 – If someone connects to Twilio API through RapidAPI, that’s when RapidAPI take the processing fee
  • 08:31 – “RapidAPI is all about neighboring developers to connect with APIs”
  • 08:40 – RapidAPI will soon open a facility for developers
  • 09:12 – Iddo volunteered for Hacking Gen Y and helped Hackathons
  • 09:21 – Iddo was working on creating apps and websites prior to RapidAPI
  • 09:36 – Iddo is currently 19 and his parents are just excited in what he does
  • 09:54 – Iddo still thinks of going back to college but enjoying RapidAPI’s success at the moment
  • 11:10 – The Famous Five

3 Key Points:

  1. APIs are powerful and having a one point connection is beneficial for the developers.
  2. In the process of helping people, you also learn from them.
  3. Being an entrepreneur at an early age opens you up to the opportunity to learn more.

Resources Mentioned:

  • 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
  • Organifi – The juice was Nathan’s life saver during his trip in Southeast Asia
  • Klipfolio – Track your business performance across all departments for FREE
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • 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
  • 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