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Andy Swan. He\u2019s the founder of LikeFolio. The company uses social data to determine shifts in consumer behavior on Main Street before it becomes use for Wall Street. This is his third financial technology company. The second, MyTrade, was acquired by TD Ameritrade in 2007.

Famous Five:

• Favorite Book? \u2013 Think and Grow Rich
• What CEO do you follow? \u2013 Jeff Bezos
• Favorite online tool? \u2014 Gmail
• How many hours of sleep do you get?\u2014 6
• If you could let your 20-year old self, know one thing, what would it be? \u2013 \u201cA little bit more about patience\u201d

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Time Stamped Show Notes:

• 02:07 \u2013 Nathan introduces Andy to the show
• 02:37 \u2013 MyTrade was geared directly towards option traders and active stock traders
  • 02:50 \u2013 The technology allowed traders to copy someone\u2019s option trade which is very complicated
  • 03:09 \u2013 It was sold because it was useless without a brokerage backend
  • 03:48 \u2013 MyTrade had raised $500-600K and was sold just 3-4 months after the round
  • 04:19 \u2013 Andy thought they had a good partnership with Ameritrade and that there was no plan of acquisition
  • 05:06 \u2013 Andy stayed with Ameritrade for 3-4 years after the acquisition
  • 05:30 \u2013 After 4 years, Andy and his brother spun off and created their own company
• 06:09 \u2013 Andy developed LikeFolio\u2019s technology after leaving Ameritrade
• 06:26 \u2013 LikeFolio sells insights on consumer behavior to professional investors and companies
• 06:35 \u2013 LikeFolio has a partnership with Twitter where they take every tweet and analyze it
  • 06:54 \u2013 LikeFolio can map the trends in tweets and alert their clients about the shifts in behavior
• 07:40 \u2013 LikeFolio has different subscription plans
  • 07:47 \u2013 LikeFolio\u2019s on-demand plan is $2K a month
  • 07:56 \u2013 For extreme computing power and robust API, the plan costs $100-300K
• 08:11 \u2013 Most of the revenue is from the API plan
• 08:40 \u2013 LikeFolio On-Demand has just been launched
• 09:20 \u2013 Every contract of LikeFolio\u2019s is secure and LikeFolio isn\u2019t allowed to disclose anything
• 09:59 \u2013 Andy can\u2019t disclose the number of customers they have
• 11:18 \u2013 LikeFolio hasn\u2019t raised capital and Andy isn\u2019t planning on raising a round
  • 11:38 \u2013 \u201cI want to own it all\u201d
• 12:02 \u2013 Andy doesn\u2019t want other people to have a say in his company and wants to be the decision maker in everything
• 12:36 \u2013 Andy\u2019s first company was Daytrade which was sold to a private equity
  • 12:55 \u2013 It helped Andy to understand how to run a business in fintech
  • 13:13 \u2013 Andy didn\u2019t raise money for Daytrade
• 14:03 \u2013 Team size is five; one in Louisville and four in Argentina
• 14:36 \u2013 One of toughest things LikeFolio faces is determining a tweet with the word \u201cnever\u201d\u2014it negates anything else in that tweet
  • 15:01 \u2013 \u201cI could NEVER live without weightwatcher\u201d is missed by LikeFolio because it\u2019s a positive-negative sentiment
• 15:28 \u2013 LikeFolio takes a thousand tweets per month, per company so there will always be missed tweets
• 17:05 \u2013 The Famous Five

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3 Key Points:

1. With technology today, consumers\u2019 behavior can now be tracked on different online platforms\u2014this can help businesses provide the right product or service for you.
2. It\u2019s OK to be the only person responsible for your business; however, there\u2019s still a possibility that you may need help in the future.
3. Be patient!

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Resources Mentioned:

• Simplero \u2013 The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
• The Top Inbox \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
• Klipfolio \u2013 Track your business performance across all departments for FREE
• Hotjar \u2013 Nathan uses Hotjar to track what you\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
• Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books

Show Notes provided by Mallard Creatives