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Patrik Fagerlund. He\\u2019s been working with mobile internet since the 90s. He\\u2019s an engineer by training and now, he\\u2019s the CEO and founder of Widespace, a mobile adtech company. Outside of work, he loves spending time with his family with his four kids and his wife along with many activities and sports.

Famous Five:

• Favorite Book? \\u2013 Business Insider
• What CEO do you follow? \\u2013 Elon Musk
• Favorite online tool? \\u2014 Slack and Flatly
• 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 \\u201cBe what you want to be\\u201d

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Time Stamped Show Notes:

• 02:00 \\u2013 Nathan introduces Patrik to the show
• 02:36 \\u2013 Widespace is a mobile advertising campaign
  • 02:40 \\u2013 It was spun out in 2007 from what Patrik thought was a great media channel
• 03:04 \\u2013 Patrik sold media fueled by their technology
  • 03:10 \\u2013 Selling media per CPM which is $10 per impression
  • 03:31 \\u2013 This was the business model in 2009
• 04:00 \\u2013 $2M was the total ad spend for the previous model and 40% went to the company
  • 04:26 \\u2013 Team size was 9
• 04:38 \\u2013 Widespace\'s current business model spent $30M for ads
• 04:40 \\u2013 Team size is 130
• 04:41 \\u2013 \\u201cWe\\u2019re moving into selling technology at a rapid space\\u201d
• 04:49 \\u2013 Widespace extends their tools and technology for both the supply and demand
• 05:09 \\u2013 Widespace focuses more on selling their technology
• 05:28 \\u2013 The model is close to SaaS, but the pricing depends on the volume and usage
• 06:11 \\u2013 Of the top 50 global advertisers, Widespace serves 70% of them
  • 06:24 \\u2013 Widespace works with most of the umbrella agency companies in the world
• 06:51 \\u2013 The tech of Widespace is a full-stack offering
  • 07:01 \\u2013 The algorithm is based on interests
  • 07:18 \\u2013 If Widespace goes against other legacy technologies in adtech, Widespace will outperform them
• 07:46 \\u2013 A customer pays 50% of their ad spend to make use of Widespace\\u2019s technology
  • 07:54 \\u2013 It\\u2019s a volume game, the more a customer pays, the less Widespace charges
• 08:04 \\u2013 If a customer puts $20M into Widespace\\u2019s system, it will go down to below $10M
• 08:53 \\u2013 Average ARR is around $4M
• 09:06 \\u2013 Since Widespace is a full-stack, they service both demand and supply
• 09:11 \\u2013 There\\u2019s a cap on the demand side and a supply cap to serve the supply
  • 09:26 \\u2013 The suppliers are the top publishers in the world
• 09:45 \\u2013 Widespace takes a cut from the demand and supply side
• 09:56 \\u2013 Widespace charges on the extended version of the algorithm as well
• 10:11 \\u2013 Last year\\u2019s processed ad spend is shy of $40M
• 10:49 \\u2013 2016 total revenue is around $17M
• 11:04 \\u2013 Widespace was initially bootstrapped
• 11:16 \\u2013 Widespace has raised close to $30M
  • 11:33 \\u2013 Over the years, Widespace had propositions from strategics but they turned them down
• 12:08 \\u2013Widespace is currently working with 500 suppliers/publications
  • 12:17 \\u2013 Widespace keeps control of their supply and has deeper integration
• 13:07 \\u2013 A few years ago, Widespace was the only one who was servicing the publishers
• 13:40 \\u2013 Widespace doesn\\u2019t have any exclusivity
• 15:02 \\u2013 The Famous Five

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3 Key Points:

1. Adjust your technology depending on the needs of your target market.
2. Find the right partners with whom you can grow your business.
3. Be what you want to be!

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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