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Built to Sell vs. Planning to Sell

January 21, 2022 |  

About this episode


David Darmanin co-founded Hotjar, a software company that helps website developers and owners understand how their users interact with the sites they build.

Darmanin and his partners bootstrapped Hotjar to around $40 million in Annual Recurring Revenue before selling it in 2021.

Grab your earbuds and something to take notes with because you’ll learn how to:

  • Leverage a beta group of testers to be profitable on day one of your launch.
  • Introduce fixed and variable rewards to drive word of mouth.
  • Divide up the equity with your co-founders that recognize where you sit on the risk-reward continuum.
  • Price your product, including the role of freemium, low-price, and premium-priced offerings.
  • Build to sell without planning to sell.
  • Optimize your marketing emails.
  • Decide when to sell.

You’ll also hear why building to sell is different than planning to sell and get plain, spoken definitions for “primary vs. secondary investment”, “reps and warranties” and a “blended LTV:CAC”.

Check out our full M&A Glossary

About Our Guest

David Darmanin

David is the Founder and Chairman of Hotjar. Before founding the company, he spent a decade generating hundreds of millions of dollars in growth consulting some of the web’s most sophisticated companies. Founded in 2014, Hotjar is a 100% distributed company with 170 team members across 33 countries and is used on over 900,000 sites worldwide.


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