506: I Ignored Investors and Built a $975M Company | Joe Thomas

The Foundr Podcast with Nathan Chan

An investor told Joe Thomas and his co-founders that they could exit to Salesforce for millions if they made their video recording software for sales teams. Thomas and his co-founder said no. Instead, they built Loom into a globally used tool with five million users in 230+ countries. In November of 2023, Atlassian acquired Loom for $975 million. Learn how Thomas trusted his gut and made Loom a must-have for the digital workforce.

In this episode, you’ll learn:

• The 8-year overnight success story of building Loom
• Loom’s key differentiator in the market
• How to not bury the lede of your product market fit
• Why early-stage founders need to maximize their learnings
• The value of a weekly Sunday dinner
• About making a product customers will like and pay for
• The product-led growth trap
• Why every 90 days are different as an entrepreneur
• How Thomas monetization Loom
• To create a max diff survey for product upselling
• Choosing the uncertain path
• And much more product development advice…

Who do you want to see next on the podcast? Comment and let us know! And don't forget to leave us a 5-star review if you loved this episode.

If you’re looking to start your own business, download our FREE 500 Winning Product Ideas Guide to kickstart your entrepreneurship dream.

Speak with our friendly course experts to get clarity on the next steps for your idea, business or career. You will get tailored insights from results achieved by our proven practitioners as well as thousands of students. Book a call now...

For more Foundr content, follow us on your favorite platform:

• Foundr.com
• Instagram
• YouTube
• Facebook
• X
• LinkedIn
• Magazine