Customers have clearly expressed that they are more comfortable keeping their money in an institutional bank, although co-mingling funds with their personal bank accounts is a problem. What the 220,000 ZenBusiness Customers Don’t WantĪlthough Buhrdorf embraces the fintech association, he’s listened to customers and knows that what they don’t want is for the SaaS platform to also serve as a bank. “The pros know how to ask the right questions,” he quipped. However, he explained that ZenBusiness invests heavily in multiple brand and product marketing research groups like AnswerLab to gain insights into what products will generate the best user experience. In fact, their first survey asked customers to check a list of products that they’d like to see customers prioritized banking, taxes, accounting, and websites as their most critical areas of interest. When asked about customer survey methods, Buhrdorf explains that ZenBusiness regularly relies on SurveyMonkey ( recently acquired by Zendesk for $4.13B ) to query customers about their specific questions, concerns, and needs as budding business owners. Everyday Tools Plus Pro Researchers Help Drive 10,000+ New Customers/Month Buhrdorf admits that sometimes customers say one thing, then do another “when it’s time to get out their credit card,” which is why their product development approach successfully includes extensive surveying and marketplace testing. “As a software company, we’ve challenged ourselves to build exactly what the customer wants, and for the price they want to pay,” he explained. How ZenBusiness Grew From 70,000 Customers to 220,000 in 24 MonthsĪccording to Buhrdorf, the company has grown exponentially by first listening to customers and then testing exhaustively. Recently raised $200m in Series C from Oak HC/FT to hit $1.7 Billion Unicorn status.Based on his growth plan and current base of 220,000 customers, Buhrdorf believes investors got a great deal. Led by Oak HC/FT, the investment is Austin’s largest SaaS financing round this year. With the close of a $200m Series C funding round in November, ZenBusiness immediately became the latest Texas unicorn. ZenBusiness Hits $1.7B Valuation After Five Years It’s yet another example of how Buhrdorf utilizes his passion for digital innovation, security, and mobile technology to help consumers become successful entrepreneurs. This single, comprehensive, guided platform continues to expand to provide all the tools an entrepreneur needs to get their business or side hustle successfully up and running. Tapping Into 80% of the Global Economyįounder Buhrdorf, less than a year after the sale of HomeAway, launched his new venture as a SaaS platform designed to help historically underserved small business owners start, run, and grow their companies. His 30 years of experience tells a much more powerful story of an entrepreneur, technology leader, c-level executive, angel investor, and board member best known for being the Founding CTO of HomeAway, which was acquired for $3.9B by Expedia Group in 2015. Buhrdorf shares his product development process, expected run rate this year and categorizes his business in a new way that surprises and delights interviewer Nathan Latka.īuhrdorf humbly describes himself as a software engineer. Five years after its inception in 2016, ZenBusiness Founder and CEO Ross Buhrdorf sat down for a second time with the GetLatka team to discuss the company’s most recent explosive growth and expansion.
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