Aman Narang is the Co-Founder and CEO of Toast, one of the best-in-class vertical SaaS companies of our time with a market cap today of $13.5BN. Five astonishing stats that show the quality of the Toast business today:
- $1.2bn in ARR with 48.4% from payments.
- Toast Capital has reached $1bn in annualised loans originated.
- 875k restaurants in the US (Toast has 112k: 13% market share)
- 75% of locations are coming from inbound channels
- The first investor in the company invested $500K at a $3M price
In Today's Episode with Aman Narang We Discuss:
1. The Biggest Mistakes Founders Make:
- Why does Aman believe that founders should spend more time fundraising and with investors early?
- Why does Aman believe founders should hire managers before they think they need them?
- Why does Aman believe that founders do not give up control early enough?
2. Lessons Scaling to a $14BN Market Cap:
- What did Aman and Toast do so successfully that allowed them to scale to $14BN market cap in 12 years? What worked?
- What are the single biggest mistakes Toast made that hindered their growth most?
- What are the first things to break in hyperscaling companies?
- What opportunity did Aman and Toast not take that with the benefit of hindsight, he wishes they had taken?
3. Crucible Moment Decisions: Expansion:
- How did Aman and Toast know when was the right time to release a second product?
- What has enabled Toast Capital to scale to $1BN in loans so efficiently?
- How did Aman and Toast scale so successfully into both enterprise and SMB? What are the biggest lessons from doing so? What did not work?
- How do Aman and Toast approach geographic expansion? How do they choose which countries to expand into?