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Published · transcript-backed

Sri Batchu: evaluation

25 Jun 2023 Lenny's Podcast Lessons from scaling Ramp | Sri Batchu (Ramp, Instacart, Opendoor)

“Certainly we have a fantastic group of very sophisticated investors who have made introductions to Ramp as well and that helped. But I will say that is not as big of a channel as one might expect because companies have their own decision making frameworks for selecting a product like Ramp and the investor opinion and recommendation matters, but turns out it doesn't matter maybe as much as another customer who's actually used the product that they know or are actually experiencing the product.”

— Sri Batchu

Source trail

Everything needed to verify it.

Speaker
Sri Batchu
Attribution
Verified speaker
Claim type
evaluation
Recorded
25 Jun 2023
Publisher
Lenny's Podcast

Transcript context

…Do you know if the strategy there was VCs who connect them to small companies that would use Ramp or is it directly founders of companies that would immediately use Ramp? Yeah, I'll say it was more founders and executives of customers that can use Ramp. Certainly we have a fantastic group of very sophisticated investors who have made introductions to Ramp as well and that helped. But I will say that is not as big of a channel as one might expect because companies have their own decision making frameworks for selecting a product like Ramp and the investor opinion and recommendation matters, but turns out it doesn't matter maybe as much as another customer who's actually used the product that they know or are actually experiencing the product. Amazing, awesome tactic. I've not heard of that before. In terms of growth, how much of growth of early Ramp was new customers versus expansion within existing customers? Because what's cool about credit card is people spend more, you make more money because you're taking a piece of that. So roughly how much of the growth insanity over the first couple of years was from expansion within existing customers?…

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