My guest today is Eric Glyman, co-founder and CEO of Ramp. Ramp is best known for its corporate cards but it has a range of software products to help finance teams save money and time. Since its founding in 2019, the business has grown rapidly and was last valued at $8 billion. Eric and I discuss Ramp’s initial marketing wedge, how the business has dealt with such fast growth, and why they hold stablecoins on their balance sheet. Please enjoy my conversation with Eric Glyman.
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[00:02:41] - [First question] - What was most notably awry about the industry before Ramp
[00:04:45] - Breakdown of Visa; The business model of the Black Card compared to the business card offering of Ramp
[00:08:40] - Causes and what he attributes their early success to
[00:11:30] - Description of Ramp’s software in the beginning and the evolution of co-building it
[00:16:34] - How he’s gone about building the company and team fast enough to handle their explosive growth curve
[00:19:47] - Approaching all aspects of recruiting and acquiring such great talent
[00:21:39] - Thoughts on the biggest mistake he’s made while building Ramp
[00:24:05] - Lessons learned about marketing that this journey has taught him
[00:26:13] - Learning to manage a senior team and advice for managing rapid growth
[00:28:58] - Unique aspects of Ramp’s approach to the financing side
[00:32:56] - Why they are storing some of their balance sheet in stablecoins
[00:34:47] - What the idealized end state of Ramp looks like
[00:37:26] - How the data and information he sees indicates trends in the economy writ large
[00:39:33] - Providing secondary liquidity to employees in a world where companies stay private for longer periods of time
[00:43:03] - Aspects of company building that are still unnecessarily hard
[00:44:55] - What has him most excited about Ramp in the next 12-18 months
[00:46:42] - The kindest thing anyone has ever done for him