WeWork Remotely Profit Growth
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Andrew Wilkinson shares how they grew WeWorkRemotely.com through simple improvements after acquiring it.
"We bought WeWorkRemotely.com about 10 years ago from the guys at Basecamp. They just didn't do any marketing or promotion, didn't do any SEO. We bought the business, paid 3-4 times earnings which was a fair price given what it was doing.
We immediately took the price from $199 to $299 because that's what all the other job boards were charging. We hired an SEO consultant, started doing SEO, started doing email marketing. That business went from doing about 400k of profit to a couple years ago it did 4 million of EBITDA.
The business had 2 employees and 1-2 part time contractors. Literally the entire team could go pens down for 6 months and it would still keep printing cash. When you look at it, it's business on easy mode versus hard mode."
Andrew Wilkinson
Co-founder of Tiny
Wilkinson is the co-founder of Tiny Capital, which owns companies including AeroPress, MetaLab and Dribble. He is also the co-founder and chairman of WeCommerce, a holding company that starts, buys, and invests in the world’s top Shopify businesses.