I built a billion dollar company in 18 months

In this episode of My First Million, host Sam Parr speaks with Eric Lyman, co-founder of Ramp, about their ambitious journey to reach a billion-dollar company valuation in just 18 months. They discuss the inception of Ramp, which was launched publicly in February 2020, just before the pandemic. Despite initial setbacks due to the pandemic, Ramp experienced explosive growth, increasing revenue domestically to nearly $100 million annually in under two years fine-tuning their model and operations along the way.

Eric explains the innovative business model behind Ramp, focusing on the financial services and the credit card industry's complexities. He details how Ramp leverages transaction-based revenue through interchange fees while managing to create a product that offers users full expense visibility and control.

Throughout the conversation, Eric shares his perspective on maintaining a company culture that fosters rapid growth without burning out employees, as well as the importance of emotional intelligence in leadership. He reflects on his past experiences, the challenges of scaling a business, and the significance of strategic thinking in avoiding common pitfalls in entrepreneurship.

The episode wraps up with Eric addressing how they strive to maintain a long-term vision for Ramp while achieving rapid growth, emphasizing the importance of solid foundations and continual adaptation in the fast-paced tech landscape.