Selling Insided to Gainsight: Insights to Exit, Robin van Lieshout on Building and Selling a Software Giant

12/21/23 • 67 min

In today's episode, we're delving into the remarkable entrepreneurial journey of Robin van Lieshout, the founder who recently led his company Insided to a monumental acquisition by Gainsight.

In this intimate conversation, Robin opens up about the highs and lows that come with building a successful business from its online consumer electronics origins to a community software leader netting 100 million ARR in 2022. Listen in as he shares the ups and downs of partnering with a friend, the emotional impact of downsizing his team, and the strategic moves that substantially increased his company's valuation.

We're also tackling the personal side of selling a business. Robin reflects on his quest for meaning and purpose post-acquisition, the significance of creating a network of peers for support, and the influence of company culture on a successful team dynamic. Get an inside look at what it takes to navigate the challenges of international expansion and hear Robin's candid take on the decision-making process that eventually led to Gainsight's purchase offer.

Learn about the considerations that outweighed even high valuation term sheets, and discover why Robin made the tough choice to prioritize stability and strategic alignment over greater financial incentives. Robin also imparts wisdom on the value of external perspectives and the role they played in his company's pivotal moments.

So, tune in as we explore these insights and more with our exceptional guest, Robin van Lieshout, on this episode of The Big Exit Show. Whether you're a founder, investor, or merely intrigued by the art of the exit, today's conversation is sure to enlighten. Stay with us, as we uncover the complexity and victories within the ultimate entrepreneur's rite of passage—the big exit.

06:41 Starting a company with close friends.
11:21 Invested in culture and team dynamics from start.
16:17 Changed my perspective on board meetings positively.
21:19 Balancing ambition with honesty and realism is crucial.
28:42 Struggles as a CEO, seeking external perspective.
32:39 Organization crashed due to selling to many segments.
39:08 Flew to London for 20-minute vision presentation.
46:55 Disagreement over currency reporting, causing nerve-wracking delay.
52:04 Considering selling company to unknown brand name.
57:50 Assumptions about customer base and revenue growth.
01:02:30 Quiet office celebration for pending acquisition announcement.
01:07:42 Considering future roles and potential time off.

Getting to know Robin van Lieshout:
Robin is an Entrepreneur, Investor, Strategist and Community Builder. He founded and sold two companies, most recently inSided, a SaaS platform for technology companies to build their own Community. He raised $7M in funding, scaled to 100+ employees worldwide and eventually sold to San Francisco based Customer Success leader Gainsight.
Robin currently acts as the Chief Strategy Officer at Gainsight, where he is responsible for several product lines, new market development, long term corporate strategy and M&A. He recently did his first $50M+ acquisition and has the experience of being on both sides of the table. In his free time he is an advisor and investor in many startups, large VC/PE funds and in family time.

You could find Robin's book: Customer communities here.

Thanks for joining us on The Big Exit Show! If you liked our chat with Robin van Lieshout, please follow us on your podcast platform of choice to stay updated with our latest episodes.

We'd also really appreciate if you could leave us a review. Your ratings and feedback help us reach more listeners and keep delivering the content you love.

Catch you on the next episode for more incredible exit stories!

In today's episode, we're delving into the remarkable entrepreneurial journey of Robin van Lieshout, the founder who recently led his company Insided to a monumental acquisition by Gainsight.

06:41 Starting a company with close friends.
11:21 Invested in culture and team dynamics from start.
16:17 Changed my perspective on board meetings positively.
21:19 Balancing ambition with honesty and realism is crucial.
28:42 Struggles as a CEO, seeking external perspective.
32:39 Organization crashed due to selling to many segments.
39:08 Flew to London for 20-minute vision presentation.
46:55 Disagreement over currency reporting, causing nerve-wracking delay.
52:04 Considering selling company to unknown brand name.
57:50 Assumptions about customer base and revenue growth.
01:02:30 Quiet office celebration for pending acquisition announcement.
01:07:42 Considering future roles and potential time off.

You could find Robin's book: Customer communities here.

Thanks for joining us on The Big Exit Show! If you liked our chat with Robin van Lieshout, please follow us on your podcast platform of choice to stay updated with our latest episodes.

We'd also really appreciate if you could leave us a review. Your ratings and feedback help us reach more listeners and keep delivering the content you love.

Catch you on the next episode for more incredible exit stories!

Previous Episode

Selling Givve to Up group - Patrick Löffler's power of workplace culture in successful exits

On this episode of The Big Exit Show, hosts Johan and Anke sit down with Patrick Löffler, the former snowboarder and entrepreneur behind the successful credit card company Givve. They explore Patrick’s unique journey from bankruptcy to building a company that prioritized digital work culture and employee well-being. Listen in as this episode discusses the following:

Givve's strategic pivot
The complexities of the acquisition process
The crucial role of workplace culture in choosing an acquisition partner
And Patrick's personal takeaways from the exit experience

All wrapped up with insights on the true cost and rewards of entrepreneurship. It's a tell-all episode packed with lessons on innovation, perseverance, and the art of a graceful exit.

More about Patrick:
Patrick launched GIvve in 2010 as a company selling universal gift vouchers. Initially targeting consumers (B2C), the business saw limited success. Recognizing the need to adapt, Patrick strategically shifted GIvve's focus to a business-to-business (B2B) model. Capitalizing on country-specific tax incentives, such as Germany's €50 per employee tax-exempt benefit, GIvve now supplies prepaid credit cards for companies to offer as tax-free perks to employees. Patrick's leadership and agility have made GIvve a key player in providing practical financial solutions that fit seamlessly into an employee's daily essentials—right next to their keys and phone.
What to learn more about Patrick, check this out
givve® » Ihr erfahrener Partner für starke Benefits

The Big Exit Show is an initiative by Peak and NP-Hard. Want to know more about Peak and the ventures we back? Check out our website. Want to know more about NP-Hard? Have a look at our website.

Feedback for our podcast or want to be featured on our show? Please reach out at [email protected].

Next Episode

Selling Crossinx to Unified Post from Bankruptcy to Tech Success

In this episode from "The Big Exit Show" we have the privilege of speaking with Marcus Laube, a true paragon of business acumen and perseverance. His is a journey from salvaging a company on the brink of collapse to steering it towards a prosperous and strategic acquisition.
Marcus' story begins with a bold decision to buy out a bankrupt company, armed only with resourcefulness and an unwavering conviction in the obsolescence of paper invoices. From the modest initial financing through the sale of second-hand furniture to its impressive turnaround and Nordic acquisition, Marcus's tenure laid the groundwork for a new venture, conceived in the shadow of the financial downturn and subsequent market adversities.

We explore the network effect that was integral to the company's success, weaving a tale of how connecting a multitude of smaller suppliers catapulted to significant business growth. Beyond business strategies and financial details, we delve into the personal dimensions of Marcus’s experiences. Navigating the complexities of business relationships that bleed into personal interactions, handling the emotional weight of parting with a business nurtured for 25 years, and the strategic contemplation that led to Marcus’s final exit.

We invite you into this comprehensive discussion that celebrates entrepreneurial victory and confronts the arduous challenges and profound emotional investment that come with a life dedicated to innovation and leadership. Thank you for joining us on The Big Exit show, where we navigate the complexities of exits, transitions, and the sheer grit it takes to make it to the top in the tech industry. Let's begin.

We will talk about:

00:00 Obsession with market timing leads to success.
04:33 Pioneered electronic invoicing before it was common.
07:22 Investment refusal led to personal buyout and restart.
11:37 Market advanced, early days for e-invoicing, challenges.
15:16 Financial crisis drove e-invoicing with large buyers.
18:24 Focus on large buyers, diverse portfolio gained. Missed geographic expansion opportunity.
20:49 Seeking long-term investors, avoiding reliance on venture capital.
24:50 Board of directors, friends and family, crucial.
27:46 Reflection on age, investment, and business decision.
31:51 Detailed discussions and due diligence were exhausting.
34:31 Realizing the need to let go. Massive company transition with uncertainty for employees.
37:37 Minimal celebration, focused on work and family.
39:25 Transition from CEO to management, positive cooperation.
43:46 Discussed multiple aspects of geographical leadership challenges.
46:11 Impressed by Mark's resilient entrepreneurial journey

Get to know Marcus better:
Marcus is an entrepreneurial pioneer who had the foresight to delve into the digital realm just as the internet was blossoming. His journey began shortly after his studies, when he secured his first job at Lufthansa in the late 1990s. Fascinated by the new technological frontier, Marcus contemplated the potential uses of the burgeoning World Wide Web for established companies like Lufthansa. This early experience sowed the seeds for his first venture, Seals, an invoicing company he launched in 1999, right at the dawn of the internet era. With this initial foray, Marcus positioned himself at the forefront of internet-based business solutions, showcasing his innovative spirit and his knack for recognizing and capitalizing on emerging technologies.

The Big Exit Show is an initiative by Peak and NP-Hard. Want to know more about Peak and the ventures we back? Check out our website. Want to know more about NP-Hard? Have a look at our website.

Feedback for our podcast or want to be featured on our show? Please reach out at [email protected].