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“This is the nbillion dollar startup series your host. The angel kings. Today. We are are discussing zenpayroll.
Yeah. Ross let s talk about the npeople within zenpayroll. So zenpayroll started as a what s called a lightweight delightful modern delightful payroll system. And they actually came nout of a incubator space the founders did you ve got a phenomenal combination of hackers nhustlers and social media.
Maven. Which is the perfect nway in which you should evaluate a founding team. And so when you face such a phenomenal challenge of changing the way that npayroll and accounting s done for small businesses you nhave to create something very very simple that npeople can understand because like my dad who s nrun. A small business or run a business before nand.
My wife s father who runs his own you know these are the potential clients for zenpayroll. They have to be able to nexplain something to them in a very simple way not because they re not brilliant right. But because they don t have nthe time to learn a new system..
So in a particular case nwhere. You re solving such a massive headache as payroll and taxes and accounting nyou. ve gotta have some really bright people. But npeople that can connect and show the simplicity and that s probably the idea nwhy.
It s called zenpayroll right so their product sounds like nit s pretty user friendly do you think their do nyou use their product and do you think it ll be around the next 15 20 years from now. There s only one nmaybe one startup on our top 25. At angel kings in nthe billion dollar startups. That we didn t use we disclosed that we ll say this much i ve used the product.
I love it i think. It s one of the easiest ways to do accounting and save time. And time equals money is it perfect. No i think.
There s still this nlayer. The sort of manual process that prevents scalability meaning that you have nto still fill out forms and then fax them in to zenpayroll so it s still early stage. But it s enough that i ncan see the bigger vision and the bigger picture that it would be a billion dollar company..
Which is why we ranked them as we did okay so they re nexecuting. It sounds like they re executing pretty well yes they re a brandable company do you see the need for the company. Nmoving forward in the future. So i cannot see a bigger need because nothing.
I said this before nothing in life is certain nbut death or taxes. And there s going to be na need for zenpayroll. They have to figure out nwhat s the next step. I think they re the american nmarket is now being cornered by zenefits and zenpayroll two zs both of them are trying to nbecome.
The central platform. I ve used them both it s hard for me to distinguish ni think they re still not think i know that they re nbillion dollar companies. What they need to do both of them is to now differentiate themselves because who s the big player in the room quickbooks intuit payroll right they ve dominated the market. They re gonna have to ncreate their own separate technology.
Their own proprietariness or they might be run out of the game right so i know in the nbook. You discussed timing right when did they come into the market. I mean you talked about zenefits and and other companies did zenpayroll come into the market at a great time there s never a right time for i mean payroll s been nneeded to be quote unquote..
I don t wanna use the word disrupt. But that s the verb. It s disrupt or you know change or implemented. You know a new type of product.
They came at a time in which nthere was a rush right i mean we ve invested in it in dinero. Which is the the nplatform which you can do cloud management of your accounting. There is no right time for them i think they re out of nan inflection point. They re going to have to build a new a new first in type mentality.
Or they won t be a standalone ipo. They could be an acquisition ntarget that will be seen okay. So you think their exit strategy. Could be an ipo or be acquired.
It s an ipo if they build ntheir own standalone platform right if they only build nan app. That people log into and it s a sas app. Where nmore or less it s standalone and it allows you to nas a business manager your applications..
It won t be a billion dollar entity. A product if they figure out a way perhaps to integrate with consumers i mean mintcom. I think if they had done for businesses. They would have been a nbillion dollar acquisition not 300 400 million.
So that s gonna be important you ve got b to b. Now are they b to c. I think. There s even a larger play there that s a 10 20.
N30 billion dollar company. If they hit the b to c. And b. To b right right well nthank you so much ross find the next billion dollar startup at angelkingscom.
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