20VC: From Unsexy Startup to $1.8BN Acquisition | Why VCs and Founders are Fundamentally Misaligned | Why Valuations and Fundraising are BS | Lessons from Josh Kushner and Marc Andreesen | Zac Bookman, OpenGov | The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch | Podwise
20VC: From Unsexy Startup to $1.8BN Acquisition | Why VCs and Founders are Fundamentally Misaligned | Why Valuations and Fundraising are BS | Lessons from Josh Kushner and Marc Andreesen | Zac Bookman, OpenGov
In this episode of the 20VC podcast, Zac Bookman, co-founder and CEO of OpenGov—a GovTech company that was sold for $1.8 billion—shares his journey in building and scaling a B2G SaaS business. He delves into the challenges of navigating contracts in the $5k-$25k range, the critical need for high gross retention, and the often conflicting interests between founders and venture capitalists. Bookman stresses the significance of achieving product-market fit, the necessity of rapid iteration, and the strategic expansion of product offerings. He also offers valuable insights from his fundraising efforts, managing a board, and the emotional journey leading to OpenGov's sale, ultimately reflecting on how the financial success brought a sense of security.
