In this episode of Run the Numbers, CJ sits down with Jake Kornreich, CFO of CoLab and former CFO of Own, live from the New York Stock Exchange. Jake breaks down the six-part framework behind Own’s $2.1B sale to Salesforce, why “control your destiny” matters, how CFOs should think about IPO readiness, board communication, share price theater, and why great finance leaders operate beyond the spreadsheet.

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LINKS:

Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsN

Guest: https://www.linkedin.com/in/jake-kornreich/

Company: https://www.colabsoftware.com/

CJ: https://www.linkedin.com/in/cj-gustafson-13140948/

Mostly metrics: https://www.mostlymetrics.com

TIMESTAMPS:

0:00 Preview and Intro

2:20 First stock

3:28 Benefits of going public today

5:42 Come-up: chief of staff to CFO

6:31 Running HR like a sales org

8:32 Control your destiny

9:24 Synergies with Salesforce

10:09 Sponsors — Rillet | EY | SpendHound

13:10 Do your own ROI due diligence

14:40 Share price equals entertainment

16:26 Disciplined execution

17:45 Performance, not stories

19:24 Activist investors and the acquirer's board

20:13 Write the memo for the other side

20:45 Sponsors — Brex | Aleph | RightRev

24:02 Triangulate your way to success

25:18 Your board takes snapshots, you run the movie

26:21 Knowing when to sell

27:16 Valuation limits your exit options

27:38 Stakeholder comms during the acquisition

29:58 CFO as operator, not just function

31:31 What is CoLab?

32:09 Why Jake joined post-Series C

33:50 Personal product market fit for CFOs

35:27 Lightning round

35:42 Screwed up: $5M budget error

36:17 Advice to younger self

36:41 Finance software stack

37:34 Culture of expense discipline

38:22 Credits

Salesforce Paid $2.1 Billion for His Company: Meet the CFO Who Made it Happen

Run the Numbers

Salesforce Paid $2.1 Billion for His Company: Meet the CFO Who Made it Happen