GE 188: How Twenty20 Burned $10M and Still Emerged as a Successful Company (podcast)

Matt Munson

Hey everyone, in today’s episode I share the mic with Matt Munson, founder and CEO of Twenty20, a company that provides a photography marketplace for some of the best-looking authentic stock photos and royalty-free images anywhere.

Listen as Matt shares how Twenty20 burned through $10M by trying to scale too quickly and the lessons he learned (including talking about his “failures”), how they built a massive photo catalog of 50M+ images from 300K photographers that Google, Apple & Pinterest use (without advertising for a single photographer!), and how Twenty20 got 1,000 subscribers, 170K in MRR and 10x growth in 1 year.

Download podcast transcript [PDF] here: How Twenty20 Burned $10M and Still Emerged as a Successful Company TRANSCRIPT

Time-Stamped Show Notes:

3 Key Points:

  1. Your plans will not always take you to where you thought you’d be—sometimes, they take you somewhere better.
  2. Don’t put all your eggs in one basket—entrepreneurs should calculate their risk taking.
  3. Prevention will always be better than the cure, start acknowledging those gaps when you see them.

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About Eric Siu

Eric Siu (@ericosiu) is the CEO at Single Grain, a digital marketing agency that focuses on paid advertising and content marketing. He contributes regularly to Entrepreneur Magazine, Fast Company, Forbes and more.

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