My First Million - He built a $1M/MRR dinner club app in 2 weeks with 0 employees
The podcast episode highlights the success story of "Time Left," a business founded by a French entrepreneur, Maxim Barbier, which organizes dinners for strangers to address the loneliness epidemic. The business model involves a subscription service where members pay around $20 a month to join weekly dinners with strangers, curated by a personality-matching algorithm. The company has grown rapidly, reaching $10 million in annual recurring revenue (ARR) within 10 months. The founder's journey includes several pivots from a bucket list app to a Tinder-like app for shared dreams, before settling on the current successful model. The business leverages the universal appeal of dining and socializing, tapping into a multicultural need for connection. The founder's personal story, including his transformation and previous ventures, adds depth to the narrative. The podcast also touches on the broader implications of such a business in today's socially disconnected world, suggesting that the timing and cultural context have contributed to its success.
Key Points:
- Time Left organizes weekly dinners for strangers to combat loneliness, charging a monthly subscription fee.
- The business achieved $10 million ARR in 10 months, highlighting rapid growth and market demand.
- Founder Maxim Barbier pivoted from other app ideas to focus on social dining, leveraging a universal need for connection.
- The company operates in 300 cities, with 18,000 dinners organized weekly, supported by 70 employees.
- The success is attributed to tapping into a multicultural need for real-life social interaction, especially post-COVID.