The $10B Notion story

Hey, it's Guy & Farzan.

The sun's climbing higher over Manly Beach. Autumn light, but still warm enough for shorts. I've got paint under my fingernails and primer on my shirt.

Still painting my kid's room this week. There's something about repetitive work that clears the head. Brush stroke after brush stroke. No notifications, no decisions. Just wall, paint, progress.

As well as painting I’ve got some founder stories for you. Enjoy.

Reading time: 9.25 mins

In the mail today. 3 founder stories, 2 founder notes

 Founder story 1 

Ivan Zhao & Simon Last: From offline dreams to $10B workspace revolution with Notion

From tech veterans to productivity pioneers: How Ivan and Simon overcame technical disasters, fired their entire team, and built the world's most versatile workspace tool worth $10 billion.

The journey
- Ivan Zhao: Design background focused on user experience and interaction design
- Simon Last: Software engineering expertise with reputation for scalable solutions
- Started Notion in 2013 with vision of unified workspace combining notes, tasks, and databases
- Both founders were experienced tech professionals, not newcomers to the industry
- Relocated to Kyoto, Japan in 2015 to eliminate distractions and rebuild from scratch

The evolution of vision
- 2013: "Let's create a unified workspace that combines notes, tasks, and databases"
- 2014: "We need an offline-first tool that works without internet connection"
- 2015: "We're building on the wrong tech stack - time to start over"
- 2016: "Let's focus on real-time collaboration and online connectivity"
- 2023: "AI can supercharge productivity - let's integrate Notion AI"

Overcoming obstacles
- Built initial version on wrong tech stack (WebKit + CouchDB) causing severe performance issues
- Fired all four employees in 2015 when they realized the technical foundation was flawed
- Ivan borrowed $150,000 from his mother to keep the company alive
- Spent years rebuilding the entire platform from scratch with modern web technologies
- Struggled with sync issues and poor user experience in early versions

Today's impact
- $10 billion valuation (as of October 2021)
- 35+ million users worldwide
- 4+ million paying customers
- $350 million raised in total funding
- #1 Product on Product Hunt multiple times (entire months, not just days)

Growth strategies that worked
- Word-of-Mouth Marketing: Gained first 1,000 users organically without advertising spend
- Community Building: Fostered strong user community creating tutorials and templates
- Freemium Model: Made powerful tools accessible while generating revenue from enterprises
- Social Media Engagement: Utilized Twitter, Reddit, and Product Hunt for awareness
- Influencer Partnerships: Connected with content creators to expand reach

Key milestones
- 2013: Company founded with offline-first vision
- 2015: Fired entire team, borrowed money, moved to Kyoto to rebuild
- March 2016: Launched Notion 1.0, became #1 Product of the Month on Product Hunt
- March 2018: Released Notion 2.0 with major UI improvements, again #1 on Product Hunt
- September 2019: Reached 1 million users worldwide
- 2020: Experienced 400% growth, achieved $2 billion valuation
- October 2021: Raised $275 million, reached $10 billion valuation
- 2023: Launched Notion AI integration

The philosophy

"We wanted to create a 'thinking tool': a flexible, customizable space for organizing thoughts, ideas, and projects that could serve everyone from large organizations to individual freelancers."

"Information organisation shouldn't be a privilege reserved for large companies with big budgets. Powerful tools should be accessible to all."

Founder story 2

From 30+ failed projects to $10K/month: Thomas's brutal honesty

Thomas, founder of Uneed (a Product Hunt alternative), failed with 30+ projects before finally building something that works - now making $10K/month.

Key lessons from his failures:
- Give up too early - Most quit after weeks, not months of iteration
- Unclear purpose - If your headline doesn't instantly explain your value, you've lost
- Loss of momentum - Stop posting about your product = start building awareness from zero
- "Build it and they will come" mentality - Zero marketing = zero customers, regardless of features
- Bad timing - Sometimes the same idea fails in January but succeeds in July

What made Uneed work:
- Started as a frontend tools directory ($200/month max)
- Pivoted to launch platform during Product Hunt drama
- Perfect timing: indie hackers were complaining about PH favouring big products only
- Thomas knew the market, had distribution (Twitter), and understood how to sell it

His formula for good ideas:
- You must know HOW to sell it (market knowledge + distribution channel)
- You need competitors (no competitors = no market exists)
- Don't try to create new markets - you're not Steve Jobs

Current Numbers: 
40K users,
2K paying customers,
30K monthly visitors,
generating 10K product clicks/month

Best Advice: Treat building as a marathon, not a sprint. Maintain work-life balance - you can't code 10 hours/day indefinitely without burning out.

Founder story 3

Thibault Garcia: From Door-to-Door sales to six-figure lead generation empire

From vineyard sales in France to building a multi-channel outreach agency: How Thibault leveraged LinkedIn and AI to create a six-figure ARR business in just two years.

The journey
- Started as a door-to-door salesman in Toulon, France, selling to vineyards
- Moved to Asia as an exchange student for MBA program
- Worked across various company types: public, startups, pre-IPO
- Built expertise in Sales and B2B Marketing over several years
- Started testing services on Fiverr while maintaining corporate job
- Launched Reachly as a side agency in 2023
- Quit corporate job after building sufficient runway
- Relocated to Bangkok, Thailand to run the business

The evolution of vision
- 2023: "Companies need better lead generation beyond inbound channels"
- Early 2023: "Most businesses place high value on lead generation services"
- Mid 2023: "We need more customised, normalised approaches for better results"
- 2024: "Multi-channel outreach with AI-powered personalisation is the future"
- 2025: "Help B2B businesses generate conversations with people who matter most"

Overcoming obstacles
- Started with basic, average-performing lead generation approaches
- Client complaints about lack of normalisation and customisation
- Had to pivot from accepting all clients to being selective (now only 10-20%)
- Discovered Clay platform which revolutionised their outbound marketing
- Transitioned from Fiverr gigs to running a full-scale agency
- Balanced corporate job while building the business on the side
- Built systems to manage campaigns, clients, and scaling simultaneously

Today's impact
- Six-figure Annual Recurring Revenue (ARR)
- 7 employees across the team
- 50+ clients served since inception
- 2,500 website visitors per month
- Bootstrapped growth with no external funding
- Operating from Bangkok, Thailand

Growth strategies that worked
- LinkedIn Dominance: Leveraged existing 10k+ LinkedIn following for initial clients
- Content Marketing: Posts 1-4 times weekly with educational video content
- Cold Email Outreach: Primary validation and acquisition channel
- Strategic Partnerships: Collaborations to reach new audiences
- Directory Listings: Referral traffic generation
- Paid Advertising: Targeted ads for specific client segments
- Network Leverage: Used existing professional connections for early growth

Key milestones
- Started on Fiverr as testing ground
- Built 10k+ LinkedIn following
- Achieved two successful quarters on Fiverr
- Launched Reachly agency while employed
- Quit corporate job after 16 months
- Discovered and implemented Clay platform
- Expanded to multi-channel approach (LinkedIn DM + Cold calling)
- Added LinkedIn content creation services
- Built team of 7 employees

The philosophy

"AI output is only as good as the input. Companies that implement very complex systems, using AI with very good context, are going to stay ahead of the curve."

"In outreach, the only thing that truly matters is whether the message is easy to reply 'yes' to. That's the core goal of any campaign: generating a reply."

"There are only two outcomes in life: you either win or you learn."

 Founder note from David Hieatt

What the world’s fastest growing sport can teach you about building a movement

I played Padel for the first time this week.
And I get it now.

Here’s why it’s exploded - and what founders can learn.

1. Easy to start. Hard to master.
The rules are simple. The court is small. Anyone can have fun in the first 10 minutes. But there’s enough challenge to keep you coming back.

2. Built for connection.
It’s a doubles game. Half the fun is the banter. The other half is the people you meet through club apps that pair you with strangers.

3. Innovation is often a remix.
It borrows from tennis. It borrows from squash. But somehow it’s fresh. The magic often comes from making what we already know feel new and fresh.

4. Designed to be more fun.
Smaller court. Glass walls. Longer rallies. More shots = more fun. Constraints make the experience better.

5. Made to be shared.
Fast. Photogenic. Fun. Social media eats it up - and that’s fuel for growth.

6. Scarcity drives demand.
Court supply is low. Booking apps make playing easy. Demand outstrips supply - and everyone wants in.

7. The experience is bigger than the game.
It’s the cafés. The music. The tournaments. The new friendships. You come for the game, but you stay for the new community.

I’m already planning my next game.

 A founder note we loved

All done. See you in 7 days.

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See ya.

Guy + Farzan
Founderoo