Ben Chestnut: The Journey of MailChimp and the Lessons of Entrepreneurship
Ben Chestnut, the co-founder of MailChimp, shares his remarkable journey from a struggling web design company to a global email marketing platform that was sold for over $12 billion. In this interview, Chestnut reflects on the challenges and triumphs of building MailChimp, the importance of timing and grit, and the lessons he learned along the way.
Early Days and the Birth of MailChimp
Chestnut and his co-founder Dan Kurzius started MailChimp in 2001 as a web design company. They quickly realized that many of their clients needed help with email marketing, so they built a tool to help them send newsletters and other promotional emails. Over time, MailChimp evolved into a full-fledged email marketing platform that offered a range of features and services for small businesses.
The Importance of Reinvention and Nimbleness
Chestnut learned early on in the tech industry that companies need to reinvent themselves every three years to keep up with changing customer tastes and technological advancements. He made sure that MailChimp remained nimble and adaptable, even as the company grew and faced new challenges. This allowed MailChimp to stay ahead of the competition and continue to meet the needs of its customers.
The Power of Free and the Rise of MailChimp
In 2009, MailChimp launched a free plan that allowed users to send up to 12,000 emails per month. This was a revolutionary move at the time, as most email marketing platforms charged users a monthly fee. The free plan was an instant success, and it helped MailChimp grow from a small startup to a global company with millions of users.
The Challenges of Scaling and the Importance of Engineering
As MailChimp grew, Chestnut faced the challenge of scaling the company's infrastructure to handle the increasing volume of emails and users. He realized that he needed to hire more engineers and invest in new technology to keep up with the demand. This was a difficult decision, as MailChimp had always been a lean and frugal company. However, Chestnut knew that it was necessary to ensure the long-term success of the company.
The Importance of Timing and the Sale of MailChimp
In 2021, MailChimp was sold to Intuit for over $12 billion. Chestnut had been approached by several companies over the years, but he had always been reluctant to sell. However, as he approached his late 40s, he began to think about his legacy and the future of the company. He realized that it was time to sell MailChimp and move on to the next chapter of his life.
The Lessons of Entrepreneurship and the Importance of Grit
Throughout his journey, Chestnut learned many valuable lessons about entrepreneurship and the importance of grit. He believes that success in business requires hard work, determination, and the ability to persevere in the face of adversity. He also believes that it is important to stay true to your values and vision, and to never give up on your dreams.
The Future of Ben Chestnut and the Importance of Living in the Moment
After selling MailChimp, Chestnut has retired from the tech industry and is enjoying his newfound freedom. He spends his days walking his dog, taking Pilates classes, and studying philosophy. He also enjoys spending time with his family and friends, and he is grateful for the opportunities that he has had in his life.
In conclusion, Ben Chestnut's journey is a testament to the power of entrepreneurship and the importance of grit. His story is an inspiration to anyone who is considering starting their own business, and it offers valuable lessons for anyone who is looking to achieve success in their chosen field.