“Dumbest idea I’ve heard” to $100M ARR: Inside the rise of Gamma | Grant Lee (CEO)

Grant Lee is the co-founder of Gamma, the AI-powered presentation tool that’s one of the hottest and most interesting AI startups in the world right now. They’re valued at over $2 billion, and they hit $100 million ARR in just over two years, with a lean team of just around 30 people. Unlike many fast-growing AI startups, Gamma has been profitable for most of its history, has not raised significant funding, and they built a massive business in a category most investors dismissed. In fact, one investor told Grant his idea was “the dumbest idea he had ever heard.” We discuss: • How Gamma found product-market fit by rethinking their onboarding • Their process for building a “word-of-mouth machine” • How they leveraged more than 1,000 micro-influencers instead of big names • Why focusing on the “first 30 seconds” transformed their business • Their approach to pricing that led to profitability within months • How Grant thinks about building a durable “GPT wrapper” business — Brought to you by: Vanta—Automate compliance. Simplify security. Justworks—The all-in-one HR solution for managing your small business with confidence Miro—A collaborative visual platform where your best work comes to life — Where to find Grant Lee: • X: https://x.com/thisisgrantlee • LinkedIn: https://www.linkedin.com/in/grantslee — Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • X: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ — In this episode, we cover: (00:00) Introduction to Grant Lee and Gamma (05:59) The founding story of Gamma (09:52) Achieving product-market fit (15:43) Self-awareness as a founder (17:17) The power of onboarding (20:41) The original insight that led to Gamma (22:42) Founder-led marketing and growth tactics (29:20) Sharing online (37:40) Getting to $100M ARR (41:19) Influencer marketing as a growth strategy (54:08) Virality is not an accident (58:30) Investing in brand before paid ads (01:02:04) Tips for getting started with performance marketing (01:04:49) Prototyping and user feedback (01:16:12) Adapting and moving quickly (01:19:21) The concept of GPT wrapper companies (01:22:16) Deep dive into workflow and model utilization (01:29:06) Pricing strategies (01:34:53) Hiring philosophy and practices (01:43:24) Betting big on high performers (01:45:03) Final thoughts and lightning round — References: https://www.lennysnewsletter.com/p/how-50-people-built-a-profitable-ai-unicorn — Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com