00:30:18 · Mati Staniszewski
[00:30:18] S0: Yeah. And and a 100%, it's it's kind of the place where we see just such a quick adoption. But an interesting thing that started happening is this shift from this being a customer support place where you reach out as a user when you have an issue into increasingly being more of a kind of a front facing experience, customer experience across the entirety of your products or or or or user journey. So from, you know, like, the traditional way, if you got an issue, you would reach out through through an email. Now we see companies working on bringing that as part of their website experience itself. So recently, we worked with company in in in Italy, their big... The biggest real estate company where they effectively placed an agent that as a buyer and seller of a company, you can reach out to to get information about that real estate. And they a few... They had, like, historically a huge supply and demand mismatch. So the seller of a property wasn't available to pick up the phone to give the information about the property. And on the other side, you had a lot of the buyers that were just not the right buyers for the property. So now you have an AI agent that you can call in and reach out and get information about the property, and then that information gets aggregated, gave... Given to to the seller of the property, and then they can reach out to the right ones. It helps improve their qualification rates from, like, twenty to sixty percent of people that are progressing to the next next step. And before, you you would only reach out if you had a problem going through through that experience. So it kind of is interesting wherein, increasingly, it's, like, kind of the part of the experience itself.
00:31:55 · Joubin Mirzadegan
[00:31:55] S1: Insane. So
00:31:56 · Mati Staniszewski
[00:31:56] S0: insane. In our own work, we we love trying to do it, like, how can we elevate our experience. We, of course, had... Because of the b two c and b two b angle, we had so many people reaching out for help, credits, how to use the product. So we shifted it where now you have our agents both on the website itself. So you can speak with an agent about ElevenLabs the moment you open the website of ElevenLabs. Then when you log in to the product, you can... You have an agent that can help you navigate through the product experience, will open items for you, speak with you about how it works. And and then, of course, on top that, you can reach out to support, which is also powered by our agents. So now you have, like, a full flat... Fleet of... From understanding to using to reaching out for help to even if you reach out for for for, like, sales part, we we work with our own agents to to help with that process. And and it's been it's been it's been amazing. It's been both amazing for the experience itself elevating and, of course, solving the issue. But second, and you kind of spoke about this briefly earlier, we we noticed a behavior change where if you know you can speak with an agent, you... Your behavior changes. And let's say you're talking about your use case, you are much more keen to tell you everything about the use case because, you know, you can... You are not judged. You can be a little more expensive. You have any time in the world to tell you about the use case, and this has, in turn, meant that we can provide you better experience. Even in the in the classic kind of BDR, SDR categories where you can reach out to ElevenLabs, all usual flow. You leave your details. You can you can request a use case. But then if you want, you can accelerate and give more information by talking to AIBDR, and then we loop you into the right person a little bit quicker. And and that has seen a great adoption as well.
00:33:50 · Joubin Mirzadegan, Mati Staniszewski
[00:33:50] S1: How big is the company now? [00:33:51] S0: So we have 330 people now. [00:33:53] S1: All everywhere? Everywhere, we [00:33:56] S0: have the biggest bases. So we we have still run it remote, so everybody can can work remote, but we started investing into hubs where you can work in person. And our biggest ones are in London and New York, San Francisco, Warsaw, and now we are starting some in Tokyo, Bengaluru, and Sao Paulo in Brazil as well. And you just raised it, what was it, like $6.06, 6,600,000,000 [00:34:22] S1: or something? [00:34:22] S0: 6.6. Yeah. [00:34:23] S1: And you let people take secondaries. Yes. Actually, only... [00:34:28] S0: There was only a tender. Yeah. Only secondary. [00:34:29] S1: Only secondary. [00:34:30] S0: Only secondary. [00:34:30] S1: 100,000,000? 100,000,000. 100,000,000 of only secondaries. Yep. Why? Was... Slash, was it a hard decision?
00:34:30 · Joubin Mirzadegan, Mati Staniszewski
[00:34:30] S1: 100,000,000? 100,000,000. 100,000,000 of only secondaries. Yep. Why? Was... Slash, was it a hard decision? [00:34:38] S0: Not hard decision. The the goal is simple. Like, we, you know, we we are here for the long term. We want to build something that will that will stand the test of time, but that also will require the next five, ten years of us continuously pushing. And and we want people to be aligned on that long term. And by making it true that, a, equity is valuable. Two, you can have early liquidity, so you take some risk. You get some of the rewards from that risk, but you are incentivized to work with us on even bigger outcome. Mhmm. And and I think it really helps. Like, I... You know, and I'm sure many companies are are saying that too, but I I do think we have so many extremely passionate missionary like people that that are in here for for that long term. And and for them, the change in the capital will not change their motivations in terms of of of work, which is the, I think, the most common piece that people people mention. And and we haven't. We've seen, like, people are even more aligned. Like, how do we get us now to... As a proxy of the impact we wanna create, how do we get ElevenLabs to 11 squared or a $121,000,000,000 company where where I think it's possible, and I think we can. And now people people are people are here for the long term. [00:35:57] S1: Where do you draw the line? [00:36:00] S0: I think you... The... It's [00:36:02] S1: It's tricky. Right?
00:36:02 · Joubin Mirzadegan, Mati Staniszewski
[00:36:02] S1: It's tricky. Right? [00:36:02] S0: It's it's like... I'm sure at some point, it will be tricky. Yeah. The current one, most... In in the same way, like, in sports, if you if you if you if you hire the most... The best high performance athletes, for them, if they are doing well, they want to be part of the winning team. That's kind of one. That's what we need to do. But two, the kind of the money equation doesn't change. You still want the performance of your game for the years to come. And and I don't... I think the same is... Applies to... Like, if you if you set the culture in the right way and then you have the people that are are performing next to you in a in a great way, then it it shouldn't change that motivation either. Mhmm. I think the the the harder one, as you think about that, it's it's harder if it's not going well. And and, of course, for a short period of time, if you... If you've said it well, you you you you can withstand that. But if it's a longer period of time, then I think it will get challenging because then a combination of you taking... Although, maybe not because you're still having, you know, a big incentive to make it great over long term. [00:37:07] S1: Yeah. Well... And you're not taking up rounds. You're not doing up rounds at that point if it's not going well.