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   A founder's secrets to navigating Seed to Series A 🌱
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   Three takeaways from our founder chat with Jonni Lundy, Cofounder and COO at Resend.
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                  Hey, it's Andrea here!
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                  How's your week been treating you? 👀
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                  Quick PSA before we dive in: We're relaunching our Founder Chats podcast, and guess what? You're getting an exclusive sneak peek to our premiere episode before it drops to the public next week. (!)
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                  Our first episode of the Founder Chats podcast features Jonni Lundy, Cofounder and COO at Resend, the developer-first email infrastructure platform backed by notable investors like Andreessen Horowitz.
                 </p>
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                  Curious to know what stuck with me the most as I was editing the chat?
                 </p>
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                 </p>
                 <p style="line-height:175%">
                  The stuff nobody talks about in those glossy "how we raised millions" almost-too-good-to-be-true Linkedin posts. The messy middle. Jonni's authenticity shines in this episode as he shares relatable and helpful advice for any SaaS founder navigating a growth phase.
                 </p>
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                  <br/>
                  So go on... grab your caffeinated beverage of choice and let's dive into three key takeaways from Luke's chat with Jonni!
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                 <h2 style="margin:0; line-height:175%; font-size:22px">
                  1. The shift in focus from Seed to Series A
                 </h2>
                 <p style="line-height:175%">
                  One of the main points that Luke was curious from the start of the chat with Jonni was how he had helped lead the shift from Resend's Seed round to their Series A.
                  <br/>
                  <br/>
                  <span style="font-weight: bold;">
                   Why?
                  </span>
                  Because each funding round forces startups to fundamentally rethink their strategy as they scale from survival mode to growth mode.
                 </p>
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                 <p style="line-height:175%">
                  Around the 10:26 mark in the chat, Luke and Jonni start discussing the changes in focus particularly around the metrics they were using as evidence of success.
                 </p>
                 <p style="line-height:175%">
                  <br/>
                  For Resend, Jonni talked about completely shifting their core metric
                  <span style="font-weight: bold;">
                   from burn rate to ARR per head
                  </span>
                  <span style="font-weight: normal;">
                   after Series A
                  </span>
                  . In other words, Series A for Resend meant instead of focusing on survival, they started optimizing for efficiency.
                  <br/>
                  <br/>
                  <span style="font-weight: bold;">
                   But here's what resonated
                  </span>
                  : They're still conservative. Even with funding, they validate with the smallest amount of capital possible before pouring gas on the fire.
                  <br/>
                  <br/>
                  In an era where every founder is trying to speedrun to unicorn status, the team at Resend is playing the long game.
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  Sounds more sustainable, if you ask me!
                 </p>
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                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_17484506070083_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <h2 style="margin:0; line-height:175%; font-size:22px">
                  2. Your retention graph tells the real story (not your vanity metrics)
                 </h2>
                 <p style="line-height:175%">
                  The second point I really wanted to dig into comes at around 16:02 in the chat, where Jonni shares that he downloads
                  <a data-hs-link-id="0" data-hs-link-id-v2="zhRtJSl1" rel="noopener" style="color:#00a4bd" target="_blank">
                   Baremetrics retention tables
                  </a>
                  , throws them into a spreadsheet, and graphs them inverted.
                  <br/>
                  <br/>
                  <span style="font-weight: bold;">
                   Why?
                  </span>
                  Because it visually shows whether you have a leaky bucket or not.
                 </p>
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                <img align="middle" alt="Customer Rentention Cohorts" src="https://inboxflows.com/_/image/https%253A%252F%252Fbaremetrics.com%252Fhs-fs%252Fhubfs%252FCustomer%2520Rentention%2520Cohorts.png%253Fwidth%253D1120%2526upscale%253Dtrue%2526name%253DCustomer%2520Rentention%2520Cohorts.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZiYXJlbWV0cmljcyIsInRpbWUiOjE3NTY0ODAwNjUuMzg4OTA2Mn0:1us0hd:ySBa2q_Po_Hz3F1gmG9qLwg6RW1JzY-Iv1eZnf1zn18" style="outline:none; text-decoration:none; max-width:100%; font-size:16px" width="560"/>
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                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_17563140593087_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <p align="center" style="line-height:175%; text-align:center">
                  <em>
                   Retention Table in Baremetrics
                  </em>
                 </p>
                </div>
               </div>
              </td>
             </tr>
            </tbody>
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                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_17563139900655_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <p style="line-height:175%">
                  Here's what he discovered:
                 </p>
                 <ul style="line-height:175%">
                  <li>
                   One product line: Lost customers for the first three months, then the curve stabilized
                  </li>
                  <li>
                   Another product line: Just kept trending downward
                  </li>
                 </ul>
                 <p style="line-height:175%">
                  The insight here? Those graphs revealed something critical—one product had found its fit after an initial shake-out period, while the other had a fundamental problem. Without visualizing retention this way, you might miss these patterns entirely.
                  <span style="font-weight: bold;">
                   <br/>
                  </span>
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  📌
                  <span style="font-weight: bold;">
                   Something to try
                  </span>
                  : Take a fresh look at your retention by cohort. Sometimes the story hiding in those tables is different from what your topline metrics suggest.
                 </p>
                </div>
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                    <a data-hs-link-id="0" data-hs-link-id-v2="AhAq87IZ" style="color:#00a4bd; font-size:16px; font-family:Lato,Tahoma,sans-serif; Margin:0; text-transform:none; text-decoration:none; padding:12px 18px; display:block" target="_blank">
                     <strong style="color:#ffffff;font-weight:normal;text-decoration:none;font-style:normal;">
                      Peek at your own retention tables in Baremetrics
                     </strong>
                    </a>
                   </td>
                  </tr>
                 </tbody>
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               </div>
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                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_17562301209853_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <h2 style="margin:0; line-height:175%; font-size:22px">
                  3. When success stops having your name on it
                 </h2>
                 <p style="line-height:175%">
                  During his founder chat with Luke, Jonni also shared something vulnerable about his transition from IC to founder—he had to rewire how he gets satisfaction from work.
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  As an individual contributor, you own your domain, you put your name on progress, and you get to see that direct impact.
                 </p>
                </div>
               </div>
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                <img align="middle" alt="2-4" src="https://inboxflows.com/_/image/https%253A%252F%252Fbaremetrics.com%252Fhs-fs%252Fhubfs%252F2-4.png%253Fwidth%253D1120%2526upscale%253Dtrue%2526name%253D2-4.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZiYXJlbWV0cmljcyIsInRpbWUiOjE3NTY0ODAwNjUuMzg5MDE0N30:1us0hd:SjVuTId-RPwD01A0oCJiqAgO7DSv9I2x37grI6c-qdI" style="outline:none; text-decoration:none; max-width:100%; font-size:16px" width="560"/>
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               <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" data-hs-cos-general-type="widget" data-hs-cos-type="module" id="hs_cos_wrapper_module_17563159007958" style="color: inherit; font-size: inherit; line-height: inherit;">
                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_17563159007958_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <p style="line-height:175%">
                  As a founder? "If you're successful, it's someone else bringing about that success," Jonni shared with Luke.
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  He made this unexpected comparison: becoming a parent (he has a three-month-old) feels similar to being a founder. When his daughter learns something new, he gets this "secondary bloom of dopamine" even though he can't take credit for it.
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  That shift from "I built this" to "my team achieved this" isn't just about leadership maturity. It's about completely changing your internal reward system. You stop needing your stamp on everything and...
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  You start finding joy in other people's wins instead.
                 </p>
                </div>
               </div>
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               <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" data-hs-cos-general-type="widget" data-hs-cos-type="module" id="hs_cos_wrapper_module_17509840466121" style="color: inherit; font-size: inherit; line-height: inherit;">
                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_17509840466121_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <p style="line-height:175%">
                  Look, I know we're all supposed to be crushing it and 10x-ing everything, but Jonni's approach feels... sustainable? Human? Like something you could actually do for a decade without burning out?
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  His perspective was definitely refreshing and worth a full watch on YouTube.
                 </p>
                </div>
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               <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" data-hs-cos-general-type="widget" data-hs-cos-type="module" id="hs_cos_wrapper_module_17563093037672" style="color: inherit; font-size: inherit; line-height: inherit;">
                <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:separate!important">
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                   <td align="center" bgcolor="#5484FC" style="font-family:Lato, Tahoma, sans-serif; font-size:15px; color:#23496d; word-break:break-word; border-radius:8px; cursor:auto; background-color:#5484FC; mso-padding-alt:12px 18px" valign="middle">
                    <a data-hs-link-id="0" data-hs-link-id-v2="e4AKe7ee" style="color:#00a4bd; font-size:16px; font-family:Lato,Tahoma,sans-serif; Margin:0; text-transform:none; text-decoration:none; padding:12px 18px; display:block" target="_blank">
                     <strong style="color:#ffffff;font-weight:normal;text-decoration:none;font-style:normal;">
                      Watch Jonni's full Founder Chats episode
                     </strong>
                    </a>
                   </td>
                  </tr>
                 </tbody>
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               </div>
              </td>
             </tr>
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              <td class="hs_padded" style="font-family:Lato, Tahoma, sans-serif; font-size:15px; color:#23496d; word-break:break-word; padding:10px 20px">
               <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" data-hs-cos-general-type="widget" data-hs-cos-type="module" id="hs_cos_wrapper_module_17563089662661" style="color: inherit; font-size: inherit; line-height: inherit;">
                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_17563089662661_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <p style="line-height:175%">
                  What surprised you most from Jonni's approach?
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  Hit reply—I read everything, and I'm genuinely curious what resonated with you from our first Founder Chats episode. ✨
                 </p>
                </div>
               </div>
              </td>
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                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_17429435525301_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <p style="line-height:175%">
                  Cheers,
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%; font-weight:bold">
                  Andrea
                 </p>
                 <p style="line-height:175%; font-weight:normal">
                  Content Marketer @ Baremetrics
                 </p>
                </div>
               </div>
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                <img align="middle" alt="Newsletter Profile Image" src="https://inboxflows.com/_/image/https%253A%252F%252Fbaremetrics.com%252Fhs-fs%252Fhubfs%252FNewsletter%2520Profile%2520Image.png%253Fwidth%253D150%2526upscale%253Dtrue%2526name%253DNewsletter%2520Profile%2520Image.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZiYXJlbWV0cmljcyIsInRpbWUiOjE3NTY0ODAwNjUuMzg5MTQ5fQ:1us0hd:sKzfFmSUpcj46uvv-1JCqIYCyHqZDIqTCt2bbXqnze0" style="outline:none; text-decoration:none; max-width:100%; font-size:16px" width="75"/>
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               <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" data-hs-cos-general-type="widget" data-hs-cos-type="module" id="hs_cos_wrapper_module_175631700558310" style="color: inherit; font-size: inherit; line-height: inherit;">
                <div class="hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_rich_text" data-hs-cos-general-type="widget" data-hs-cos-type="rich_text" id="hs_cos_wrapper_module_175631700558310_" style="color: inherit; font-size: inherit; line-height: inherit;">
                 <p style="line-height:175%">
                  <span style="font-weight: bold;">
                   P.S. Calling all founders with a story to tell!
                  </span>
                  ☎️
                 </p>
                 <p style="line-height:175%">
                  I'm looking for interesting builders to interview on our podcast.
                 </p>
                 <p style="line-height:175%">
                 </p>
                 <p style="line-height:175%">
                  If you know a founder with a great story—or if that founder is YOU—
                  <span style="font-weight: bold;">
                   hit reply
                  </span>
                  and let me know. I'd love to chat!
                 </p>
                </div>
               </div>
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