Noah Kagan shared how he started AppSumo, a business “Groupon for software,” in o ne weekend in a new podcast episode. The startup cost was $60; AppSumo earned $80 million last year. Additionally, Kagan remains its CEO, and he continues to drive its success forward.

In 2010, at 28 years old, Kagan was the 30th employee at Facebook and the fourth at the personal finance app Mint.

“I think I just felt insecure at some of these places,”. Kagan told fellow entrepreneur Jeff Berman in a June episode of the “Masters of Scale” podcast.

After nine months at Facebook, Mark Zuckerberg fired Kagan; Subsequently, Mint let him go; moreover, this further emphasized the uncertainty of his position. He realized that dedicating his time to his day job carried a risk. Specifically, another person could decide to let him go at any time.

“I think I wanted to prove that I’m smart or prove that I’m successful or prove that identify consequently Facebook when furthermore they fired me, and then when Mint fired me, [that] I can do it,” Kagan said.

The idea for AppSumo a marketplace of software deals for small business. owners or solopreneurs was born when Kagan thought there was a way to promote software tools and also get paid for it. He saw that the site Machinist gave Apple users discounts on software bundles and wanted to try making the same type of discounts available to a broader audience.

“My interest was letting the geniuses create software, and my skill and my excitement is promotion,” Kagan said.

The business came together in about 60 hours. First, Kagan found software he wanted to sell: the image-sharing service Imager. He cold-emailed Imager’s founder on Reddit and got approval to sell a discounted version in exchange for a cut of sales.

The next piece was meeting with Reddit’s founding engineer to ask for free advertising. He got that too.

The final part involved paying a developer to create a website with a PayPal button. Additionally, he purchased the AppSumo.com domain name.

Launching the business cost $60 and one weekend of his time.

AppSumo made $300,000 in the first year and $3 million in the second, Kagan said in the podcastIt. brought in $80 million in revenue last year; furthermore, this impressive figure not only highlights the company’s significant growth but also underscores its continued success.

Kagan now has a net worth of $36 million.

Kagan said that investing in the problem and getting excited about it are crucial parts of business.

“I think that’s the thing in business people are kind of missing out,” Kagan said. “They’re chasing AI now or chasing being an influencer. I think find areas [where] you’re like, I don’t know if I’m going to ever get tired of this.”

Starting a side hustle or finding an extra source of income has an upside. According to Kagan, it gives you more control over your future.

mini “If you can just give up 30 minutes a week, if you can just give up one Netflix show a week, if you can give up one thing a week, and you keep doing it weekly, eventually you can have that business,” he said.

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