Carl Turner runs Swipe.by, the AI marketing department for Main Street. $3.5M ARR, 400% YoY growth, 25+ employees, 3 engineers — and not one dollar spent on ads. Every customer comes from a rep knocking on a restaurant door. Full metrics, valuation math, and the rep comp plan: https://getlatka.com/companies/SwipeBy **The Business** 01:18 – Why restaurant owners are 100% "in the business," never on it 02:10 – $3.5M ARR, 400% year-over-year and accelerating 04:34 – 25+ full-time staff, only 3 engineers plus the CEO **The Door-to-Door Machine** 04:49 – 0 cold calls, 0 email automation: exclusively outside sales 07:01 – Rep math: 6 locations/month × $6K ACV = $36K new ARR, 30–40% commission 14:32 – 300–400 demos/month with $0 marketing and zero inbound **The Rep Deal** 06:30 – Promoted to W-2 within 6 months of surviving the field 15:08 – 70 touchpoints/week, $36–40K activity guarantee 16:31 – Every hire gets equity, 2-year vest **The Money** 07:38 – $450K from Founderpath, ~EBITDA breakeven every month 09:11 – 16-month payback, $35K/month fixed vs. Stripe's % of revenue 09:26 – Paid Stripe loans back in 3 months — why that killed the terms 10:47 – $100K cost of capital vs. $4.5M given to a VC on a 10x **The Pricing Trick** 11:39 – Free website, free online ordering, free loyalty — monetize the AI layer 12:44 – AI-generated birthday postcards with QR codes 13:52 – No free trials, ever; majority of customers prepay 12 months **The $15M Offer** 18:13 – Opened salons, found they were 5% short, shut it down 19:02 – Turns down $15M cash; VC term sheets at nearly 2x that 19:19 – Pushing for $60–75M valuation on $10M — a 20–25x multiple 20:14 – 2x liquidation preference math that can leave founders with $0 #SaaS #Bootstrapped #AIMarketing #Restaurants #OutsideSales #Founderpath