Chad Stephens – You Can't Make Money From a Form

Chad Stephens and three mates couldn't get a rental in Brighton. After filling out the same two-page paper application for property after property, Chad and his best mate Chris Koch went looking for an online version. There wasn't one, so they built it. That became 1Form, which ended up used across most of the Australian rental industry and was bought by REA Group in 2014. Everyone they pitched told them it was just a form.

Chad walks through funding it with maxed-out credit cards, a bank loan for a car they never bought and the sale of the cars they already had, then moving back home. He explains how they won over one of Melbourne's most respected property managers by building everything she asked for, how lunch in an empty fine dining restaurant led to $250,000 from the people behind Carsales, and the $5 save button that finally made the business money. Then comes the sale. REA had once told them it would build the idea itself, and eight years later it bought the company, cutting the agreed price from $17 million to $15 million a week before signing.

He also covers Fillr, which burned $300,000 a month, pivoted to mobile checkout for buy now, pay later apps, and sold to Rakuten after COVID derailed a Series B in March 2020, with his wife running the legals while he walked the pram. He finishes with his next venture, Formlytics, and three life lessons: why friends and family loving your idea is a warning sign, why a blocked road is just a stop sign, and why knowing your weaknesses tells you who to partner with.

Find Chad

Chad on LinkedIn: https://www.linkedin.com/in/chadstephens1/

Fillr: https://www.fillr.com/

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Life After Launch is an Aussie Founders Club podcast.

Aussie Founders Club is a community for Founders, operators and investors navigating the Australian startup ecosystem. What started as an events-first, in-person community has grown into a network of thousands, connecting people building startups with the people who've done it before. Join the conversation and the community at https://aussiefoundersclub.com/