Thinkific

Thinkific has a $1B+ market cap — investors are paying for the payments business

Sam notes course platform Thinkific went public with a $1B+ market cap on tiny sales. Ankur (Teachable founder, which sold for ~$250M on ~$25M sales) says the premium comes from saved-card payments revenue — once buyers start spending they keep buying.

“It's over a billion dollars their market cap is. And I asked Ankur. So our friend Ankur, he started this company called Teachable. When Teachable sold, they sold for, I think, $250 million.”