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How Ramp Won Corporate Spend by Automating Approval Workflows
Lucas and Luna unpack how Ramp, the corporate spend management startup, reached a $8.1 billion valuation by solving a specific workflow problem: procurement approvals that take three weeks. They trace Ramp's origin story from co-founder Eric Glyman's prior startup Paribus (acquired by Capital One) to the product insight that got founders to switch from Amex Corporate. The episode digs into Ramp's 'approval chain automation' feature, the unit economics of interchange revenue versus software subscription, and why the company grew 10x in revenue during 2023 without a…
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