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Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.
Their wordsUnlike competitors, Ramp approached building the card business as a software problem and approached every function as a product. A famous example of this was having the support team report to the CPO. Every inbound customer service contact was an implicit product failure and should be solved with product first.
Our reading
Growth and marketing should be run like a tech org, with scalable and rigorous experimentation.
Their wordsGrowth and Marketing were also run like a tech org, focused on scalable and rigorous experimentation. We cross allocated resources across growth product and marketing, held everyone to the same sprint cycles and similar KPI’s.
Their wordsCorporate cards are a lending business at their heart. You make ~1% of GMV in gross margin and if you 1 out of 100 customers default, that wipes out your profit on the entire 100.
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