E156 - Adam Theobald, CEO and Co-Founder, Ordermentum

Open the Pod Bay Doors

Our first guest of 2023 is Adam Theobald, CoFounder & CEO of Ordermentum, a double sided marketplace and platform for hospitality suppliers and venues to make orders and payments.

Despite a potentially promising career in cricket and a desire to become a physio, Adam studied Computer Science at university going on to complete a Master degree in Commerce. Beginning his career as a stockbroker focusing on technology stocks, Adam moved into roles with voiceover IP company Freshtell (comparable to Skype) and web-based video conferencing company Parkslide (akin to Zoom). With a love of coffee, Adam founded order ahead app Beat The Queue (since rebranded to Hey You who have recently merged with delivery app Yello).

Ordermentum was born in 2014 with 10 customers signed up - the first being Lion Nathan. Despite the COVID curveball that threatened to all but completely wipe out the entire hospitality industry, the company became a savior to locked down dog walkers ordering coffees.

Ordermentum now boast a hugely profitable business that caters to 35,000 venues (or half of the venues in the country), have 650 suppliers signed up, move over $1billion in G&V and process $400million in payments.

Ian and Adam cover topics including:

• Raises (one of which occurred during the pandemic!)
• Cricket (of course)
• Why he supports in-office in a remote moving world
• The importance of noticing emotional burnout in staff
• Plans to double his workforce in the next 12 months
• The network effect
• How important being part of a community is - Adam is a member of Innovation Bay’s Summit (Series A+ Founder Community)
• And so much more…

Quickfire Round

• Book: Radical Focus, Christina R. Wodtke + Working Backwards (Amazon)
• Podcast: Serial
• News Source: Sydney Morning Herald
• App: Hey You
• Tech CEO: The Hard Thing About Hard Things
• Productivity Tool: Woop
• TV Show: Yellowstone, Line Of Duty
• Ted Talk Topic: Ability to think on three trajectories - running the right balance between a short, medium and long term success trajectory

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