Father and son team John and Tyler Richards — veteran entrepreneurs, venture investors, mentors, and educators — discuss all things entrepreneurship and venture capital.
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Father and son team John and Tyler Richards — veteran entrepreneurs, venture investors, mentors, and educators — discuss all things entrepreneurship and venture capital.
Johnny Hanna: Entrata’s $4B Journey, Homie’s Disruption, and Entrepreneurs Mental Health
Startup Ignition Podcast
59 minutes
2 weeks ago
Johnny Hanna: Entrata’s $4B Journey, Homie’s Disruption, and Entrepreneurs Mental Health
In this episode of the Startup Ignition Podcast, we sit down with Johnny Hanna, a true legend in Utah Tech. Johnny shares his incredible journey from co-founding Property Solutions (now Entrata), a company now valued at $4 billion, to disrupting the real estate industry with Homie, and his latest ventures. He opens up about the challenges of innovation, facing lawsuits from industry giants like Zillow and Yardi, and the emotional toll of entrepreneurial highs and lows. Johnny also offers invaluable advice to aspiring founders on self-belief, managing people, and the importance of relationships in business.
(00:00:00) The cease and desist from Zillow, and why investors advised to "go get sued"
(00:02:06) Johnny Hanna's background and co-founding Property Solutions (now Entrata)
(00:04:07) The early days of Property Solutions, from student venture to major platform
(00:05:52) Property Solutions' initial business model: online rent collection and marketing websites
(00:10:24) The pivotal moments and deals that turned the corner for Property Solutions
(00:11:00) The lawsuit with industry giant Yardi and the emotional toll on founders
(00:15:21) Why Johnny left Property Solutions after 12 years and the transition to Homie
(00:20:34) The disruptive idea behind Homie and the fight against traditional realtors
(00:24:36) The political power and lobbying efforts of realtor associations
(00:28:37) The BYU study showing Homie sold homes faster and for more money
(00:31:20) The Zillow cease and desist and the constant battles with the industry
(00:33:57) The expansion of Homie into mortgages, title insurance, and cash offers
(00:38:07) The impact of rising interest rates on Homie's fundraising and expansion
(00:41:12) Homie's focus on profitability and eventual sale to new ownership
(00:43:11) Johnny's year off and his role as CRO at Funnel
(00:47:42) Joining a Y Combinator company (Corgi/Beagle) and the cultural challenges
(00:49:42) Advice for startup founders: belief in yourself and managing people
(00:51:58) The importance of relationships and caring for employees
(00:53:20) Concluding thoughts and appreciation for Johnny Hanna's insights
(00:55:03) Johnny's advice for startup founders
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Father and son team John and Tyler Richards — veteran entrepreneurs, venture investors, mentors, and educators — discuss all things entrepreneurship and venture capital.
