Building Billion-Dollar Brands in the AI Era | Zeta Global & Cameo Founders 🌍 EP143
Timestamps are as accurate as they can be but may be slightly off. We encourage you to listen to the full context.
Podcast Summary
This Money Mondays podcast features two power-packed interviews from Zeta Live, a major marketing conference. First, host Dan Fleyshman interviews David Steinberg, CEO of Zeta Global, a multibillion-dollar AI-driven marketing platform. (00:05) Steinberg discusses running a public company with 2,200 employees while maintaining work-life balance and shares his recent launch of Athena, a conversational AI super agent that revolutionizes marketing automation. (02:34) The second interview features Steven Galanis, co-founder and CEO of Cameo, who built a marketplace connecting 60,000 celebrities and influencers with fans through personalized video messages. (12:19) Both entrepreneurs share insights on scaling businesses, strategic acquisitions, and the importance of giving back through philanthropy.
- Core Themes: Building scalable tech platforms, strategic leadership in high-growth companies, the intersection of AI and marketing, celebrity monetization platforms, and corporate philanthropy
Speakers
David Steinberg
David Steinberg is a serial entrepreneur who has founded seven companies, sold four, and taken two public. He currently serves as Chairman and CEO of Zeta Global, a multibillion-dollar AI-driven marketing cloud that serves 567 global enterprise clients, including 44% of the Fortune 100 companies. With over 35 years of entrepreneurial experience, Steinberg has built one of the premier artificial intelligence platforms in the marketing space.
Steven Galanis
Steven Galanis is the co-founder and CEO of Cameo, a revolutionary marketplace connecting over 60,000 celebrities, athletes, and influencers with fans through personalized video messages. Based in Chicago and Miami, Galanis conceived the idea at his grandmother's funeral and has spent nine years building the platform. He also hosts the Zeitgeist Podcast, interviewing founders of iconic consumer brands.
Key Takeaways
Build World-Class Teams to Scale Beyond Yourself
David Steinberg emphasizes that success comes from surrounding yourself with exceptional talent. (05:26) His executive leadership team of 14 people could each run their own companies, and his senior leadership team of 67 represents some of the most accomplished executives globally. When you're building a company that affects thousands of employees who "feed their families and build their future based on what we do," the quality of your team becomes paramount. This approach allows leaders to focus on strategic vision while trusting their teams to execute flawlessly.
Create Strategic Acquisition Criteria to Avoid Bad Deals
Zeta Global's disciplined M&A approach involves evaluating 100 companies annually to acquire just one. (08:39) Their five criteria include: full integration within 12 months, cross-selling opportunities, immediate accretion, additional profit synergies, and acquiring incredible talent. Steinberg learned not to pull operating teams off their day jobs for M&A, instead building an internal investment bank. This systematic approach led to their $325 million Marigold acquisition, which added 40 Fortune 500 customers and significant European presence.
Leverage Network Effects and User-Generated Content for Growth
Cameo's explosive growth stems from understanding that 85% of their videos are shared with others. (20:32) When someone receives a Cameo, they immediately share it in group chats and on social media, creating organic marketing. This viral coefficient, combined with their talent referral system where creators get 5% of bookings from people they refer, drove 65% of their lifetime revenue. The lesson: build products that naturally encourage sharing and create incentives for your users to become evangelists.
Price Products Based on Value, Not Competition
Galanis developed a unique pricing formula for Cameo by calculating celebrities' per-minute earnings from their main careers. (23:47) For a $25 million NBA player, they divided salary by 2,000 work hours annually, then by 60 minutes, arriving at $208 per minute. This meant a $100 Cameo taking 30 seconds to create was actually fair compensation. This value-based pricing made the platform accessible to fans while ensuring talent felt appropriately compensated, avoiding the premium pricing trap that killed many competitors.
Timing and Founder-Market Fit Create Competitive Moats
Cameo succeeded where others failed because of perfect timing and unique founder expertise. (21:18) By 2017, selfie videos had become mainstream thanks to Snapchat, and iPhone cameras were high quality enough. Galanis combined marketplace expertise as an ex-options trader with co-founder Martin's entertainment industry connections and Devin's creator background (top 100 Viner with billions of loops). This rare combination of technical ability, industry relationships, and creator understanding created an unmatched competitive advantage.
Statistics & Facts
- Zeta Global serves 567 global enterprise clients, including 44% of the Fortune 100 largest companies in the world. (03:36) This demonstrates the massive scale and enterprise adoption of their AI-driven marketing platform.
- Cameo's marketplace features over 60,000 celebrities, influencers, and creators, with 85% of videos being purchased for other people rather than oneself. (20:32) This sharing behavior drives their viral growth engine.
- Talent referrals on Cameo represent 17% of their marketplace but have generated 65% of their lifetime GMV (Gross Merchandise Value). (17:37) This shows the power of their network effects and referral system in driving high-value customers.
