Join us on this week's episode of the Slice of Finance podcast, hosted by Jared S. Taylor! Our Guest: Bobby Pinero, Co-Founder & CEO at Equals.

What you’ll get out of this episode:

• Bobby Pinero’s journey from Intercom analyst to CEO of Equals.

• How Equals aims to simplify financial modeling for spreadsheet lovers.

• The challenges of creating user-friendly live data connections in Equals.

• Lessons learned from introducing a freemium model and pivoting back.

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From Frustration to Innovation: The Birth of Equals

Bobby Pinero, the CEO and co-founder of Equals, has a deep-rooted background in finance and analysis, spending over a decade in roles where he encountered and tested numerous data tools. His dissatisfaction with existing BI tools and out-of-the-box reporting solutions inspired the creation of Equals. The frustration stemmed from the tools' inability to keep him within the spreadsheet environment, which he considered the ultimate tool for modeling and analysis. This experience laid the foundation for Equals, a financial modeling software designed to empower users by keeping them in the familiar and powerful environment of spreadsheets.

The Challenge of Live Data Connections

One of Equals' standout features is its live data connections, which fundamentally transform how analysts work with spreadsheets. Pinero faced significant challenges in making these connections user-friendly and reliable. A major hurdle was the diverse structure of data across different businesses, requiring Equals to adapt and ensure that users could easily access and work with their data in a meaningful way. Through extensive user interviews and hands-on onboarding, the Equals team refined these connections, allowing users to pull data from multiple sources seamlessly into their spreadsheets.

Lessons from a Pricing Experiment: The Freemium Model

In an attempt to follow the paths of successful companies like Notion and Canva, Pinero introduced a freemium model for Equals. However, the experiment did not go as planned. Despite increased sign-ups, the conversion rate struggled, and the top-of-funnel traffic didn’t match expectations. After nine months of trial and error, the company reverted to its original pricing model, requiring payment upfront and focusing on manual onboarding. This pivot not only stabilized the business but also highlighted the importance of understanding customer needs before scaling.

The Role of Equals in the Future of Financial Modeling

Looking ahead, Bobby Pinero envisions Equals playing a pivotal role in the evolution of financial modeling and forecasting. He emphasizes the art of modeling, which he believes cannot be fully automated due to its inherent need for human insight and contextual understanding. Equals aims to enhance the modeling process by making it more efficient and enjoyable, while finance teams increasingly take on strategic roles within organizations. Pinero’s vision for the future of finance professionals is clear: they must evolve into strategic partners, deeply understanding the business and contributing to its growth through informed, data-driven insights.

With this forward-thinking approach, Equals is positioned to be a key tool in the hands of finance professionals who want to combine the best of traditional modeling with the power of modern technology.

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