From Two Guys to $5M ARR: Pietro Maria Picogna on Building a European Tech Powerhouse

In a recent LinkedIn post, Pietro Maria Picogna, co-founder of Pack, reflects on the company’s journey and its ambitious vision for European leadership in the tech industry. The post, shared following a four-day team retreat in Tuscany, emphasizes the tangible reality of their growth from a nascent startup to a significant player with substantial revenue and a diverse global team.

The Tangible Reality of Startup Growth

Picogna begins by underscoring the transformation of his initial entrepreneurial vision into a concrete business. He contrasts the company’s origins – “two guys, one dream, and a lot of nights and weekends spent obsessed with a problem” – with its current state, boasting nearly 50 employees across multiple countries and achieving over $8 million in funding, with annual recurring revenue approaching $5 million. This evolution, he asserts, is no longer a mere metaphor but a demonstrated fact.

The European Retreat ended 🇪🇺

Four days in Tuscany with the whole Pack team.

Here’s what I told everyone, and what I’m taking with me:

👉 This is real.

Four years ago it was two guys, one dream, and a lot of nights and weekends spent obsessed with a problem. Today we’re almost 50 people, across multiple countries, $8M+ raised, closing in on $5M ARR.

A dream became a company. That’s not a metaphor anymore.

As Pietro Maria Picogna notes, this transition from an abstract idea to a fully-fledged company signifies a critical milestone. He frames the current stage as a pivotal moment, highlighting the rarity of achieving such growth amidst the high failure rate typical of startups.

Chasing the 0.01% Opportunity

The post delves into the extraordinary nature of building a company that not only survives but thrives and potentially reshapes an industry. Picogna points out the stark statistics, stating that “90% of startups fail. 9% survive but never build returns. 0.01% become the companies that change an industry.” He positions Pack’s journey as a testament to already overcoming significant odds and emphasizes the focus required to become one of the exceptional 0.01%.

This could be the opportunity of a lifetime.

90% of startups fail. 9% survive but never build returns. 0.01% become the companies that change an industry – and change the lives of everyone who built them. We’ve already beaten the odds once. Now it’s about becoming one of the 0.01%.

According to Picogna, this ambition drives the company’s strategic direction and internal culture. The pursuit of industry-altering success, he argues, requires a relentless focus on execution and innovation.

Forging a European Identity

A significant theme in Picogna’s post is the deliberate cultivation of a distinctly European identity for the company. He celebrates the diverse origins of the Pack team, listing members from Italy, Spain, Argentina, Ethiopia, France, Belgium, Indonesia, and the US. This international composition, united under a common mission, embodies the values of diversity, democracy, and ambition that Picogna believes define their corporate culture.

We’re building a European company.

Teammates from Italy, Spain, Argentina, Ethiopia, France, Belgium, Indonesia, the US, and more, standing under one flag. Diversity, democracy, ambition – all in one room. That’s the company we’re building.

In Picogna’s view, “Being European is a privilege. Becoming the European leader is a choice.” This statement encapsulates the company’s aspiration to not only succeed within Europe but to set the standard for leadership on the continent. He concludes by reiterating that the foundational elements are in place, and the focus now shifts decisively to execution, signaling a readiness to capitalize on their established momentum.

The post ends with a forward-looking affirmation: “Still day 0 🚀,” suggesting that despite their considerable achievements, the most exciting phase of Pack’s development is yet to come.