In this episode of the Growing the Future Podcast, Wade Barnes, founder of Farmer’s Edge, shares his journey through the highs and lows of building a billion-dollar ag-tech company. He discusses the intense pressures of fundraising, navigating venture capital, and the challenges of going public. Wade reflects on key lessons learned, including the pitfalls of rapid growth, losing control of his company, and his new venture, Ronin. He also offers insights into the future of farm data, AI, and the carbon market.
Wade Barnes says he had about twenty eight million dollars of value on paper the day Farmers Edge went public at seventeen dollars a share. He sold at roughly thirty cents.
This is Part 3, and it is the part he says he had never told publicly before. It covers the fundraising treadmill, the investor who insisted everyone hold the same class of shares, the decision to go public into a market that was screaming for technology listings, and what it felt like to watch the number fall every morning.
What's Inside
- The trap he walked into without seeing it: growth has to be shown to raise again, and spending is how you show growth
- The fork he still thinks about, where he could have stayed a profitable business at a fraction of the size and did not, because he was afraid of being swallowed
- Why the investor everyone warned him about turned out to be the one who insisted on treating every shareholder equally
- The exits he believes were missed, and the tension that comes from an investor who is genuinely committed to the business
- The advice he was given before the listing to leave carbon out of the story, the call from a former investor telling him the opposite, and which one he regrets following
- What it is like to be the seventh most subscribed listing of the year and still watch the share price go one direction
- Where he thinks the real advantage in farm data sits now, and why he does not think it sits with the companies making the loudest claims
- Starting again at 350,000 acres with people he worked with before, deliberately not trying to rebuild what he had
Related Episodes
Wade Barnes Part 1: What Happens When the Data Company Loses the Farmer
Wade Barnes Part 2: competing with Monsanto and John Deere
🎧 Why You Should Listen:
Wade provides an honest look into the pressures of being a tech entrepreneur in agriculture, including what he would have done differently and why he believes a more personal touch with farmers is the key to success. Whether you're in agribusiness, tech, or just love a great entrepreneurial story, this episode is packed with valuable lessons and insights.
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