Maslow in La Nacion: The New Company from Former Taringa CEO
La Nacion published a profile on how Matias Botbol, former CEO of Taringa, launched Maslow to revolutionize employee benefits in Latin America.
Article published in La Nación on July 24, 2024.
The new company from the former CEO of the successful site Taringa
Matías Botbol, founder of Taringa!, the social network with 76 million active users per month, and Diego Boryszanski, founder of Fulljaus, a software company that helped businesses sell their own or third-party products on major sales channels, faced a problem common to any tech company in Argentina: talent retention. Along that journey, they met Ricardo Migoya, who had worked in the HR industry for 20 years and understood the problem.
"That's when we understood something fundamental: each person has different needs and these needs change as their lives evolve. Offering a one-size-fits-all solution was not only inefficient, but it also only satisfied a few people for a very short period of time," the founders say.
That's how Maslow was born, a technology platform designed to optimize the management of benefits, incentives, and rewards globally, personalizing offerings and improving operational efficiency. Today it has more than 50 clients (including Manpower, L'Oréal, Uber, Amazon, and KFC) and reaches 25 countries, including Brazil, Mexico, Bolivia, Chile, Colombia, Argentina, the U.S., Spain, Portugal, and Germany, among many others.
What started as a solution to an internal problem, focused on a very specific niche like software development, quickly became an opportunity to help companies around the world and across any sector care for their most valuable asset: their people.
"When we started, we focused on software companies with people distributed around the world, but we realized that large companies with different generations and needs, spread across any territory, had the same problem but much more severe, with bureaucratic processes for working with different providers that made it impossible to cover those needs and very diverse audiences," they explain about the platform that is now used by more than 10,000 users and offers more than 5,000 benefits across Latin America.
The business model
"The core of our business is providing a flexible benefits solution for large companies. Maslow allows each person, anywhere in the world, to receive exactly what they need to feel valued and motivated. Our platform centralizes benefits management, solving administrative, operational, and logistical complexities, so companies can offer personalized benefits efficiently and effectively, aligning their corporate objectives with the authentic well-being of their people," say the entrepreneurs.
The business model is based on offering a SaaS (Software as a Service) solution. Companies subscribe to the platform, paying a fee per employee, which gives them access to a set of tools to customize and manage their team's benefits globally. "Additionally, we offer extra features like credit purchasing and provider integration, allowing companies to manage everything from a single place," they add.
A differentiating factor is the partnerships team, which works with companies to add the benefits that truly matter to them and deliver value to their employees. "We have incredible cases like clients who wanted to launch with the coffee shop on the corner of their main office, so our partnerships team secured that partner in record time and we were able to launch with a usage rate of over 90%."
Investment and growth
The initial investment in Maslow was $100,000 from the investment fund Newtopia. This allowed them to develop and launch the platform to market. Later, investors like Bdev Ventures and Leandro Sigman joined, and they raised around $1 million. By the end of the first quarter of 2025, they project opening a Series A.
"We're projecting to reach an ARR (Annual Recurring Revenue) of more than $3 million by the end of this year, with exponential growth in the coming years," say the founders of the company, which has a team of 25 employees and has already impacted more than 20,000 active users in over 10 countries.
"We're focused on continuing to grow throughout Latin America, taking our platform to new heights. We want every large company in the region to have access to the solution. As a technology company, we're passionate about continuing to innovate. That's why we're committed to continuing to develop the future of flexible benefits. Additionally, we'll keep expanding our network of local partners to guarantee the best service, localized and close to our clients, bringing the flavor of each culture and market," the entrepreneurs anticipate.