Question 1

What parties contributed to your revenue jump the last 3 months when the company has been around since 2011 and seems to not be getting much traction? I've seen a lot of instances where all of a sudden the graph looks up and to the right right before a fundraising round but dr...

Accepted Answer

Thanks Christian for the question. I appreciate it, but I'd hope you give us the benefit of the doubt before saying that we're faking our traction. To give you some perspective, we've actually been around as a side project since 2010 so we've been around even before 2011. Both my co-founder and I had other jobs at the same time, so this was more a labor of love. Last summer (April 2013), we got our first investor money when we entered the 500 Startups program. This also coincided with two maj...

Question 2

@Kevin. Fudging/faking never crossed my mind. Was thinking along the lines of a strong push to increase revenue by pressing on the marketing gas pedal or new partnerships that came online (hence my question "what parties contributed"). Nothing wrong with that but part of any p...

Accepted Answer

Makes sense... Just let me know if I can clear up anything else, but we didn't game anything, we just got smart about how we get customers while keeping our CPA below LTV.

Question 3

what stake do you get on a investment of 100k

Accepted Answer

We're using a SAFE note so this isn't an equity round per se, but at our current valuation of $10M, putting in $100k will eventually convert to 1% of the company. We were valued at $5m about 6 months ago, so we are growing very quickly and thus our valuation is rising. If you're interested, it's best to get in now before we close the round off, as the next opportunity will be our Series A early next year at a much much higher valuation.

Question 4

Hello @Kevin, As an IT guy who started out in IT working for the Geek Squad and seeing the horrible way customers were treated and the lack of good service I think that this is a fantastic idea. I just had a couple of questions about the capital you are raising: 1) Are you pla...

Accepted Answer

@Thomas, Thanks so much for the kind words, I appreciate it! 1) Yes! We have a build that is close to being a release candidate, so there will definitely be an app soon in the Play Store within the next 2-3 weeks hopefully. 2) Absolutely. Though we have traditionally been very B2C with a capital C, we are expanding to small business and enterprise offerings which you can already see from our website offerings. Our next step is to offer a tech support ordering platform via portal or even poten...

Question 5

Where did June come in from a gross (and net) revenue perspective?

Accepted Answer

$136.2k gross, 27% effective margin.

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