Question 1

I have been a prolific user of the UpCounsel platform since its beginning, and it has been instrumental in helping me grow my legal practice and provide legal services to both individual and corporate clients. In total, I have obtained over 1,000 new clients through UpCounsel,...

Accepted Answer

Thanks, Seth! Love hearing how valuable UpCounsel has been for you, and look forward to continuing to drive more value for you in the future! We’re stoked to have you onboard.

Question 2

What is your expected growth in the next 3 years? How do you see the business getting there?

Accepted Answer

Hi Daniel, thanks for asking. We are forecasting approximately doubling the revenues annually over the next three years, with $22.4M being the end of 2024 target. This coming year we are focused on three things: 1) Rolling out new offerings to both the attorney and client sides of the marketplace. For attorneys we will have additional marketing programs/plans to increase their revenues and sharpen their client acquisition, and on the client side we are launching corporate subscription plans t...

Question 3

How has UpCounsel been affected during the pandemic? Did business slow down and if so, why?

Accepted Answer

Hi Michael, great question. When we took over the business we didn’t know how it would perform in a down economy and prepared for the worst, but we’ve been very happy to see how it fared. Besides a 5% slower April for jobs posted, we did not see a pandemic-related slowdown. We launched our attorney subscriptions at the height of the pandemic (June/July 2020) at a high price point, and sold out all of the initial spots we opened within a couple of weeks. We actually bought the company right at...

Question 4

How much does is cost you to acquire a customer?

Accepted Answer

Hi Cody, I’m glad you asked! Since UpCounsel’s traffic is 100% organic, we spend absolutely nothing to acquire a customer. The UpCounsel website is an organic traffic engine that includes 10,000+ highly detailed legal articles which consistently rank on the first page for a huge number of legal-related search terms. We spend a small amount each month to maintain our pages, but we recently decided to double down and invest more in SEO. So far that’s been paying incredible dividends -- our traf...

Question 5

It was my understanding that most jurisdictions still do not allow non-lawyers to own law firms and also prohibit the splitting of fees with such. Bearing in mind that UpCounsel intends to establish its own full-service law firm, I had a few questions: 1) Can you share which j...

Accepted Answer

Hi Kevin, thanks for your great questions. For competitive reasons we aren’t talking about our strategy publicly, but I’m happy to discuss it privately. You can email me at kj at upcounsel.com to find a time!

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