Hostaway hit a $1B valuation matching Guesty at 20% the price
“Host away all they did, and I asked people in the industry, like, all they did was they just matched the features, did it for, like, 20% of the price. Now they're worth a billion dollars.”
Soto: Average Guesty customer manages 50 properties, ranging up to 2,000
“The average will be a 50 properties property manager. We have as low as five and we have as big as 2000, right?”
Soto: Guesty charges property managers 2% to 5% per reservation
“It's percentage based, as I mentioned... Of the reservation. So each reservation could be a thousand dollars and then you'll pay us somewhere between two and five percent.”
Soto: Guesty raised $20M Series B in April 2019, totaling $25M
“So we were Y Combinator backed back in winter 14 class. And right afterwards we raised 1.6 million as our seed. Then we raised three million as our A and only now we raised twenty million in, in April in series B.”
Soto: Guesty employs almost 200 people
“Almost 200.”
Soto: Guesty relied exclusively on inside sales before opening field offices
“Until now we were only inside sales.”
Soto: Guesty customers grow their property count 5x in year one
“Almost all of our customers, the average they grow in one year is more than five X.”
Soto: Guesty works with over 1,000 property managers
“Over a thousand.”
Soto: Guesty generates almost 50% of web traffic organically
“So we get almost 50% of our traffic through organic.”
Soto: Guesty generates 6x to 30x LTV to CAC returns
“And we found out that we make more than six to sometimes even as much as 30 X on our on our type of customers depends on their size.”
Soto: Guesty's larger customers pay back CAC within one to three months
“So for us, it depends on the size of customers, but the medium and large ones pay back within a month to three months as a late.”
Soto: Guesty manages north of 50,000 properties, approaching 100,000
“Tens of thousands of properties north of 50,000 closer to the hundred ish.”
Soto: Property management software retention requires owner revenue tracking tools
“Whenever you give your own owner a tool that they can see their reservations, they can see how much money they're making, they can log in to change their occupancy or availability of their property, you cannot take that away from them.”
Soto: Guesty experiences 1% to 2% monthly revenue churn
“So we are between one and two percent in months.”
Guesty transitioned through four CRMs before adopting Salesforce
“So we, we've changed four CRMs throughout the life of the company. We started with Streak, then went to Pipedrive, and then went to Close, and then went to Salesforce like everyone else at our size.”