PlusThis
company on 1 show · 25 statements across 2 episodes · said 35 times in 3 episodes since 2017
Mentions by year, every show
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Top Founders 35
2020 30 mentions in 2 episodes 15 per episode
2017 5 mentions in 1 episode
every mention on every show, scene by scene, with the transcript →
25 statements about PlusThis, every show
Dave Lee Uses PlusThis Profits for Personal Investments and Software Incubation
“Yeah, I look at it as an asset that needs to be diversified, and it goes across a number of different things. Personal investments, real estate the market, EFTs I do a lot of charity stuff, so I give away a significant chunk of it. We do fund things for the em…”
Dave Lee Plans to Keep PlusThis Bootstrapped Despite Exploring Other Ventures
“There are other ventures that, that we're doing and in the process of launching that, that could be a capital raise scenario, but plus this is not that.”
PlusThis Maintains a Fully Weighted Customer Acquisition Cost of Around $250
“About 260 bucks. I'm sorry, no, no, no, that's not right. It's probably, no, that's about right. It's about two 52 52 51.”
PlusThis Acquires Customers Through Marketing Consultants and Platform Marketplaces
“One is working from, with consultants, marketing automation consultants out there that are working with their clients and they become resellers either on a wholesale model or just a referral, like affiliate referral model. We also try to work directly with the…”
PlusThis Achieved an All-Time Low Monthly Churn Rate of 2.9%
“Our churn now is down to 2.9%, which is, we've never seen it that low.”
PlusThis Reduced Monthly Customer Churn From 9.8% to 4.5% Over Years
“When we started the company churn used to be monthly churn used to be about 9.8%. And we worked for years to get that down and we got it down to about four and a half percent monthly churn.”
At Least 20% of PlusThis Monthly MRR Growth Comes From Expansion Revenue
“Of the monthly MRR growth, I would say 20% of it is at least 20% is expansion revenue.”
PlusThis Processes About 50 Million Campaign Transactions Monthly For Its Customers
“So we do on average, we do about fifty million campaign transactions a month for our clients, for our customers.”
Switching to Usage-Based Pricing in 2019 Accelerated PlusThis MRR Growth
“However, during 2019, we did change our model a little bit. Where it is a blend between I guess you could call them levels, but also usage. We went to a more heavily usage-based model, and that has really helped drive MRR as well.”
PlusThis Serves Nearly 3,000 Paying Customers With Over 60 Marketing Tools
“We've got almost 3000 paying customers, and we've got over 60 tools in the toolkit.”
PlusThis Generated $2.1M in 2019 Revenue With Almost 50% Profit Margin
“2019 was a stellar year for us. We broke two million in revenue. So we did 2.1 in revenue. Almost half of which was profit”
Dave Lee says SMB buyers anchor add-on prices to base software costs
“They look at, hey, I'm paying 70 bucks for this platform. I should only have to pay 19 or 29 for a series of add-ons, regardless of how valuable they might be.”
Dave Lee says VCs ignore 40% profit margins to focus on growth
“I do stay in touch with PE firms and VCs and investment bankers And they, you know, they could care less if we're 40% profitable. They really only care about the growth rate right now.”
Plus This is exploring a structured equity partnership to accelerate growth
“We're actually exploring something right now that would get cash in, we'd give up some equity, but think of it as a structured partnership that would then lead us to faster growth and then a larger exit for us.”
Dave Lee says platform customers using add-ons are three times more valuable
“They learn quickly that customers, their customers that have an add-on like ours are three times more valuable as a customer.”
Plus This maintains a fully weighted CAC of about $170
“No, fully weighted CAC is about a 170 bucks.”
Dave Lee says SaaS add-on tools inherit their host platform churn rates
“When it comes down to it, although we have a lot of tools that could be full standalone tools we are really reliant on the platforms. So if Entreport, for example, has a huge turnover and those customers are using plus this as well. That is built in turnover f…”
Plus This reduced monthly revenue churn from 9% to under 5%
“When we started out, we were like at eight, nine percent and then spent a couple of years really driving hard. And it's bottomed out pretty well, right around 4.5 to 4.9%.”
Plus This operates with four support staff, three developers, and one marketer
“Yeah, we've got four kind of on the client love onboarding support side, tech support side. We've got three developers and one marketer.”
Dave Lee: Plus This is 100% bootstrapped with no debt or outside capital
“Bootstrapped, a hundred percent. No debt, no financing.”
Plus This acquires customers by providing free software to marketing consultants
“There are thousands of consultants out there and we give them a free version of our software so that they can play with it and then refer it to their to their clients. So we use them as a channel.”