QuestionPro

“We plug a hole for QuestionPro because they didn't have a tool to pull a lot of their different products and tools together. And they fill a lot of little holes for us because they have the tools that we normally use on the consulting side of the business.”

“Probably four months of up and back, with a couple of little halts in the middle we came to an agreement, and we sold the intellectual property of the consulting firm to Sweet CX, and then the team at Question Pro purchased Sweet CX. So that was back in Octobe…”

“And in the meantime, we got a whale of a client one that had been our client for a couple of years. Doubled again what they had been doing from a functional perspective with us, and I think our contract was 550,000.”

“We're expected to do between 1.8 and two million.”

“What we actually did, interestingly enough, is a couple of my shareholders said that they would waive their shares so that we could then pump those up a little bit. And the two founders who did most of the work, my CTO and myself, we get a little bit of a bump…”

“Well, because we did an installment sale.”

“Because he wanted an asset deal, because he can write a hundred percent of the cost of the company down and immediately in year one.”

“The first time I did it, I did not rewrite the platform. I rewrite their code base and I, that's, in fact in long term, a huge mistake, right? So because now you have multiple code bases, and my team doesn't want to work on better, and there's all this, all th…”

“So I think it was, it ended up being two X with some kickers, if, you know, if it could go up all the way to three X if certain, kind of, obviously, benchmarks are met.”

“Little less than 700 and change, I think. Right. 700 and change was my exposure.”

“Honestly, I think I've never, ever kind of not paid an earnout.”

“Well, the target is 40, so let's see. ... My expectation is 80, at least 80% of that is going to be organic, maybe 20%, you know, M&A, but, you know, yeah, maybe 80, 20 is kind of the benchmark that I would foot.”

“We kind of have an internal kind of like benchmark of a five X, simply put, right? It's not 10, it's not three either, realistically. That's the way we kind of like think about ourselves.”

“I think the kind of like the trigger is in the 60, 70 range where people can look at that and say, like, can we get this to 203 104 hundred, really, right? And that's a linear argument. I mean, it's still a pretty, Pretty big lift, but it's a linear argument, …”

“Guys, questionpro.com finished twenty-twenty-two at a thirty million run rate up from twenty million back in 2019. He's bought five companies and done this all organically in bootstraps since launching in 2005.”

“I did that quite a bit in the first part, which I said, like, I never said no to any feature, right? Anybody said that they wanted something, I said, I'll get it done. Really, right? Will you buy it? And I was just like on the spot. I've done deals where like,…”

“So that gives you, kind of, how much we grew in the last couple of years. We almost nine-xed our traffic.”

“From 2005 to 2009, we got to four million bucks. Then we got stuck over there, right? For almost four years, I got stuck. I mean, now we were four to 4.2 to 4.3 and then eventually kind of 6.5, and so it's, and then we got from 6.5 to 10.”

“You can hire founders by just acquiring their companies, simply put, right? Smaller companies that they, they're kind of either exhausted, or, They are looking, they just need more, they're not able to get beyond the one million dollar ARR function.”

“So it was making three and a half million bucks. I said, well, I'm not going to pay anything for this. So I typed in that email and I just put an offer letter on my iPhone, and I offered them 800 grand. And they came back and said, would you do one million? I'…”

“Ah, so we started off at a hundred grand, and now it's four and a half million bucks. Just out of Latin America. Not just Mexico, but all of Latin America. Mexico, that includes Brazil and everything else, really, right?”

“And that thing is gonna hit ten million bucks. I'm guaranteeing you that.”

“In Dubai, we can beat out Qualtrics and Medallia very, very easily, because we walk into the door and say, hey, look, we are right here. You know, enterprise sales is largely about, hey, you work on Sundays, we work on Sundays.”

“So, so when you start getting to this kind of scale, we just have to have more product to sell to the same buyer, and we round it out, and we, I call it the share a wallet model, so, you know, that's how we do it.”

“Whatever price tag you give, you can divide it between what you pay today, and what you pay tomorrow, and what you pay the day after. And whatever you pay tomorrow and the day after usually has some contingencies, right? If you think about it, like, yeah, I me…”

“The only, my, only thing that really matters is like, dude, how much are you going to pay? That's it, right? So get that conversation, at least that's what I do, get that conversation out of the way first. And then start worrying about the diligence and everyt…”

“The enterprise is about 800 customers and non-enterprise about 4000 customers.”

“So the error for this calendar year will be in the 18 to twenty million dollar range.”

“So we are going at about 30, 30, 35%.”

“I mean, I think 90% of it is SAS revenue. We do a little bit of services for our enterprise clients.”

“Even today we run at about, you know, 15 to 20% margins.”

“We grow accounts by about 30% effectively. Our goal is to grow every account by about 30%.”

“If you look, if you ask me, like, okay, we made twenty million bucks, out of which I would say fifteen million dollars was from the enterprise business and five million from the non-enterprise business, realistically.”

“So, yeah, I mean, I think our kind of cat approximately is, and I think our analysis is somewhere in the six to 8000 dollar range, you know, in terms of getting people into the door.”

“A lot of our work is through SEO and you know, that's kind of, that has been our driver for our business for a long, long time.”

“So we have a lot of information. So we, about, we convert about two percent to two and a half percent. So we're not converting at 10%. We're converting at two percent.”

“You know, on this side, I'm making about three to 400 bucks a pop, and that side, we're making 12 grand a pop, realistically, right?”

“We're in talks with a couple of private equity firms to help us kind of scale up from twenty million to a hundred million.”

“We have a couple of, you know, five million bucks in the bank, frankly, at this point to do deals of our own, but we want it, we want somebody with, like, a little bigger, bigger kind of checkbook that can help us, you know, frankly, acquire revenue at a much …”

“I think at that rate, they're very likely most of, most folks want to have some control premium. So they'll, they'll want us to control at least 50, 60% of the company.”

“There's tons of deals I'm seeing right now where companies are doing exactly what you're doing, but they're only like when you buy a house, they're only fronting 10% of the equity. So you're going to get, let's see, you could work with a debt firm right now an…”