Everything Connor Gillivan said on any show that made the record, most notable first. Each card names its show and opens the statement there.
FreeeUp pays 50% of earnings to founders, reinvesting only 25%
“For any of that 20% that we're earning we usually take about half of it and pay ourselves out, put another quarter of it into actually regrowing the company, and then put the rest of the quarter into kind of a cash reserve so that we can make sure that the com…”
Gillivan: Amazon business netted 5% to 10% profit on $20M sales
“So we make about 20 to 30% gross profit margins off of that twenty million dollars in sales. And then usually net profits end up being between five and 10%, depending on how we actually use the gross profits to pay employees and do other things to grow the sto…”
Gillivan: FreeeUp processes $60,000 to $80,000 weekly in total volume
“We're doing between 60 and 80,000 dollars in revenue per week.”
Gillivan: FreeeUp has 1,500+ signups and 300-500 weekly billing clients
“So we have over 1500 people signed up to the platform now, and then on a weekly basis we're billing between 305 hundred people who are actually using our workers.”
Gillivan: FreeeUp and prior Amazon business are completely bootstrapped
“Totally bootstrapped. Both businesses.”
FreeeUp projects $3M to $4M in 2017 gross volume at 20% take
“That's between three and four top line. So then again, take 20% of that, and they'll give you what the company's actually earning.”
Gillivan: FreeeUp grew revenue roughly 1,000% from April 2016 to April 2017
“So, and so since last April and this is based off our revenue, we've grown at about a thousand percent to this April.”
Gillivan: Amazon business generates $1M to $2M annually with 10 freelancers
“So right now, the company still operates. We're doing between one and two million dollars in revenue per year, and we have a team of about 10 people located around the world, just freelancers experts within different aspects of running Amazon stores, who are h…”
Gillivan: FreeeUp focuses on e-commerce and marketing, unlike Toptal
“TopTal is more focused on your higher level developer and designer. Our workers are more specialized within e-commerce business operations, and then also digital marketing.”
Gillivan: FreeeUp has over 500 active billing freelancers
“So we have, right now we have over 500 freelancers in the network who are billing hours on a regular basis.”
Gillivan: FreeeUp averages around $10 per hour across all billing
“It's around 10 dollars per hour right now. I'm pretty sure that's what our average is.”
FreeeUp pays clients a 50-cent-per-hour perpetual royalty on referrals
“So a big thing that we do is we have a pretty awesome referral program where our, all of our clients can refer, free up out to their network or out to other people, and they receive 50 cents for every single hour that's billed to anyone that they refer.”
Top Founders 4