Everything Dr. Lindy Ledohowski said on any show that made the record, most notable first. Each card names its show and opens the statement there.
EssayJack founders injected a $1M USD shareholder loan to start the company
“Right now we're looking at it's about a million USD has gone in to get us up and off the ground. So the total share, the total equity in the company to get us from sort of Hey, this is an idea. Let's get going. It's about 1.5 million USD.”
EssayJack expects its seed round to price at an $8M pre-money valuation
“Yeah, so it'll, to be honest, it'll probably be in the ballpark of around an eight million USD, you know, give or take.”
EssayJack's revenue shifted from 90% institutional to 50-50 B2B/B2C in 2020
“So this year, it's a little bit more of a fifty-fifty split between our B to C or the direct to consumer and B to B, which is the institution. But in previous years, it's been more of like a ninety-tenth Between institutions being the 90% and 10% being individ…”
EssayJack raised $500k CAD from friends and family
“Then we raised 500,000 Canadian from friends and family, so that was about 350,000 USD at the time”
EssayJack has over 30,000 monthly active student users
“So over 30,000 students on a monthly basis are active users.”
EssayJack has roughly 1,000 direct-to-consumer monthly subscribers
“So our monthly individual subscriber is, I think around a thousand-ish”
In-person writing workshops converted 65% of attendees into EssayJack trials
“And then from that, we'd have, at that point, we'd have sort of 65% of the people who are in that workshop sign up. For an essay Jack trial immediately”
EssayJack is raising a $2M USD seed round
“We're raising two million USD, and this is our seed.”
EssayJack's founder loans will only be repaid at an exit
“The expectation in terms of payback of that shareholder loan is like at an exit. So the intention is to fuel growth”
EssayJack student subscriber annual churn is roughly 50%
“Yeah, it's about 50% right now, but as I say, it's like, we really started rolling out.”
EssayJack charges direct-to-consumer students $9.99 monthly or $99.99 annually
“If it's just a student straight up, they're paying nine 99 a month, or they're paying 99 99 a year.”
EssayJack operates with zero marketing budget and a two-person team
“So we have essentially a kind of nothing marketing budget. And so it's myself and one other person, and we're out there sort of slogging.”
EssayJack operates with a six-person team including three developers
“So right now it's myself and five other people. So there's six of us. So we've got a product owner. And so he kind of straddles the line between the tech and the business side. There's one girl who helps me with the marketing client support Everything that's n…”
EssayJack individual subscribers typically stay for one to two years
“Typically we're seeing sort of a year or two ends up being the kind of duration of how long they stick with EssayJack.”