Everything Michael Mandel said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Mandel: CompStak's customers include Wells Fargo, JP Morgan, and Blackstone
“So our customers are some of the world's largest banks, private equity funds, hedge funds, institutional owners.
So people like Wells Fargo and JP Morgan and Morgan Stanley
we've got, you know, institutional owners like Blackstone, Brookfield, Bornado, Tishma…”
CompStak operates in over 70 commercial real estate markets globally
“We're live in over 70 markets across the US and UK over
900 sub markets in over 8000 cities.”
Mandel: CompStak's average annual contract size is around $50,000
“Around 50,000 dollars.”
Mandel: CompStak founders split equity 50/50 down the middle
“We did split it down the middle.”
Mandel: CompStak has raised around $20M in total funding
“Around twenty million.”
Mandel: CompStak raised $3M in venture debt and paid off half
“We did about three million in venture debt. And why make the decision to do some in venture debt? We've now paid off about half of that.”
CompStak secured a venture debt interest rate of approximately 4.5%
“We're tied at prime. I think we're probably at about four and a half percent right now.”
Mandel: CompStak has nearly 100 enterprise customers
“We're a little shy of a hundred customers now.”
Mandel: CompStak roughly doubled revenue over the past year
“We roughly doubled our revenues over the last year.”
CompStak spends under $1,000 monthly on direct paid advertising
“It's more along the lines of a grand or less. You spend very little on that.”
Mandel: CompStak's customer acquisition cost is roughly $15,000 to $20,000
“Our customer acquisition cost is probably more around, you know, 15 to 20,000 dollars.”
CompStak maintains negative 6% to 8% net ARR churn
“We have, you know, negative six percent or eight percent net, net ARR churn. So we expand our customers at a much higher rate than our customers churn.”
CompStak closed 2012 with $60,000 in revenue from two customers
“I think we probably closed out 20 12 at 60,000 dollars in annual revenue. We, but we actually, that was from basically two customers.”
Co-founder worked full-time for a year while Mandel remained a broker
“Actually my co-founder worked on Comstack for nearly a year, basically full time while I was still working as a broker.”
TOP FOUNDERSLEDGER