Everything Rich Mokuolu said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Mokuolu: Traditional Brokers Upcharge Manufacturing to Inflate GMV
“If that client was to go to anyone else, they would gladly take the 50,000 dollars and maybe even upcharge them to 70,000 dollars to get their GMV higher, right? But it really doesn't serve that customer.”
Mokuolu: Hardware manufacturing brokers take 15% to 25% commissions
“You have manufacturing brokers in the hardware space. And those people take anywhere between 15 to upwards of 25%, right?”
Mokuolu claims InventaPrint has zero customer churn due to selective onboarding
“No churn, actually. Probably that might change in the future, but right now we're, because we're very selective in who we work with, we make sure that we can provide value to people that we're onboarding.”
InventaPrint Case Studies Show Average 75% Manufacturing Cost Reductions
“Right now, the customers that use us, the reason why there's no churn, because we actually represent our case studies show roughly averaging 75% in cost reductions.”
InventaPrint charges a 10% transaction fee to undercut traditional brokers
“So what we do is by using a 10%, we're actually undercutting the broker market, and giving a more cost-competitive solution there.”
InventaPrint targets clients spending at least $1M annually on manufacturing
“Our dollar profile is, you know, for a mid-market company, we really determine it by a million dollars worth of spend a year, and then for the enterprises over that so that's where we kind of target the mid-market enterprise range.”
InventaPrint has built a network of over 100 manufacturers
“So right now we have a network of over a hundred manufacturers.”
InventaPrint generates $100,000 in monthly recurring revenue across 20 customers
“So if you were to multiply again, like five grand per month by 20.”
InventaPrint raised $120,000 from the Techstars accelerator
“Right, so that, a hundred and, a 120 grand.”
Mokuolu: InventaPrint Cut Client's Part Cost from $50k to Under $2k
“A nanotechnology company came to us. It had a 50,000 dollar injection motor part design, and as part of the bidding process, manufacturers in our network not offer, not only offer a price, but they also offer feedback on your design intent, right? So in this c…”
InventaPrint uses a hybrid SaaS and transaction fee business model
“Our model is we're a SaaS Plus company, so we have an annual license fee that hardware companies pay us, and the plus side of things is We get paid on each transaction from the manufacturers.”
InventaPrint founders transitioned to working full-time just three months ago
“We actually just went full-time about three months ago, both of us.”
InventaPrint currently operates with a team of just four people
“So, four team members right now.”
TOP FOUNDERSLEDGER