The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Savage: Early angel investors held preferred shares with veto power over sales
“Their shares also were preferred shares. And so it meant that they had rights to a board seat. They could block a sale.”
Savage: Wistia's tender offer provided roughly a 20x return to angel investors
“Yeah, I can. So there's the two rounds. There's different returns, but it was around 20 X.”
Savage: Most Wistia employees sold options to join profit sharing
“Most did. So we actually, when we did the offer, what we said was we want to have one incentive structure for everybody. So you can either, you know, hold onto your options, or if you sell your options, you can participate in profit sharing.”
Savage: Wistia swung from -$500K to +$6M EBITDA in one year
“So we had like in 2017, we had negative EBITDA of half a million. And in 2018, we had EBITDA of six million.”
Savage: Wistia reached an $18M revenue run rate in 2017
“Right at the time of the offer, I think we were about, like, an eighteen million dollar run rate or so.”
Savage: Three companies simultaneously offered to acquire Wistia in 2017
“We actually had three companies approach us at the same time that all said, we want to acquire you”
Savage: Wistia raised its first funding round at just $1,500 MRR
“When we raised our first round, our MRR was literally. 1000 dollars or like 1500 bucks.”
Savage: Accel-KKR provided debt financing to Wistia before it was profitable
“And so we worked with Excel KKR to fund the debt and they were willing to write debt against a company that was not profitable. Like we said, we're going to be profitable, but they had a growth fund side of their business.”
Savage: Wistia gained 3 gross margin points after introducing profit-sharing
“So they went and they spent some time and they came back and like we've made some changes. We've reworked how some things are working and we've got us three points of gross margin.”
Savage: Wistia's Average Customer Pays Around $100 per Month
“The average customer is around a hundred dollars a month and it's 25 cents per video per month as you add more videos.”
Savage: Wistia Made $0 in Year One, $13K in Year Two, $150K in Year Three
“Oh, there was no, we basically made no money in the first, in the second we made, like 13,000, and then the third year we made, like, a 150 or something, and it continued to scale at a good pace.”
Savage: Wistia's gross margins are in the 70s, below typical SaaS
“Yeah, I mean, we, not only were we under 80%, but like, we had a stake with the storage stuff, and like, our gross margins were like high seventies and just started precipitously dropping, and I'm like, Basically, if we didn't make a change, we're going to be …”
Savage: Wistia has tens of thousands of paying customers
“We've got tens of thousands of paying customers today.”
Savage: Around 15% of Wistia's new trials come directly from branded players
“The ones that are directly attributable are probably 15%.”
Savage: Wistia account expansion more than offsets customer churn
“Which is nice, and I mean, you know, there's, it's, there's good expansion that comes because, you know, as people use the product more, so that more than offsets it, which is nice.”