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TOP FOUNDERS Prediction Partly held up
Britton: Suzy will reach $100M ARR by mid-2025
“We will be there in the middle of 20, 25.”
Matt Britton Jan 30, 2024 ▶ 9:09 Suzy.com did $65m Revenue Last Year. 18% was services so how did he keep 75% gross margin?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy maintains a 75% blended gross margin despite including services
“Our gross margins are 75%. Blend it, including the services which really shows you that we really are running a SaaS business and not a tech-enabled service business, which traditionally runs in the mid to low sixties.”
Matt Britton Jan 30, 2024 ▶ 11:02 Suzy.com did $65m Revenue Last Year. 18% was services so how did he keep 75% gross margin?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Programmatic audience providers frequently deliver survey responses from bots
“When people try to buy an audience to respond to a survey from a programmatic audience provider, what they often find is it's a lot of bots that are answering the questions.”
Matt Britton Dec 20, 2022 ▶ 3:42 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy had $20M to $25M net burn in 2021
“No, closer to twenty-twenty-five million.”
Matt Britton Dec 20, 2022 ▶ 11:25 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Prediction Not checkable as stated
Britton: Suzy expects to reach cash-flow positivity by Q4 2023
“And in that regard, we expect to be cashflow positive fourth quarter Next year.”
Matt Britton Dec 20, 2022 ▶ 12:05 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Prediction Not checkable as stated
Britton: Suzy will reach high $80M to low $90M ARR by late 2023
“We'll, we'll be in the high eighties to low nineties a year from now.”
Matt Britton Dec 20, 2022 ▶ 15:04 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Prediction Didn’t hold up
Britton: Suzy will likely IPO in two to three years at around $200M ARR
“So who knows what, when we'd be able to IPO, I would say likely in the next two to three years, but probably closer than we're at two hundred million ARR versus a hundred.”
Matt Britton Dec 20, 2022 ▶ 15:28 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Assertion Contradicted
Britton: All market research competitors must buy users from programmatic platforms
“We own the app. We own the brand. We own the users. Every other company actually has to buy users from a programmatic audience platform. If they want to provide an audience, we were almost, we have a vertical model.”
Matt Britton Aug 30, 2021 ▶ 15:56 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Prediction Not checkable as stated
Matt Britton: Influencer marketing will never become fully programmatic software
“Influencer marketing, in my opinion, is never going to become a fully programmatic software solution.”
Matt Britton Feb 3, 2018 ▶ 5:01 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
TOP FOUNDERS Prediction Not checkable as stated
Britton: TV and digital convergence will return power to ad agencies
“When TV and digital come full circle, it's going to go right back into the hands of the agencies and it's already starting to go in that direction as everything kind of starts to shake out in that space.”
Matt Britton Feb 3, 2018 ▶ 17:42 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
TOP FOUNDERS Assertion Supported
Britton: Qualtrics holds less than 2% of the $80B research market
“Qualtrics is a 1.2 billion dollar revenue company in an eighty billion dollar market. So you're looking at less than two percent market share for the leading digital player in the research space.”
Matt Britton Jan 30, 2024 ▶ 6:49 Suzy.com did $65m Revenue Last Year. 18% was services so how did he keep 75% gross margin?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy achieved nearly 130% net revenue retention in its enterprise segment
“We ended this year close to a 130% net revenue retention within the enterprise and enterprise defined by that two billion plus number, or I think it's one and a half. I can't remember the last definition we had. It's about 80% of our business. So we have that …”
Matt Britton Jan 30, 2024 ▶ 11:48 Suzy.com did $65m Revenue Last Year. 18% was services so how did he keep 75% gross margin?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy maintains 96% enterprise logo retention and low-80s GRR
“If you're looking at gross revenue retention in the pure sense we're probably in the low eighties and definitely higher within the enterprise. However, our logo retention with the enterprise is 96%.”
Matt Britton Jan 30, 2024 ▶ 13:21 Suzy.com did $65m Revenue Last Year. 18% was services so how did he keep 75% gross margin?
TOP FOUNDERS Prediction Not checkable as stated
Britton: Suzy will burn under $10M in 2024, achieving cashflow positivity
“We ended at a run rate closer to burning a million a month. And we're going to be sub ten million burn in 20, 24, and then cashflow positive in 20, 25.”
Matt Britton Jan 30, 2024 ▶ 15:28 Suzy.com did $65m Revenue Last Year. 18% was services so how did he keep 75% gross margin?
TOP FOUNDERS Assertion Not checkable as stated
Suzy spends 10-15% on panel rewards with 70% gross margins
“It's exactly 10 to 15%. However, we're able to really maintain the overall gross margin profile in the mid to low seventies.”
Matt Britton Dec 20, 2022 ▶ 5:18 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy's average customer pays $150,000 per year
“So a 150,000 a year. So I guess it's about 12,013 thousand a month.”
Matt Britton Dec 20, 2022 ▶ 6:59 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Assertion Not checkable as stated
Britton: Most market research tools cannot re-engage respondents without owned panels
“Most online market research tools do not have their own audience. So they can't keep going back to the same person. If they're buying a third party audience, they'll answer a question. They'll never see that person again.”
Matt Britton Dec 20, 2022 ▶ 13:51 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Prediction Not checkable as stated
Britton: Suzy at $100M ARR Will Have $250k–$400k ACV
“And I see our company at a hundred million ARR having a 250,002 400,000 ACV and, you know, maybe even having less customers”
Matt Britton Aug 30, 2021 ▶ 7:06 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy's Large Customers Have 145% NRR vs 58% for Small Ones
“The big company, big spend companies do about a 145% net revenue retention, while the small company, small spend companies do about 58% net revenue retention.”
Matt Britton Aug 30, 2021 ▶ 7:24 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Supported
Matt Britton: No influencer marketing startup has sold for $50M
“There hasn't been one influencer marketing company that sold for fifty million dollars”
Matt Britton Feb 3, 2018 ▶ 5:09 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
TOP FOUNDERS Assertion Not checkable as stated
Britton: CrowdTap Revenue Growth Tailed Off as Market Caught Up
“The growth of the company definitely tailed off because the market caught up with crowd tap and the influencer space.”
Matt Britton Feb 3, 2018 ▶ 11:59 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy generated mid-$60M in revenue during 2023
“A little lower than that, in the mid sixties.”
Matt Britton Jan 30, 2024 ▶ 9:16 Suzy.com did $65m Revenue Last Year. 18% was services so how did he keep 75% gross margin?
TOP FOUNDERS Prediction Not checkable as stated
Britton: Suzy expects to grow revenue by 30% to 32% in 2024
“We're going to grow about 30% this year. Maybe 32%.”
Matt Britton Jan 30, 2024 ▶ 11:25 Suzy.com did $65m Revenue Last Year. 18% was services so how did he keep 75% gross margin?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy's CrowdTap has 1M registered users and 50k-100k MAUs
“You're talking about our CrowdTap consumer panel which we have a million registered users on, and on a monthly basis, you are correct, it's anywhere between 50 and a 100,000.”
Matt Britton Dec 20, 2022 ▶ 3:23 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy serves 400 large enterprise customers
“We have 400 large enterprises that are working with us today.”
Matt Britton Dec 20, 2022 ▶ 9:57 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Assertion Not checkable as stated
Suzy spent up to 65% of revenue on R&D catching Qualtrics
“Adds peak R and D was 60, 65% of revenue because we had to catch up the Qualtrics, right?”
Matt Britton Dec 20, 2022 ▶ 11:39 He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy has grown to about 350 enterprise customers
“We're about three 50.”
Matt Britton Aug 30, 2021 ▶ 3:27 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy splits 18 quota-carrying reps into 11 net new and 7 expansion
“Seven are on the expansion team right now and 11 are on the net new.”
Matt Britton Aug 30, 2021 ▶ 5:16 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy's ARR growth is 60% net new and 40% expansion
“And we've got a sixty-forty mix in terms of our revenue AR growth each year net news, 60%, 40% expansion.”
Matt Britton Aug 30, 2021 ▶ 5:21 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy's Average Contract Value Reached $110k
“So you're talking about 65,000. Right now it's at 110,000.”
Matt Britton Aug 30, 2021 ▶ 6:52 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Prediction Not checkable as stated
Britton: Suzy's 2021 ARR Will Be Between $35M and $45M
“So our ARR is, is, you know, this year going to be, Between 35 and forty-five million.”
Matt Britton Aug 30, 2021 ▶ 8:04 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Suzy maintains a burn-to-new-ARR ratio above one-to-one
“We do above a one-to-one ratio of annual burn to new ARR.”
Matt Britton Aug 30, 2021 ▶ 9:19 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Supported
Britton: Suzy's clients include P&G, J&J, Microsoft, and Coca-Cola
“Our clients are Procter & Gamble, Johnson & Johnson, Microsoft, you know, Coca-Cola, you know, we have blue chip companies who aren't going to go away.”
Matt Britton Aug 30, 2021 ▶ 11:05 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy can secure debt financing at around 8% interest
“Fairly cheap. I mean, it depends on how you define cheap. I mean, it's not credit card debt. You're looking at probably eight percent. We can do that, especially with the cash on our balance sheet.”
Matt Britton Aug 30, 2021 ▶ 14:25 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy's Crowdtap has 1.4M registered and 50k-100k monthly active users
“So we have 1.4 million registered users of CrowdTap that are on gamified apps on both iOS and Android on a monthly basis. You know, you have anywhere between 50 to a 100,000 that are active in some way, shape, and form because they're targeted by our clients b…”
Matt Britton Aug 30, 2021 ▶ 14:57 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Consumer gift rewards cost Suzy 10% to 15% of revenue
“It comes out to around 10 to 15% of our revenue. That's our biggest line item in COGS.”
Matt Britton Aug 30, 2021 ▶ 15:30 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy operates with gross margins in the mid-70s
“Well, I mean, I look at it, what's the gross margin of our company and our gross margins are in the mid seventies, which is good for SAS.”
Matt Britton Aug 30, 2021 ▶ 15:37 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy Received Inbound Acquisition Offers of 10x to 12x ARR
“We've had people throw around, you know, between 10 to 12 times revenue. Not recently because we haven't even entertained the ARR rather, but we haven't even entertained the offers as of late.”
Matt Britton Aug 30, 2021 ▶ 17:47 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Not publicly verifiable
Britton Clarifies CrowdTap Did $16.5M in Total 2014 Revenue, Not ARR
“Well, 16.5 million in revenue.”
Matt Britton Feb 3, 2018 ▶ 8:06 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy has about 75 enterprise customers licensing its platform
“About 75 enterprise customers who are licensing the product from us”
Matt Britton Feb 3, 2018 ▶ 13:43 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
TOP FOUNDERS Assertion Not checkable as stated
Britton: Suzy MRR is way above $200K
“Oh, we're way above 200 grand.”
Matt Britton Feb 3, 2018 ▶ 14:34 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
TOP FOUNDERS Prediction Not checkable as stated
Britton: Suzy will probably not break $1M MRR by year-end
“By the end of this year, probably not, but we're well in our way.”
Matt Britton Feb 3, 2018 ▶ 14:46 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
TOP FOUNDERS Assertion Supported
Britton: Sold MRY agency for $50 million
“I sold the agency for fifty million.”
Matt Britton Aug 30, 2021 ▶ 13:22 CPG User Research SaaS Suzy Hits $40m ARR, Flirts with $500m Valuation, IPO Next?
TOP FOUNDERS Assertion Partly supported
Britton: CrowdTap's first venture round was about $6 million
“Our first round was, I believe, six million.”
Matt Britton Feb 3, 2018 ▶ 3:25 924 How to Spin a Million Dollar SaaS Company Out of Media Agency
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