The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 23 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Founders should never start a company with a backup plan
“I also believe that nobody should come with a plan B in mind, right? When you are coming with a plan B, you are not fully into it. That basically already in your mind, you have a thought that it will fail, and if this fails, I will go back, and so on, so forth…”
Entrepreneurs should start their companies in their mid-thirties
“If I have a choice I would always suggest people to do it, perhaps in mid-thirties and not later than that, because that's where you perhaps could be at best, and you have two, three times to fail if you need more time, right? At this age, when you do it, if y…”
BetterPlace can average ₹5 crore annually from its top 80 customers
“If I look at top, let's say, 80 customers, we can do almost five crore rupees on an average yearly revenue with them, right?”
Blue-collar SaaS yields ₹7,000 annually per worker in India
“You can do roughly 7000 rupees per person per year revenue, and if you have 15 crore people, You're talking about billions of money in revenue, right?”
BetterPlace runs its day-to-day operations profitably without burning cash
“So in principle, we are always we don't burn much money the burn that we do is only coming in our investment, not for running the business, right? Running the business we run in profitability, right?”
Manually reconciling blue-collar attendance takes organizations a full month
“Because if you do attendance through manually, the reconciliation of attendance takes a month, right?”
BetterPlace would be a unicorn today if its clients were American
“If I work with 20 lakh people, and if I do the same thing in US with 20 lakh people, I will be valued more than a billion dollars already, right? Because the size of the company and the multiple that you can get, right? Here it will be lesser.”
Workforce management SaaS is the key to building blue-collar data platforms
“And while doing the research, we realized that the biggest challenge is building the data about those individuals, right? And that's where the genesis of workforce management solution came in. So what we do is that we provide the workforce management solution.…”
BetterPlace is India's largest onboarding and background verification provider
“Today we are the largest in the country when it comes to onboarding and background verification.”
Blue-collar workforce attrition ranges from 100% to 300%
“Attrition can go from hundred percent to 300% depending on the segments and the season and so on, right?”
Indian enterprises spend roughly $30 billion annually on blue-collar workforces
“So now you look at 15 crore people. And if you do 20,000 rupees per person, that's roughly thirty billion dollar of spend that is happening.”
BetterPlace manages roughly two million workers annually
“We manage roughly 20 lakh people through our platform year on year right now for our customers, right?”
BetterPlace is currently growing revenue at over 100% year-on-year
“We are growing more than a hundred percent year on year Siddharth right now.”
BetterPlace grew 30x in revenue over five years
“We overall in last five years, we have grown roughly 30 X not accounting the zero one, right?”
BetterPlace has roughly 12.8 million registered job seekers
“We have roughly one point two eight crore job seekers in our platform today who are applying for different jobs on a daily basis, right?”
BetterPlace will launch in Southeast Asia by the end of 2021
“We will be launching in Southeast Asia towards the end of this year. Most likely in Indonesia and Philippines.”
BetterPlace aims to provide 3 million workers with credit within three years
“Out of that one crore people, we want to enable at least 30 lakh people where they have access to credit, insurance telemedicine and skilling, upskilling opportunities. So we want to ensure that 30 lakh people of that one crore is what we manage through our wo…”
Half of BetterPlace's 1,400 enterprise customers use a paid model
“Today we work with roughly 1400 different customers in multiple different segments out of which some of them are using our freemium model. So we also provide some services roughly half of them are using our paid model.”
BetterPlace expects up to 200% year-on-year growth this year
“I think with that we might grow hundred 70 to 200% this year from a numbers perspective.”
BetterPlace generates over ₹3 crore annually from some enterprise clients
“Some of our customers we do roughly 20, 30 lakh rupees monthly revenue, so it's larger than three crore.”
BetterPlace reached $10 million ARR on just $17 million in funding
“And we have done all together roughly seventeen million of rates so far. And yeah, that has helped us to reach those ten million in ARR the heavy healthy growth that we have shown.”
BetterPlace delayed hiring its senior executive team for two years
“If I have to do it again, I will actually bring some of the key talents at the very beginning of the company. And I think we were one and a half years, two years delayed in that path, right?”
BetterPlace did zero PR or marketing in its first three years
“Branding and marketing is something we had learned and we wanted to invest, but we didn't do enough in the first three years, right? We didn't have any events organized. We didn't talk about our videos, no YouTube channel, no media coverage, and so on and so f…”