“What is born out in the data is if, you know, on a SurveyMonkey or any other survey tool, the average completion rate is about 20%, and the value of Typeform is that completion rate is around 55%.”
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More from Ophelia Brown
Insight
Engagement metrics often mask true stickiness in SaaS workflow tools
“Lots of workflow tools claim to be sticky, but actually, unless you're some kind of system of record and you're really needed on a daily basis, a lot of engagement metrics Can actually paint a very different story to how the product is actually being used.”
Ophelia BrownMar 4, 2019▶ 9:10What You Need to Raise Your Series A (And Why It Isn't $100K MRR)
Insight
Series A unit economics and KPIs never hold at later stages
“Whatever KPIs, whatever cost of acquisition, whatever lifetime value, whatever you show on a deck at your series A is not going to be true by the time of the series B, and definitely not true by the time of the series See, and certainly not true by the time th…”
Ophelia BrownMar 4, 2019▶ 10:25What You Need to Raise Your Series A (And Why It Isn't $100K MRR)
AssertionNot checkable as stated
Brown sees $10M-$12M Series A rounds close at just $40K MRR
“I mean, I've seen, you know, 10, twelve million dollar series A's happen at 40 K of MRR, and I've seen three, four million dollar series A's happen at a 150 K of MRR.”
Ophelia BrownMar 4, 2019▶ 2:27What You Need to Raise Your Series A (And Why It Isn't $100K MRR)
Insight
Brute-forcing paid marketing does not prove early market demand
“If you kind of brute force spent the marketing to get your few customers, that isn't really clear sign that there's a market need for it. Whereas if you've had, A bunch of inbound beads and people kind of self-serve signing up for it. That's the kind of sign t…”
Ophelia BrownMar 4, 2019▶ 11:25What You Need to Raise Your Series A (And Why It Isn't $100K MRR)
Insight
Proven repeat founders can easily raise Series A rounds at zero MRR
“When we come to the team, and you talk about where you've been before and you want to go out, and you've proven that you can build a product that delivers to hundreds of millions of people, and you're going out for a second time, that's when you can raise a se…”
Ophelia BrownMar 4, 2019▶ 17:34What You Need to Raise Your Series A (And Why It Isn't $100K MRR)
AssertionNot checkable as stated
Typeform reached millions in ARR with zero marketing spend
“The company had grown to significant millions of ARR without spending a dime on marketing, because there was inherent network effects from the reality in the product, how people were sharing it.”
Ophelia BrownMar 4, 2019▶ 6:33What You Need to Raise Your Series A (And Why It Isn't $100K MRR)
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