Boundless CEO Xiao Wang describes changes in US immigration policy and procedural enforcement affecting applicants.
Disclosure
Wang: Boundless spends over $400 to acquire a $500 customer
“Out of 500 dollars our customer acquisition cost is a little over 400 dollars.”
Disclosure
Xiao Wang: Boundless loses money on every new customer upfront
“I can be blunt and say, look, we are not, we are losing money per customer. And that's ok. And because we are, we believe that if they have a great experience, that, you know, they will come back to us for future immigration needs.”
Disclosure
Wang: Boundless CAC is over $400 on a $500 price point
“So as of now, so of 500 dollars our customer acquisition cost is a little over 400 dollars.”
Prediction Not checkable as stated
Wang: Boundless relies on high retention for subsequent immigration filings
“In two years, they have to go from a conditional to a permanent green card, which is another transaction, and then a year after that, they can do naturalization, which is another transaction. There's no reason they would go to anyone else for their future appl…”
Prediction Not checkable as stated
Wang: Boundless will retain green card customers for subsequent immigration applications
“In two years, they have to go from a conditional to a permanent green card, which is another transaction, and then a year after that, they can do naturalization, which is another transaction. There's no reason they would go to anyone else for their future appl…”
Assertion Supported
Xiao Wang: U.S. Immigration Lawyer Count Has Grown 10x in 30 Years
“In the 30 years since I went through this journey, the only thing that has changed in this industry are that legal fees have gone up, and there are 10 times as many immigration lawyers in this country.”