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.
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Al Bsharah: Active founders should hold four investor conversations every few days
“You should be having four conversations every couple of days, if not every day.”
Kinzie Lux: Ride iQ TAM exceeds $20B across four verticals
“The TAM is north of twenty billion dollars when we expand across three other verticals.”
Howie Diamond: Ride iQ will take our money in 18 months
“They'll take our money in a year and a half from now. ... They will. Trust me.”
Jessa Lux: Accepting VC funding is not worth enduring investor stress
“The momentum would have been great, and those follow-on deals would have been great, but it's not worth a check to get someone in the door who's going to be a source of stress.”
Howie Diamond argues Ride IQ warrants a $6M valuation due to slow growth
“Their margins are great, their growth is not. So like six, between six and seven makes sense.”
Ride IQ's TAM exceeds $20 billion when expanding into other sports
“The TAM is north of twenty billion dollars when we expand across three other verticals.”
Howie Diamond predicts Ride IQ will take his money in 18 months
“They'll take our money in a year and a half from now.”
Kinzie Lux: Ride iQ targets $2M ARR in 12 months, over $5M in three years
“Ideally in the next 12 months we'd like to hit two million in ARR and then in the next three years we want to hit over five million.”
Jillian Manus passes on Ride iQ, citing a lack of defensibility
“So I'm not gonna invest right now. I feel there's a lack of defensibility here, and I'm not quite sure how you're going to win.”
Jillian Manus: Ride iQ deal is off unless valuation cap is $6M
“I'm not gonna do it if it's not six.”
Jessa Lux: Seven Ride iQ members tattooed the company slogan on themselves
“Seven of our members have Ride IQ's slogan tattooed on their body.”
Ride iQ pays coaches a flat $100 per recorded audio lesson
“We pay the coaches 100 dollars per lesson that they record. It could be a nine minute lesson or a 45 minute lesson. It doesn't matter to us.”
Jillian Manus refuses to invest in Ride IQ above a $6M valuation
“I'm not gonna do it if it's not six.”
Ride IQ claims 42% 12-month retention, double the consumer app median
“Our one-month retention is 84%, our three-month retention is 67%, and our twelve-month retention is 42%, and I'll note that normal consumer apps that are subscription-based the twelve-month retention is 21% is the median, so we are double that.”
Ride IQ pays coaches a flat fee of $100 per audio lesson
“We pay the coaches 100 dollars per lesson that they record. It could be a nine minute lesson or a 45 minute lesson. It doesn't matter to us.”
Seven Ride IQ members have the company's slogan tattooed on their bodies
“Seven of our members have Ride IQ's slogan tattooed on their body.”
Al Bsharah commits $50,000 from Interlock Capital at a $7M cap
“We have the ability to do around a 150 K out of the fund. If we're at seven, then I'm definitely in for the 50, assuming you get your traction.”
Ride iQ claims 42% 12-month retention, double the consumer app median
“Yeah, we launched in August of twenty-twenty-one. Our one-month retention is 84%, our three-month retention is 67%, and our twelve-month retention is 42%, and I'll note that normal consumer apps that are subscription-based the twelve-month retention is 21% is …”
Ride iQ reaches 1,500 paying members and $430,000 in ARR
“We launched in August of 2021 and have organically grown to over 1500 paying members and 430,000 dollars in ARR.”
Ride IQ reaches 1,500 paying members and $430,000 in ARR
“We launched in August of twenty-twenty-one and have organically grown to over 1500 paying members and 430,000 dollars in ARR.”
Ride IQ's coaching roster includes six Olympians and one gold medalist
“We have one Olympic gold medalist, several Olympic medalists, six Olympians. All of them have competed to the top of the sports.”
Al Bsharah commits to investing $50,000 in Ride IQ
“I'm relatively comfortable at 50 K. That'd be great.”
Kinzie Lux claims 8M equestrians ride coachless four out of five times
“Eight million equestrians ride without a coach for four out of five weekly rides.”