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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Wang: Boundless spends over $400 to acquire a $500 customer
“Out of 500 dollars our customer acquisition cost is a little over 400 dollars.”
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.”
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.”
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…”
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…”
Wang: US government has expanded leeway to deny incomplete applications
“The government now has far more leeway to both request more evidence from families who are applying for immigration, as well as deny applications that are incomplete or missing documents.”
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.”
Wang: There are 2 million U.S. green card applications a year
“If you look at the category just in the U.S., right, there are two million total green card and naturalization applications a year. There are about twelve million sort of non-immigrant applications a year, so those are like work visas, travel visas, student vi…”
Wang: Immigration lawyers multiplied tenfold 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.”
Wang: US marriage green cards are a $200M market for Boundless
“So there are 400,000 marriage green card applications a year. We charge a 500 dollar fee for our service. So that means, yeah, this is a two hundred million dollar market”
Wang: Boundless reached 150 customers with 50 percent MoM growth
“So we've had a little over a 150. Since we launched in September. So we've been growing 50% month over month in terms of number of customers.”
Wang: Nine million eligible US residents lack information to naturalize
“There are nine million people who are eligible to naturalize And don't. And when they did a nationwide survey, they found that, like, over 60% was because they had no information about how to naturalize.”
Wang: Boundless grew its customer count 5x in one year
“We have dramatically increased our number of customers to the point where, you know, we are now five to six times larger than we were in the span of a year.”
Xiao Wang: Boundless raised an $8 million Series A
“We raised a little under eight million dollars.”
Wang: 400,000 marriage green card applications are filed annually
“So there are 400,000 marriage green card applications a year.”
Wang: Boundless reached over 150 customers, growing 50% month-over-month
“So we've had a little over a 150. Since we launched in September. So we've been growing 50% month over month in terms of number of customers.”
Wang: Over 60% of 9M eligible immigrants don't naturalize due to lack of information
“There are nine million people who are eligible to naturalize and don't, and when they did a nationwide survey, they found that, like, over 60% was because they had no information about how to naturalize, and that's, like, exactly what we did.”