Chili Piper

“We're on 10 K in ACV.”

“One thing remarkable about TV Piper is that we have a no discount policy. So nobody, we just don't know discounts. And even these companies that I mentioned, there are very large companies with procurement department bigger than our company pay the same price.”

“Well, that, that meeting organized with a long form memo, right? Where every decision is based on a memo. We do that. The same thing. We, It's working really well.”

“Right now our biggest customer is probably Facebook. There are hundreds of reps on our app.”

“So we have companies like Avalara, where we start with the SDR, then we get the AEs, then we get customer success, and we get the analyst, and we get pretty much everybody.”

“We bootstrapped. So we did not take VC money. Our team is all we hire based on the cash we bring in.”

“I've hired my first director of demand gen last June. We started advertising on LinkedIn in early July. So we've grown all that business pretty much organically word of mouth. It's all been inbound.”

“We fought is 14 of us, but until, until last June, we had only two sales reps. So now we have four sales reps.”

“When we first launched it, we only had booking, and it's SDR's job to book, right? So we had a bit of a pushback, because as you're replacing my job, I'm not so happy about it.”

“We've more than 200 companies using our software. We about 7000 reps receiving meetings and using up”

“Yeah, that's right. We're getting paid back in about a month, yeah. About a month.”

“We've churned 60,000 dollars and expanded 360,000 dollars. So we have a net churn over the last 12 months of 300,000 dollars.”

“Yeah, I think that's fair for us now. The market will tell me.”

“Our price point is Is 50 dollars per rep per month to include the phone.”

“So unsolicited in March, we got an interest from Tiger Global. I got on a call with John Curtis and literally he made the offer on the fly. The later the evening with a term sheet two weeks later with the money for a thirty three million be around.”

“Our trend is super high in this SMB, and our net revenue retention is a hundred percent, but our net revenue retention in the enterprise space is north of a 150%, like the number you mentioned, and the market is in between.”

“So scan badges is nice but that doesn't get you pipeline. Yeah. Then you have to follow up for email them, go through the same thing. So all of them realize that what matters is try to get meetings ahead of time and meetings on the floor instead of go straight…”

“We passed 150 employees. We actually passed the ten million mark earlier this year, so we're not, not aiming for the twenty million mark.”

“And what happened is that all our customers double the inbound conversion rate. So they go from 40 to 80% or from 20, some went from 23% to 75%, right?”

“The thirty-three million went into the company. The same amount went into the secondary.”

“So we passed a thousand.”

“That is not in our future. No, Alina and I have built this company. We having a blast.”

“It's three quarter of a million and I can't name the customer.”

“But the hard part is not to show a calendar. The hard part is to do the real-time qualification and routing.”

“I see the drift is doing that because they've had the churn problem. So then they're trying to make their numbers look better. So they even refuse to take companies.”

“Well, that's the plan, yeah.”

“Some of them You know, came in very early and they did a 50 or a hundred X. Yeah.”

“I would say that if we meet our plan by the end of the year, getting the twenty million, we'd be there.”

“We have a 150 pipers. We promised them all that we're going to get our share price to a hundred dollars a piece so that they're all millionaires every single one of them.”

“We're about 20, 20, 15. So 20 SDRs, 20 AEs, 15 AMs.”

“We're seeing, you know, Chili Piper just sold seven million secondary at a six hundred twenty five million valuation with fifteen million in revenue, but that's very different than what Lemless just did, which was sell thirty million for 20% of business at one…”

“We sold the house. We sold the BMW. We put all the money in the company.”

“We did a secondary with Tiger Global. We sold thirty-three million. So we raised thirty-three million, and we also sold thirty-three million.”

“In 2019 No, 18, social capital came to us and say we, they understood, they said we're lucky, and they gave us a term sheet to put two million on twenty million prix.”

“The gravity well is that you build a software and then there's somebody next to you that can include your features in their offering. And so boom the, you know, the features fall into that product, the gravity well, and you don't want to be in that position wh…”

“Then the company with the money grows faster, as you can tell, and we go from seven to 16, so we now more than doubling.”

“By the way, we have a no discount policy. So I do about five rounds of negotiation with, not negotiation with the procurement Facebook.”

“But then when we did our B run the attorney for Tiger Global said that doesn't look very safe, like from a liability standpoint, right? And so we said, okay, we'll move to Oyster.”

“Yeah, so we did six 25, which was the highest of the market. We, that was in the end, well, at five hundred million with ten million worth of sale, at six 25 with twenty-seven million, so twenty-seven million secondary, and that's what happened.”

“You can't do a service. The fee has to be a prepayment against software because otherwise they own the IP, right? If you do a service business, you do develop for them and they own the IP. So the, it's very important if you ever do something like that, where y…”

“We gave them shares. A 100,000 shares each. And as I said, the secondary is 16 dollars a share. So each of them, that pair for the months was 1.6 million each.”

“So that deal was June 20, 20. It was based then. And they offered 15 on 55 pre. 28 years. So we're doing around four plus million. So it's, it was around 12 X. There was a number, 12 X run rate.”

“So, so, so I went back to the company is called Five Star, that woman who asked us to do this, she said, would you prepay for it? And she said, yes, I would prepay. I'm sure she would have paid much more, but we were so desperate we did a deal for 20 K. So the…”

“We bootstrapped for four years, then we raised fifteen million in twenty-twenty, just after COVID, and then Tiger Global came in and say, we want to give you thirty-three million at an absurd valuation.”

“More than a million.”

“We were at 92% before Morocco. We redid it in January, we were at 75%.”

“So we cut a third of the company. So we went from two 50 to one 70”

“We were burning, it went to two million a month.”

“Instead of organic expansion, we had contraction. Instead of new logos, we had half of new logos.”

“Yeah, so so November, December, January, February.”

“So we switch our AM bonus entirely on cross-selling. They're no longer compensated on NDR. They're only compensated on cross-selling.”

“We crossed out 30.”

“They don't have the rights. Those who came into the very high valuation do not have the rights to block.”

“I had 42, that's the number, VCs who had reached out to me to say, we want to do your C-Round, we want to do your C-Round”

“We didn't want to go at a lower valuation, so we said we cut costs, we go cash positive. That's what we do. So that's what we've done.”

“We'll be launching soon a chat product to have the full range of what it takes to convert interest into a pipeline, basically.”

“Yeah, so we repriced the options, so we I went to the board, I said, look I believe the whole idea of stock options is to be motivated which that, so we had another four, nine, eight, it's called to tell us the current correct price, and we repriced all our op…”

“2000.”

“No, we switched to being cash positive.”

“Two, we went from two 25 to one 50.”

“We have something coming in the first quarter that we think is the chat GPT of Calendly, you know, but we'll see.”

“We're getting thirty million run, right?”

“So little known is the fact that in 2020 we launched a product called inbox. Because we thought, okay, we need to help people engage with their buyer, and there is a lot of things happening in the inbox, so let's do an inbox, an email inbox, which came out lik…”

“So it's more the viral aspect than the SEO that's working for us. SEO, to be a candidate, I think we can do better, and we get back to it next year.”

“Chili Piper's doubled their ACV cut their customer acquisition costs in half, and also dramatically increased revenue per employee, up to 200,000 dollars per employee, all over the course of the last year.”

“We actually had, at some point, an inbox as well, and the inbox was allowing buyers to see their entire buyer's journey and see who at the company emailed, what they did, and so forth. We killed it because we realized that it's going to be so hard to get peopl…”

“We also observe that we're gonna sell less well if, sorry, they're based in Europe, they take forever to close. If they're on Outlook, for some reason, people that use Outlook, they're a lot slower to make decisions as well and if they're a traditional company…”

“If I can't find a job in our company that makes them happy, if I don't find the path for them to grow them in my company, I'm going to find them a job outside. And I really go outside of my way to find them a perfect fit.”

“There are a lot of things that have happened this year, but we're cash break even, and we're continuing to grow.”

“That's how we managed to book 500 meetings a quarter”