Claap

“So one of the things we did, for example, was to launch a meeting calculator. It's on our website as well. And basically like you connect your Google calendar, and then you are going to see a lot of like stats around like your number of meetings, like the type…”

“Not a lot, to be honest. I think maybe 150 200.”

“Yes, but actually like none because like we incorporated the right for the fundraising announcement. Like when we had like the term sheet, we are not incorporated yet.”

“The valuation, like, pre-money was around, like, 14.5 million.”

“So, so I think like the main difference with like Loom, Loom, it's more like for video sharing. Like if you want to share like an update, it's like perfect, but it's not like build to basically like collect feedback and make decisions. It's not also, it's not …”

“Like if you try and be everything for everyone in the company, you just get diluted. But if you build specifically for a product manager, you can go really deep and just dominate and charge more.”

“We had, like, one term sheet in a few days. And in three weeks, we had, like, 15 term sheets. And that's how we basically went from, like, 500 K to three million.”

“No, I think it will be like somewhere between like 10 to 20 dollars a month per video creator.”

“If you launch a product that is like free from the beginning and then you launch the pay plan maybe one year after you, it's going to be like super hard. To do it.”

“So like the goal for clap is really to build a product for like anyone in the company.”

“No, we are still pre-opnew. We launched the private beta actually like around like one month ago. And right now it's really close private beta. And we have like around maybe I would say like monthly active users around like 100 monthly active users, around lik…”

“So it's a premium model. So like the idea is to have like a free plan which is like basically like people are starting to like record the claps and then like inviting people to commence on claps, etc. And then that scale is to have like a revenue model based o…”

“One of the key when you want to build like a category is that you need to own the problem. Like you need to kind of build the cognitive link between like the enemy, like the prime in our case, like back to back meetings. And the category so that like people, w…”

“I think, like, what this is like is when you come with, like, a strong narrative, which is not about, like, creating a new product, but, like, creating a new category.”

“So basically like what we did some consulting missions and the idea was to take maybe like the 15, 20 different like products on the market and test them as if it was like our own MVPs.”

“Total workspace, it must be around 2000, but actually like a lot of them are not activated.”

“To sum up, it's Loom, but for feedback and decision making, because we add like on top of Loom, a layer of like collaboration together to annotate the video to make decisions and so on.”

“I think it was around 17 in the last, it was around 17.”

“I think like one way they build the product being like super just user centric has some limitation in actually like becoming a platform for the entire organization.”

“The way we define activated user is to clap recorded. Today the activation rate we have is in between 15 to 20%, which is really definitely something we need to improve.”

“We actually, like, decided to launch it pretty early, not to have a payroll, but at least to monetize the existing user, because for us, it's really a way to assess if you have product market fit, because, like, meaning if people are ready to pay for it means …”

“But then the retention rate we have it's around like a 70 to 75% after 12 weeks.”

“We add the 1.5 million of debt thanks to like a BPI, which is like the public investment bank such like in total, we got like a 4.5 million.”

“Per month, I would say they pay in average between like 200 to 300 monthly recurring revenue.”

“But then in total with the launch, I would say like the effect of the launch, it lasts around like six weeks. And in six weeks, we got around 3000 new sign up. Thanks to the launch.”

“So you're doing about 5000 dollars a month today in revenue, right? Pierre Touzeau: Exactly. Yeah.”

“It's a product that is much better than the two million AR product. It's a, it's certainly at the level of a twenty million AR product.”

“Clap is selling to exactly the same people as we target. So sales team from three to 50 reps sometimes a bit more and they have the same kind of ACV. They have the same like champions, which are rev ops, business ops or sales managers.”

“We've been facing like two players, including one leading AI platform in France, like much bigger than us. And ultimately what made the difference, it's not really the price because we beat slightly less. It's a more the fits with the product and the team.”

“We have the stat and we already have an all time high, like maybe 50 times the normal creation of workspace. So we already see a big boom in the creation of workspace creation of clap accounts.”

“They pivoted to Conversation Intelligence a year and a half ago. And they grew this product to two million AR and kind of very fast growing, like recently about 10% month over month. And so they had raised the seed, but now they were like almost breakeven. The…”

“We don't set a valuation. We don't need to set a valuation. We don't know, to be honest. Like, you don't need to set a valuation because you convert the bond at the time that there is an operation, you know, the two million worths with a discount. It's 20%.”

“It's so the price is between 30, 15 and twenty-five million but there are some components that are like earn-out part, so it depends on future growth but basically we paid around fifteen million right now, and with add-on price if they reach a revenue target.”

“But yeah, basically just, you reach a milestone of AR, you get some money, and the more, and it can go up to ten million AR.”

“But we'll do in one.”