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Mark Abbott

18 statements across 4 episodes · 7 bullish · 2 bearish · 2 people on the record · first statement Apr 2, 2020 by Mark Abbott · across every show →

On the record as a speaker too: Mark Abbott's record, appearances and statements → this page counts the times other people say the name.

Everything said about Mark Abbott, oldest first

Apr 2, 2020 bullish
Opinion
FarmRaiser founder claims platform can beat Amazon on marketplace flaws
“Of course I'm following Bezos cause he's going to be my new neighbor and much of what they did in their marketplace we like, and much of it that we don't like, we think we can beat them at.”
Mark Abbott Apr 2, 2020 ▶ 14:04 1713 Is this a better way for schools to fundraise?
Apr 2, 2020
Disclosure
Abbott: FarmRaiser has raised just over $1 million
“Raised just over a million dollars.”
Mark Abbott Apr 2, 2020 ▶ 11:23 1713 Is this a better way for schools to fundraise?
Apr 2, 2020
Disclosure
Mark Abbott: FarmRaiser charges suppliers unit fees and takes 5-10% of retail
“We do, we have, we take out from both sides of the platform. We take a little bit from the supplier. So by adding on a small fee to each unit sold, not dissimilar to what Airbnb does. And then on the backside, we take five to 10% of the retail price.”
Mark Abbott Apr 2, 2020 ▶ 4:49 1713 Is this a better way for schools to fundraise?
Apr 2, 2020 bullish
Prediction Not checkable as stated
Abbott: FarmRaiser will reach breakeven volume by year-end
“So we should be there by the end of this fiscal year we should be looking at a real volume that allows us to break even.”
Mark Abbott Apr 2, 2020 ▶ 12:00 1713 Is this a better way for schools to fundraise?
Apr 2, 2020
Disclosure
Mark Abbott: FarmRaiser runs zero-upfront presales at ~50% wholesale margins
“No money changes hand up front. It's all a presale. So if it says suggested retail, 28 dollars, they're going to buy it for about 14 dollars. And so they're going to, so they're, their wholesale cost is about 50% of retail in general.”
Mark Abbott Apr 2, 2020 ▶ 3:53 1713 Is this a better way for schools to fundraise?
Apr 2, 2020
Disclosure
Abbott: FarmRaiser burns around $35,000 per month
“We've tabbed down to around 35.”
Mark Abbott Apr 2, 2020 ▶ 12:46 1713 Is this a better way for schools to fundraise?
Oct 25, 2020 negative
Disclosure
Mark Abbott avoids venture capital to protect founder time and maintain control
“There's a lot of time needs to go into if you want to go raise equity. And right now we're, you know, we're running nine, eight, a 120 miles per hour, just doing what we need to do. And so as far as you know, just allocating my scarce time, that's not somethin…”
Mark Abbott Oct 25, 2020 ▶ 10:26 Ninety.io Used Community to Hit $2.8m Run Rate, Bootstrapped
Oct 25, 2020 positive
Assertion Not checkable as stated
Abbott: Ninety.io annualized gross revenue churn is under 4%
“Right now, trailing 13 weeks, I almost don't even want to say this, Nathan but trailing 13 weeks, we're less than four percent annualized.”
Mark Abbott Oct 25, 2020 ▶ 11:03 Ninety.io Used Community to Hit $2.8m Run Rate, Bootstrapped
Apr 28, 2022 positive
Assertion Not checkable as stated
Mark Abbott: Three active trial users drive 80-90% conversion for 90
“If we can get three users in during a trial period, we're almost at like 80, 90% conversion rate.”
Mark Abbott Apr 28, 2022 ▶ 9:15 He Used Community to Hit $7m Revenue, VC's chased him
Apr 28, 2022
Disclosure
Abbott: Retained 80% ownership in 90 prior to Insight Partners round
“Yeah, so I was at 80% up until Insight came in.”
Mark Abbott Apr 28, 2022 ▶ 17:41 He Used Community to Hit $7m Revenue, VC's chased him
Apr 28, 2022
Assertion Not checkable as stated
Abbott: 90's $20M round was entirely primary equity on the balance sheet
“It was all equity.”
Mark Abbott Apr 28, 2022 ▶ 22:07 He Used Community to Hit $7m Revenue, VC's chased him
Apr 28, 2022 bullish
Assertion Not checkable as stated
Abbott: 90 has grown revenue 5% to 8% month-over-month for years
“We've been doing five to eight percent month over month revenue growth for several years now.”
Mark Abbott Apr 28, 2022 ▶ 14:01 He Used Community to Hit $7m Revenue, VC's chased him
Apr 28, 2022 neutral
Assertion Not checkable as stated
Abbott: Insight rated 90's first board meeting an eight over missing metrics
“Everybody gave the meeting a nine or nine and a half except for insight, and they gave it a, they gave it an eight, and they gave it an eight because we didn't give them all the numbers, the detailed numbers that they wanted to see”
Mark Abbott Apr 28, 2022 ▶ 22:42 He Used Community to Hit $7m Revenue, VC's chased him
Apr 28, 2022 positive
Insight
Abbott: Software startups can talk to any investor once reaching $10M ARR
“We have no intentions of raising anything until we're at least at ten million ARR, because that's when I think, in my old world, that's when you started to be able to have conversations with almost anybody you wanted to, right?”
Mark Abbott Apr 28, 2022 ▶ 16:32 He Used Community to Hit $7m Revenue, VC's chased him
Apr 28, 2022 neutral
Assertion Not checkable as stated
Mark Abbott: Two senior marketing contractors cost 90 over $500,000 combined
“And so right now I've got two senior guys in marketing, and together they're costing me over half a million.”
Mark Abbott Apr 28, 2022 ▶ 20:05 He Used Community to Hit $7m Revenue, VC's chased him
Apr 28, 2022 negative
Opinion
Mark Abbott: EOS framework lacks guidance on building business value
“EOS, which I'm very close to, really doesn't have anything about figuring out how to build value, right?”
Mark Abbott Apr 28, 2022 ▶ 2:36 He Used Community to Hit $7m Revenue, VC's chased him
Nov 19, 2024 positive
Assertion Supported
Latka: Mark Abbott rapidly scaled Ninety to a $30M revenue company
“Well, I don't want to bury the lead, but I rarely see someone take advantage of a movement and build it into a thirty million dollar revenue software company as quick as you did.”
Nathan Latka Nov 19, 2024 ▶ 0:39 They make $30m per year selling software to the EOS community, Ninety CEO
Nov 19, 2024
Assertion Partly supported
Abbott helped build and IPO a company now valued over $50B
“Helped build a company and a platform that was pretty successful. Helped take company public. To this day, the company's over fifty billion.”
Mark Abbott Nov 19, 2024 ▶ 2:58 They make $30m per year selling software to the EOS community, Ninety CEO
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