MeetApp

14 statements across 1 episodes · 5 bullish · 0 bearish · 1 people on the record · first statement Jul 17, 2019 by Mats Backlund · said 8 times in 1 episodes since 2019 · across every show →

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brought up most by Nathan Latka (8)

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2019 8 mentions in 1 episode

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Everything said about MeetApp, oldest first

Jul 17, 2019
Assertion Not checkable as stated
MeetApp has roughly 150-170 annual subscription customers and 150-170 single-event customers
“If I calculate over a year, we have maybe a 150 170 subscription customers and about the same number of single event customers.”
Mats Backlund Jul 17, 2019 ▶ 8:05 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 neutral
Assertion Not checkable as stated
MeetApp's fully blended customer acquisition cost is approximately $2,500
“It's around 2500 dollars.”
Mats Backlund Jul 17, 2019 ▶ 10:35 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 neutral
Disclosure
MeetApp spends roughly $2,000 to $3,000 monthly on paid ads
“Too little, I would say we want to increase it, but it's probably two to 3000 dollars.”
Mats Backlund Jul 17, 2019 ▶ 11:48 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019
Assertion Not checkable as stated
MeetApp generates about $70,000 per month in pure subscription revenue
“We have subscription revenues of Maybe a 70,000. a month, and then we have the setup fees.”
Mats Backlund Jul 17, 2019 ▶ 7:48 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 positive
Assertion Not checkable as stated
MeetApp's gross revenue churn is roughly 5% to 8%
“It's about half that I would say.”
Mats Backlund Jul 17, 2019 ▶ 5:28 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 positive
Prediction Not checkable as stated
MeetApp projects revenue will grow by about 70% in 2019
“This year, maybe not, maybe in, in absolute terms we'll have a higher increase, but in, in percentage, maybe not a hundred percent. So let's say it's was, we will grow with maybe a 70% this year.”
Mats Backlund Jul 17, 2019 ▶ 8:26 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019
Insight
Offshore dev teams fail unless taught to understand product context
“The key to succeeding in having an offshore team is that you need to really invest in, first of all, getting the right people in, of course, but also investing in getting them to understand the product, the business, so that they can actually think for themsel…”
Mats Backlund Jul 17, 2019 ▶ 9:51 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 neutral
Disclosure
MeetApp employs 18 to 19 people across Sweden, the US, and India
“We are 18 or 19 today. We are seven of us here in Stockholm. We are Three, two actually now, but version three in, in the U S and we have a team of nine in in India, in Chandigarh.”
Mats Backlund Jul 17, 2019 ▶ 9:08 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 neutral
Assertion Not checkable as stated
About two-thirds of MeetApp revenue is subscription-based
“It's about two thirds are subscription.”
Mats Backlund Jul 17, 2019 ▶ 4:09 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 positive
Assertion Not checkable as stated
MeetApp's organic search drives more leads than paid ads
“The search engines actually, I mean, the organic search actually bring in more leads than the ads.”
Mats Backlund Jul 17, 2019 ▶ 12:36 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 neutral
Assertion Not checkable as stated
MeetApp subscription customers pay $400 to $500 monthly on average
“If it's a subscription, on average, they pay between four and 500 dollars a month.”
Mats Backlund Jul 17, 2019 ▶ 3:58 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 positive
Assertion Not checkable as stated
MeetApp customer upgrades fully offset revenue lost to churn
“The customers to upgrade and use the solution more compensate for whatever we lose if I put like that.”
Mats Backlund Jul 17, 2019 ▶ 5:50 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019
Assertion Not checkable as stated
MeetApp doubled revenue year-over-year for the past couple years
“We have been able to double our revenue the last couple of years.”
Mats Backlund Jul 17, 2019 ▶ 8:21 1453 How This Event App Bootstrapped to $1M in ARR
Jul 17, 2019 positive
Assertion Not checkable as stated
MeetApp annual logo churn is roughly 10% to 15%
“We have a show now maybe 10 to 15% a year or 1.5% per month.”
Mats Backlund Jul 17, 2019 ▶ 5:12 1453 How This Event App Bootstrapped to $1M in ARR
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