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Orgzit

13 statements across 1 episodes · 5 bullish · 0 bearish · 1 people on the record · first statement Jun 7, 2020 by Nitin Verma · said 14 times in 1 episodes since 2020 · across every show →

Mentions by year

brought up most by Nathan Latka (12), Nitin Verma (2)

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2020 14 mentions in 1 episode

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Everything said about Orgzit, oldest first

Jun 7, 2020 neutral
Disclosure
Orgzit acquires $250-a-month customers for $1,000 to $1,250 without paid marketing
“It's anywhere about a thousand dollars to about 12 50 dollars, including so we don't do any paid marketing right now. So primarily the cost of customer acquisition is through lead gen.”
Nitin Verma Jun 7, 2020 ▶ 13:21 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020 neutral
Disclosure
Orgzit is actively raising $500,000 to $1,000,000 in seed capital
“We're actually doing a fundraise right now to raise about a half a million to maybe a million dollars to take us to the next level.”
Nitin Verma Jun 7, 2020 ▶ 6:53 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020
Assertion Not checkable as stated
Orgzit lost $1,000 to $1,500 in MRR to churn over two years
“So I mean, in terms of MRR, not in ARR, about 1015 hundred dollars in revenue churn that, I mean, that is what we have lost in the last two years.”
Nitin Verma Jun 7, 2020 ▶ 12:29 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020 positive
Assertion Not checkable as stated
Orgzit expanded an Amazon India division account from $100 to $1,200 monthly
“And it started off as a small POC for about 10 users, and now it's expanded to about 120 users. And we are doing so we started with less than, I think, 500 dollars sorry, we started with less than a hundred dollars a month, approximately. It was just a small P…”
Nitin Verma Jun 7, 2020 ▶ 8:15 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020 bullish
Assertion Not checkable as stated
Orgzit grew monthly revenue from under $1,000 to $5,500 since early 2019
“So in 2019, we did that in January 2019, and at that time, our total revenue was less than a thousand dollars. Now it's about, like, 5500 dollars a month.”
Nitin Verma Jun 7, 2020 ▶ 11:22 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020
Disclosure
Orgzit co-founders work part-time external jobs to bootstrap the company
“My brother sort of works as a part-time CTO and I work as a part-time consultant with World Bank.”
Nitin Verma Jun 7, 2020 ▶ 6:10 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020
Assertion Not checkable as stated
Orgzit customers pay an average of $275 per month
“So they're paying us about 275 dollars a month.”
Nitin Verma Jun 7, 2020 ▶ 4:17 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020 positive
Assertion Not checkable as stated
Every single Orgzit customer uses more than one workflow
“Pretty much everybody. A hundred percent.”
Nitin Verma Jun 7, 2020 ▶ 10:47 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020 positive
Disclosure
Orgzit burns zero capital and funds all salaries from company revenue
“We don't burn anything right now. So all our salaries, so that's the benefit of being in India. So all the salaries that we're paying right now are taken care of by the revenue that we are making.”
Nitin Verma Jun 7, 2020 ▶ 14:29 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020
Assertion Not checkable as stated
Orgzit currently has 21 paying customers
“At the moment we have 21 light paying customers.”
Nitin Verma Jun 7, 2020 ▶ 4:12 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020 neutral
Disclosure
Orgzit plans to cap equity dilution at 15% to 20%
“We don't want to dilute more than 15 to 20%.”
Nitin Verma Jun 7, 2020 ▶ 7:08 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020 neutral
Assertion Not checkable as stated
Orgzit's $100,000 MVP cost was entirely founder opportunity cost, not cash
“Actually, we didn't spend it. So that was more opportunity cost. It was not really money spent. It was just opportunity cost of us not working elsewhere.”
Nitin Verma Jun 7, 2020 ▶ 3:26 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Jun 7, 2020 positive
Assertion Not checkable as stated
Orgzit customers rarely churn if they remain past the first three months
“Because one of the things I forgot to mention is like the first three months is the most crucial. If a customer stays with us for three months, then we have seen that there is a very little chance of them to churn after three months.”
Nitin Verma Jun 7, 2020 ▶ 15:34 They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
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