Richpanel

14 statements across 1 episodes · 3 bullish · 2 bearish · 1 people on the record · first statement Feb 15, 2023 by Amit RG · said 15 times in 1 episodes since 2023 · across every show →

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Everything said about Richpanel, oldest first

Feb 15, 2023
Assertion Not checkable as stated
Amit RG shut down his $1M agency to fund Richpanel
“There's a company called JetCommerce, where I used to do like a million dollars. I reached million dollars in the era, but it was mainly custom services. That I did from 2018 to 19. And I completely shut that down. It's also the thing that funded my RichPanel …”
Amit RG Feb 15, 2023 ▶ 17:59 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 neutral
Assertion Not checkable as stated
Amit RG: Shopify is tightening control over checkout payment processing
“And by the way, Shopify and others are getting very strict about who's processing this payment because they want to control it.”
Amit RG Feb 15, 2023 ▶ 13:41 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 bullish
Prediction Not checkable as stated
Amit RG predicts Richpanel customer count will triple or quadruple at $4M ARR
“So when I'm saying that we're going to cross four million, the number of customers is going to like probably triple or quadruple.”
Amit RG Feb 15, 2023 ▶ 8:02 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 neutral
Disclosure
Amit RG: Richpanel is raising a $5M seed extension round
“So I'm doing a 3.5 million dollar round actually five million dollar round with like a, with an extension seed extension. And I'm doing like a 500 K round for with the angels”
Amit RG Feb 15, 2023 ▶ 5:08 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023
Disclosure
Richpanel raised $2M from Sequoia at a $20M valuation in 2020
“I did raise two million dollars from Sequoia at a twenty million dollar valuation. I did that in 2020.”
Amit RG Feb 15, 2023 ▶ 3:04 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 neutral
Assertion Not checkable as stated
Richpanel relies on two account executives for all revenue generation
“We do have like two sales people, only two, two account execs that bring in like all the revenue.”
Amit RG Feb 15, 2023 ▶ 15:09 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 neutral
Disclosure
Amit RG: Richpanel charges 20 cents per ticket and $1 per self-resolution
“So if it's a ticket, you pay approximately 20 cents per ticket. If it's a, you know, self-resolve, you pay like one dollar.”
Amit RG Feb 15, 2023 ▶ 2:45 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 negative
Insight
Amit RG: Using human agents for repetitive customer support issues is stupid
“If you look at any business, you look at their customer service, customers usually contacting about the same, you know, same seven to eight types of issues, but customers, but business are still using agents to handle these issues. And if you contrast it with,…”
Amit RG Feb 15, 2023 ▶ 0:54 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023
Insight
Amit RG: Product automation should resolve 95% of enterprise support tickets
“They need to do what Uber has done. They need to do what Amazon has done. They need to get to a stage where the product handles. 95% of the issues and only five percent come to them. When the issue is only five percent, then these people will not be somewhere …”
Amit RG Feb 15, 2023 ▶ 14:22 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 negative
Disclosure
Amit RG turned down Y Combinator after raising from Sequoia
“We also got selected by Combinator, but we decided to not go ahead with it. Because this thing happened like one week before YC, YC was all remote. I'm a big YC fan, but it didn't make sense, you know, to dilute so much when we were already getting, they wante…”
Amit RG Feb 15, 2023 ▶ 3:10 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 neutral
Assertion Not checkable as stated
Amit RG: Richpanel has 200 paying customers at $10k ACV
“200 paying customers with an ACV of around 10,000.”
Amit RG Feb 15, 2023 ▶ 2:15 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 positive
Disclosure
Richpanel closed three to four $100K enterprise customers last quarter
“I have like three, four customers that pay a 100,000 and they've all closed like in the last quarter.”
Amit RG Feb 15, 2023 ▶ 8:56 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 neutral
Assertion Not checkable as stated
Amit RG: Richpanel is three times more expensive than competitors
“Because we're three X more expensive than the competition.”
Amit RG Feb 15, 2023 ▶ 8:08 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
Feb 15, 2023 bullish
Prediction Not checkable as stated
Amit RG: Richpanel is on track to hit $4.5M in revenue this year
“We crossed two million dollars in December of 2020, and we are on path to take this year to like 4.5 million.”
Amit RG Feb 15, 2023 ▶ 1:59 How he hit $2m ARR in 24 months for Ecommerce Support SaaaS, Raised at $20m valuation
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