TabSuite

13 statements across 1 episodes · 0 bullish · 1 bearish · 1 people on the record · first statement Aug 22, 2022 by Unat Bak · said 14 times in 1 episodes since 2022 · across every show →

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brought up most by Nathan Latka (11), Unat Bak (3)

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2022 14 mentions in 1 episode

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Everything said about TabSuite, oldest first

Aug 22, 2022
Disclosure
Bak: TabSuite's $20M exit included $5M to $6M cash, plus equity
“So we, what I was saying is like, because we spent like roughly 500 to, you know, north of 500 K on physical like payments to either vendors, subscriptions, those actual capitalized costs the cash portion of the deal, you know, was roughly like the 10 to 12% r…”
Unat Bak Aug 22, 2022 ▶ 14:47 How he sold his $1m business for $20m Last Week
Aug 22, 2022 negative
Disclosure
Bak: TabSuite pivoted to enterprise B2B after direct-to-founder sales failed
“And then we tried actually opening it up to founders. That didn't work well, so we went back to B to B and then we went ultra high, like B to B to E, I would say, or B to E to B, enterprise to business.”
Unat Bak Aug 22, 2022 ▶ 7:23 How he sold his $1m business for $20m Last Week
Aug 22, 2022 neutral
Assertion Not checkable as stated
Bak: Early TabSuite customer paid $1,000 via check at a restaurant
“It was one of the first customers was a thousand dollars processed As a check handed over a restaurant table.”
Unat Bak Aug 22, 2022 ▶ 5:20 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Disclosure
Bak built TabSuite as an EIR with $500K from an investment fund
“I was the entrepreneur in residence for a fund. And then I essentially built the product under them using 500 K from them.”
Unat Bak Aug 22, 2022 ▶ 12:32 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Disclosure
Bak: TabSuite had about 70 paying customers before its $20M acquisition
“I'd say about 70.”
Unat Bak Aug 22, 2022 ▶ 6:26 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Assertion Not checkable as stated
Bak reused the same engineering contractor team for three startups
“All our engineering was done by the same team that worked with me on the last business and the one before that we grew that.”
Unat Bak Aug 22, 2022 ▶ 10:38 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Assertion Not checkable as stated
Bak: TabSuite SaaS pricing ranged from $500 monthly to over $75k annually
“It was a SAS model ranged anywhere from 500 bucks a month, all the way up to sometimes 75 K a year or more.”
Unat Bak Aug 22, 2022 ▶ 3:40 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Assertion Not checkable as stated
Bak: TabSuite served angel investors, VCs, SBA lenders, and government organizations
“We had everything from everyone from angel investors, single angel investors, all the way up to angel funds, all the way up to micro VCs, big VCs. We even had SBA lenders, government organizations”
Unat Bak Aug 22, 2022 ▶ 1:56 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Disclosure
Bak: The reported $20.8M valuation was an MOU price, later adjusted
“Well, that was, yeah, the initial price, the final price got you know, that was the MOU pricing, but then we adjusted slightly to reach like terms more favorable to both parties.”
Unat Bak Aug 22, 2022 ▶ 16:41 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Assertion Not checkable as stated
Bak claims TabSuite's AI generated over 1 million lines of code
“I would say that we had over one million lines of iterated code written by the ML and AI system.”
Unat Bak Aug 22, 2022 ▶ 5:50 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Assertion Not checkable as stated
Bak: TabSuite Consulting Revenue Reached $30K-$50K per Ticket
“The consulting revenue became almost 30 to 50,000 dollars per ticket from there.”
Unat Bak Aug 22, 2022 ▶ 8:18 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Disclosure
Bak: TabSuite Was at Breakeven Prior to Acquisition
“Yeah, we were break even.”
Unat Bak Aug 22, 2022 ▶ 18:14 How he sold his $1m business for $20m Last Week
Aug 22, 2022
Assertion Not checkable as stated
Bak admits TabSuite generated under $1M in revenue in 2021
“No, we didn't.”
Unat Bak Aug 22, 2022 ▶ 9:17 How he sold his $1m business for $20m Last Week
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