StarZero All shows Try the podcast clipper →

Andrei Spivak (Andrei Spivovic)

Founder & CEO, Referrizer · 1 appearance on the record.

computed by AI from the episodes · how this works → · full disclaimer →

founderexecutivehost

Andre Cvijovic, sometimes transcribed as Andrei Spivak or Spivovic, is the founder and CEO of Referrizer, a marketing automation platform for local businesses. He bootstrapped and scaled the company into multi-million-dollar ARR using high-volume outbound cold calling.

16statements → 4claims → 0claims resolved → 4.12/5average certainty → 1.56/5average debate potential →

4 not checkable as stated how the 4 claims stand · each chip opens the sources

4 assertions · 1 insight · 11 disclosures · every statement was checked. The predictions and assertions are the 4 claims: statements the public record can support or contradict. 0 are resolved, and 4 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Andrei argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Andrei Spivak (Andrei Spivovic) on measured tape to publish a rate. This says nothing about how they speak.

Everything Andrei Spivak (Andrei Spivovic) said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Disclosure
Referizer operates 100% commission-only sales with zero base pay
“Whole sales system is performance based, hundred percent, no base pay, right? No overhead. The half of the setup fee, that's 500 bucks, goes to appointment setter that sets up the demo. Plus, we give them 10% of residual, right? Then second half goes to the cl…”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 7:49 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Insight
Spivak: Early-stage startup valuation scales from $1M idea to $3M revenue
“If you have idea and somebody else invest money, it's like a million dollars worth. If you have a product that's running, you have no revenue, it's two million. If you already have a revenue, clients are paying for it. It's three million.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 5:47 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer pays all team members 80% cash and 20% equity
“Everybody in the company is paid 20% with a stake of, you know, 80% cash, 20% equity.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 4:40 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer cold calls roughly 20,000 businesses every week
“We are calling about 20,000 businesses every week.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 7:26 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Assertion Not checkable as stated
Spivak: Referizer grew revenue from $60k to $1.4M in 12 months
“We went from 60,000 a year revenue to 1.4 million. Literally in 12 months just by implementing this model.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 9:21 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer allocates 35% to 40% of revenue to sales commissions
“It's about 35% of our revenue going to sales efforts. If you're growing fast, it goes 40%, right? So yeah, if it's 174,000 times 0.4, it goes about 70,000 dollars towards sales efforts.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 13:27 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Spivak: 100% of Referizer's salaried team is outsourced offshore
“All of those that are on a salary are outsourced.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 14:41 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer raised $100K by emailing equity offers to 1,000 clients
“Honestly, we send an email to all my clients says, do you want to own piece of referizer? Nathan Latka: Oh, very cool. SPEAKER_04: Yeah. Andrei Spivak (Andrei Spivovic): And I sent thousand emails out. Andrei Spivak (Andrei Spivovic): Interestingly, five o…”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 17:19 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Assertion Not checkable as stated
Referizer experiences 5.5% to 6.5% monthly churn
“Around six percent. 5.5 to 6.5.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 20:48 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer reaches 1,015 paying clients and 13,000 freemium users
“We just passed thousands, so we are about a 1015 paying clients and over 13,000 freemium ones.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 6:07 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer generates $174,000 in monthly revenue with $146,000 in MRR
“So, one 146 is residual without set up fees. So, if you deduct 174 -146, I would say 26, 28,000.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 8:56 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer raised $500K at a $9M valuation
“We just raised some money and we valued it as nine million dollars. Nathan Latka: How much did you raise? Andrei Spivak (Andrei Spivovic): 500,000.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 15:10 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer lost 35% of monthly revenue at the start of COVID-19
“COVID came in 35% revenue lost first month, and I got shocked.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 15:22 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Assertion Not checkable as stated
Referizer retained all clients during COVID-19 by offering free accounts
“I mean, luckily we didn't lose a single client, a single employee. Andrei Spivak (Andrei Spivovic): We didn't lose clients. Andrei Spivak (Andrei Spivovic): We just lost the revenue. Andrei Spivak (Andrei Spivovic): We gave them free accounts until they rec…”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 16:06 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Assertion Not checkable as stated
Referizer pays $800 to $900 CAC for $180/month customers
“About eight to 900 dollars.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 20:20 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK
Disclosure
Referizer raised at a $3M valuation in 2016
“So, we raised it on three million dollars valuation.”
Andrei Spivak (Andrei Spivovic) Apr 19, 2021 ▶ 5:21 How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK

Appearances (1)

EpisodeDateSpeaking time
How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK Apr 19, 2021 12m
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 2,600 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more