Disclosure
Turner: Swipeby Acquires Its Customers Exclusively Through Door-to-Door Sales
“And so we are exclusively selling door-to-door.”
Disclosure
Turner: Swipeby Targets a Series A Valuation Between $60M and $75M
“So what we're actually trying to land on where we are today is in the sixties to 75, right?”
Insight
Turner: Voice AI Must Focus on Capturing Customer Data, Not Transactions
“Like, and what we always think about in the world of AI, I think there's still a lot of companies focusing on the transaction. So you have an AI voice answering to help someone to buy a burger. That's good and great, but that was what the phone call did before…”
Insight
Turner: Many Software Workflows Should Remain Deterministic Rather Than AI-Powered
“And I think the one thing which in this world of AI is the reality is also not everything needs to be AI. A lot of the thing is deterministic, right? Like it's, we're now trying to AI-fy everything when there's a lot of workflows that can be actually just dete…”
Assertion Not checkable as stated
Turner: Swipeby grows at 400% year over year with accelerating growth
“You know, we are at, like, 400% year over year. It's actually accelerating.”
Insight
Turner: Rapid Revenue Growth Makes Stripe Capital's Effective Interest Rates Insane
“Stripe has fairly good terms. If you pay them back over a year and a half, if you pay them backwards in three months, time value of money and, you know, actual, and what was it internal rate of return for them or whatever, right? Like interest is kind of insan…”
Opinion
Turner: Charging to design websites or build apps is insanity today
“The things that should be commoditized in today's world, like a website, anyone who charges you to design your website is just insanity in today's world. And my humble opinion, it is Commoditized processing a transaction. I mean, yes, you have to pay a mix and…”
Disclosure
Turner: Swipeby Refuses Free Trials Because Uninvested Customers Will Not Onboard
“We don't do free trials. We would never ever do free trials because if you are, and so, you know, because if you are signing up with us and we don't, as a business owner, you don't have skin in the game, you will not go live”
Assertion Not checkable as stated
Turner: Swipeby Runs 400 Monthly Demos Entirely Through Outside Sales
“400, something like that, 300 to 400 right now. Again, all outside sales, not a dollar on marketing, not a single inbound funnel.”
Insight
Turner: Founders Scale Companies Better When Relieved of Daily Financial Stress
“There is something to be said about you are a better founder, a better person to grow it if you are not eating ramen every day.”
Assertion Not checkable as stated
Turner: Swipeby Operates as an Autopilot Marketing Agency With Zero Human Staff
“Which is really the AI economy that it is on fully autopilot. But you can think about us as a super boring marketing agency, just that there is no one actually in the agency and it's AI.”
Assertion Supported
Turner: Swipeby Clones Business Owners' Voices to Autonomously Answer Phone Calls
“Yeah, we can clone the voice of the business owner, answer whether one person calls or a million people calls”
Disclosure
Turner: Swipeby Commoditizes Websites and Online Ordering to Monetize AI Services
“So currently what part of our business model is we do free websites, free online ordering, free loyalty and rewards, where there is other companies where that's their bread and butter, and we can come in and cut them out entirely. And we then monetize with the…”
Disclosure
Turner: Swipeby Pays Door-to-Door Sales Reps Guaranteed Minimums for Activity
“So they have an activity guarantee, what we call it. So if you don't close anything, but you knocked on doors and you set appointments, you will make money.”
Disclosure
Turner: Swipeby Paused Hair Salon Expansion Over a 5% Product Gap
“Like, we did open up to hair salons, nail salons late last year, and exactly what you mentioned we found. We are just missing five percent to be perfect for them, and that is why we stopped it.”
Disclosure
Turner: Swipeby does not need outside capital to grow
“The down round again, I'm not so worried about because I don't need money to grow the business.”
Assertion Not checkable as stated
Turner: Swipeby Generates Around $3.5 Million in ARR
“I mean, yeah, we are right now at like 3.5 ARR, right?”
Assertion Not checkable as stated
Turner: Swipeby Reached $3.5M ARR With Only Three Full-Time Engineers
“Out of that are three engineers plus me.”
Disclosure
Turner: Swipeby Door-to-Door Sales Reps Target $36K Monthly ARR
“Quota target is actually fairly low. It's still not a walk in the park, but it's around six locations a month. You would bring in about 36,000 of ARR a month at around six locations.”
Assertion Not checkable as stated
Turner: Swipeby Sustains 400% Revenue Growth While Remaining Near EBITDA Breakeven
“I mean, we actually, all the growth we're doing plus minus EBITDA profitable. Some months we lose a little bit money. Some months we make a little bit money”
Disclosure
Turner: Swipeby Survived Multiple Pivots and Two Severe Failures Before Scaling
“I've been here through a lot of pivots. I failed twice with this company. Right. And failed hard. I mean, failed hard.”
