Insight
Kim: Content creator customers churn faster and have smaller deal sizes
“What we were serving before, like a lot more of the content creator space. It was just a more difficult mark to find. And we found that the size of these customers tended to be much smaller. So you would have to get more velocity. Under your belt in order to d…”
Insight
Kim: Equity suits acquisitions while debt better finances headcount growth
“If I wanted to go buy a bunch of companies and start acquiring for companies, then I'd probably go take a raise out, right? Because that makes sense. But if I'm looking to grow the company and start adding head count, I think it's much easier to take in 500 50…”
Disclosure
Kim: Sendlane pays sales reps 40% of first month or 5% annually
“If they come in monthly, they get 40% of the first month's payment and then they bring them annually to get five percent of the Entire annual chunk.”
Assertion Not checkable as stated
Kim: Sendlane converts 60% of sales demos into closed deals
“We've been on pace right now. We're closing 60% of our demos. So, when we get on a demo we'll close at 60%.”
Assertion Not checkable as stated
Kim: Sendlane infrastructure ownership eliminates per-email sending costs
“We own our own infrastructure, so we don't care. It doesn't actually cost us more money to send more emails out outside of simple server usage.”
Assertion Not checkable as stated
Kim: Sendlane cut CAC 3x by promoting educational content over product demos
“Instead of going out and trying to advertise the product or advertise the demo, we started advertising content, really high value, good content, actionable. And basically we were able to drive our cost per acquisition down by
Almost three X.”
Assertion Not checkable as stated
Kim: Sendlane's monthly churn rate is slightly above 6%
“It's about a little over six percent right now.”
Assertion Not checkable as stated
Kim: Sendlane maintains a five-minute customer service response time 24/7
“An average customer service response time in most industries, about eight hours, right? Ours is five minutes, 24 hours a day. It's 365 days a year.”
Assertion Not checkable as stated
Sendlane crossed $420,000 in monthly recurring revenue in August 2020
“We crossed a little bit over 420,000 dollars.”
Disclosure
Sendlane took on multiple venture debt tranches from Lighter Capital
“Yeah, actually, we actually use debt to you know, we've been with lighter capital a couple times now with a couple different tranches, actually just as recent, recently as the company kind of exploded this year, a lot of our growth happened in 2020 this year, …”
Disclosure
Kim: Sendlane pays Lighter Capital 8.5% to 9% of monthly revenue
“For us with lighter than we worked with them, it's a three-year term, right? It's revenue based. So it's based on your revenue and it's tiered buckets based around your revenue. And it, Depending on how much you're making, they're taking a percentage up to abo…”
Disclosure
Kim: Sendlane's revenue-based debt carries a roughly 1.3x repayment cap
“I think for us, it's like a 1.3 per 1.3 X roughly. So essentially over a three year term, we're going to pay 1.3 times more than we take took in as money.”
Assertion Not checkable as stated
Kim: Sendlane has roughly 1,650 customers
“We have about 1650 customers roughly.”
Assertion Not checkable as stated
Kim: Sendlane customers pay roughly $255 per month
“They're paying about 255 bucks. Roughly a customer now.”
What-if
Kim: Sendlane burned $500,000 building its failed first sales team
“And I kicked myself because I wish I would have figured that out before a year ago. And I would have saved probably half a million dollars of burn that I spent you know, trying to grow that sales team and losing it.”
Disclosure
Kim: Sendlane sets sales representative quotas at $4,000 new MRR monthly
“His MRR was right, roughly 4000 dollars. That's what he needed to hit.”
Assertion Not checkable as stated
Kim: Sendlane sales reps average $8,600 ACV on closed deals
“The sales team right now is running about 8600 dollar ACV right now on their closed deals.”
Assertion Not checkable as stated
Kim: Sendlane's enterprise tier hits 105% net retention despite 17% logo churn
“Overall churn, entire company running about four percent on the revenue churn, about eight percent on the logo side on overall company, but if we hone down on the revenue where the sales team's operating, which is what we call our pro or enterprise level we're…”
Assertion Not checkable as stated
Kim: Sendlane acquires content leads at $2-$3, converting 10% to SQLs
“We're driving leads at about two, three dollars a lead. That's what we're holding up leads at. And then from there, we're getting about one in 10 as a sales qualified lead. And then naturally we're bringing one in 10 of those people 10% of those people are act…”
Disclosure
Kim: Sendlane targets a maximum CAC payback period of eight months
“Eight months. Eight months is my goal is my mindset of goal. Like max, I want to go to eight months payback.”
Assertion Not checkable as stated
Kim: Sendlane's average customer pays $23 per month
“Right now it's 23 dollars.”
Assertion Not checkable as stated
Kim: Sendlane has been 100% bootstrapped since launch
“100% bootstrapped from the day we started.”
Assertion Not checkable as stated
Kim: Sendlane reached profitability almost from its first month of hiring
“We put our money in initially to build the platform out, and the moment we started hiring people, we were actually profitable from almost the first month in.”
Assertion Not checkable as stated
Kim: Sendlane currently has 6,500 active paying customers
“Active customers, we have 6500 right now.”
