Assertion Partly supported
EstateSpace secured $1M in SBA COVID relief despite mass layoffs
“COVID, it gave us almost a million dollars in free money, so We had a lot of people pre-COVID. We let them all go, but the way that they looked, the SBA looked at that was that, okay, they counted us for the 2018, 2019 time when we had a lot of employees, so w…”
Prediction Not checkable as stated
Jonathan Fishback predicts EstateSpace will reach $2M SaaS ARR in 2023
“We'll be about two million dollars in ARR by the end of next year, and it'll all be SAS.”
Opinion
Fishback rejected a $20M acquisition offer, believing EstateSpace is worth more
“I see this company being much more valuable than twenty million dollars, and I was not in a position.”
Assertion Not checkable as stated
EstateSpace converted $4.3M in family debt into 8.5% equity tax-free
“We converted 4.3 million dollars of debt into eight and a half percent equity.
Because Ron is my father and I'm his son the IRS saw that this could have just been simply a contribution.”
Assertion Not checkable as stated
Fishback: Family offices are expanding into lifestyle fulfillment services
“In the last 10 years, family offices specifically have started getting into the fulfillment of the lifestyle of the individual that they're serving, whether it's a single or multifamily.”
Prediction Not checkable as stated
Fischbeck: EstateSpace projects $5M to $6M in profits in 2025
“Our burn rate, it's gonna be close to about four million dollars, and we're gonna see somewhere around five to six million dollars in, in performance and profits in twenty-twenty-five”
Prediction Not checkable as stated
Fischbeck: EstateSpace Will Reach $1M ARR in 12 Months
“I don't know where we'll be in the next 12 months, but I do know that we'll hit a million in ARR.”
Prediction Not checkable as stated
Fischbeck: EstateSpace Aims for 50,000 Members and $27M in 3 Years
“So we hit, you know, 45, 50,000 members over the course of the next three years, which is our goal. You know, we're a twenty seven million dollar company, and we're SaaS, so we're killing it.”
Disclosure
EstateSpace ruled out a Series A due to the exhaustion of fundraising
“So there's no, I've taken that off the table given how exhausting it was to raise some of the money just internally right now. So so no plan, no plans of like a formal series A at this point.”
Assertion Not checkable as stated
EstateSpace onboarded 65 family offices within five months of commercial launch
“Right now we've got about 65 family offices on the platform in the last, when we launched what was it? April 30th of this year.”
Assertion Not checkable as stated
Only 5% of EstateSpace's $2.2M 2021 revenue came from SaaS
“Yeah, it was like no, not zero percent, but maybe five percent of that revenue was SAS revenue.”
Assertion Not checkable as stated
EstateSpace crossed $250,000 in ARR within five months of launching
“So we're probably, we just crossed 250,000 and recurring revenue. In ARR in the past five months since we launched.”
Disclosure
EstateSpace is currently raising a $3.25M funding round
“So I'm, we're raising around 3.25 million.”
Disclosure
EstateSpace is raising an equity round at a $17M pre-money valuation
“So we did we're just, we're doing pure equity sell common stocks and we set a seventeen million dollar free money.”
Assertion Not checkable as stated
EstateSpace maintains over a 90% retention rate for paying clients
“We have over a 90% retention rate for paying clients.”
Assertion Not checkable as stated
EstateSpace's largest single client pays approximately $7,000 per month
“Our largest client is about 7000 of that a month.”
Disclosure
EstateSpace had zero SaaS customers and no revenue on June 4, 2019
“June of 2019, June fourth, I know the day I'm broke. We have, you know, zero real SaaS customers. We're beta-less at the time, so I didn't even have a product that somebody could use. And we had no revenue, right? We're bleeding and we're bootstrapped.”
Assertion Not checkable as stated
Fischbeck: EstateSpace Cut Team From 29 to Six People
“I had 29 people.
I had to fire everyone down to six, two of them in the back of the room with us still right now to this day.”
Assertion Not checkable as stated
Fischbeck: EstateSpace converted $4.23M in contracts to equity at $17M valuation
“We converted 4.23 million dollars of service contracts into equity. We increased evaluation to 17 pre-money when we did that, so I've still been able to hold on to about 55% of the company to this point.”
Disclosure
Fischbeck: EstateSpace faces $880K 12-month shortfall after $775K insider capital injection
“I put in another 500, our shareholders put in another two 75, and now we're to the point where we've got about an 880 K shortfall between now and the next 12 months, and we're gonna bridge that through shareholder milestones.”
Assertion Not checkable as stated
Fischbeck: EstateSpace Needs 4,500 Members to Reach Cash Flow Positive
“We only need to get to 4500 members, and we're cash flow positive, right?”
Assertion Not checkable as stated
EstateSpace serves over 50 families, including multiple billionaires
“So we have over 50 families. We have multiple billionaires on the platform.”
Assertion Not checkable as stated
EstateSpace booked $1.4M in Jan 2021, exceeding 2020's total revenue
“So we did a million in 2020, and we did 1.4 in January of this year, and continue to scale that number up this year.”
Assertion Not checkable as stated
Fishbeck: EstateSpace reached about $175,000 in monthly recurring revenue
“About a 175,000.”
