Karina Ludwig

President, FunctionFox Systems · 1 appearance on the record.

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Corina Ludwig has led FunctionFox for over two decades, building and scaling the bootstrapped cloud time-tracking and project management platform for creative agencies. Under her leadership, the company prioritized organic profitability, distributing more than $10 million in dividends before its acquisition by Volaris Group.

9statements → 8claims → 0claims resolved → 4/5average certainty → 1/5average debate potential → ≈4.5/5argument clarity, estimated →

8 not checkable as stated how the 8 claims stand · each chip opens the sources

8 assertions · 1 disclosure · every statement was checked. The predictions and assertions are the 8 claims: statements the public record can support or contradict. 0 are resolved, and 8 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 Karina 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 Karina Ludwig on measured tape to publish a rate. This says nothing about how they speak.

What they said9 Episodes1

Everything Karina Ludwig said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Assertion Not checkable as stated

FunctionFox investors have returned 20x their initial money via dividends

“So they've, they want their money 20 times over in some cases.”

Karina Ludwig May 2, 2021 ▶ 7:14 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Assertion Not checkable as stated

FunctionFox has paid out over $10 million in total dividends

“Oh, yeah, definitely. Much more than that.”

Karina Ludwig May 2, 2021 ▶ 7:33 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Assertion Not checkable as stated

FunctionFox runs exclusively on internally built software and operational tools

“So today to run our business, we use nothing but our own internal tools. So not just FunctionFox, but we have our own SMS system, sales management system, CRM system. We do all of our own billing and tracking and anything that we need for our system we've buil…”

Karina Ludwig May 2, 2021 ▶ 5:06 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Disclosure

FunctionFox raised just $500k from friends and family and stopped

“It was a half a 1,500,000 from friends and family. One was a big chunk from sort of one investor that was really a family friend and we haven't raised money since.”

Karina Ludwig May 2, 2021 ▶ 5:48 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Assertion Not checkable as stated

FunctionFox has paid dividends continuously since becoming profitable in year four

“But we've been paying dividends ever since we've been profitable, which was like year four or five.”

Karina Ludwig May 2, 2021 ▶ 8:21 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Assertion Not checkable as stated

FunctionFox took 15 years to hit its first-year revenue projections

“We did projections in our first year and, you know, we were really optimistic. We thought we'd do really well. And I think we hit those projections maybe in year 15. So we were a bit out to lunch in terms of our projections.”

Karina Ludwig May 2, 2021 ▶ 8:38 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Assertion Not checkable as stated

Over half of FunctionFox's 18 employees have tenures exceeding seven years

“So we're 18 strong right now, really a senior team, so a large majority of the senior members have all been there for 21 years, then there's a good chunk that's over 15, More than half the team is over seven. And so yeah, pretty much everyone's over five years…”

Karina Ludwig May 2, 2021 ▶ 9:46 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Assertion Not checkable as stated

FunctionFox serves over 100,000 users across 120 countries without VC funding

“So we won't give exact number, but thousands and, you know, over a 100,000 users. We're in about a 120 countries with the large being in the U S so it's, you know, it's not a, it's not small meat and potatoes.”

Karina Ludwig May 2, 2021 ▶ 12:59 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Assertion Not checkable as stated

FunctionFox annual churn remains under nine percent for post-onboarding customers

“If you look at the companies that have been with us for more than three months then the churn's very stable, right? So it's under nine percent but it fluctuates depending if you're looking at the really small ones versus the big companies.”

Karina Ludwig May 2, 2021 ▶ 15:03 She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool

Appearances (1)

Episode	Date	Speaking time
She Doesn't Want Your VC Check, $10m+ In Dividends Paid Out for Time Tracking Tool	May 2, 2021	11m

Karina Ludwig

The record, in short

How they sound: not measured why? →

Appearances (1)

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