Insight
Hoppe: Accurate contact data is more essential than advanced sales software
“I can sell without a CRM. I can sell without intent data. I can sell without conversational intelligence. These are wonderful technologies. I can sell without a sales engagement tool. I just need a spreadsheet, and I have to have the contact information for my…”
Assertion Not checkable as stated
Hoppe: 40% of sales prospecting contact data is inaccurate
“40%, we're finding about 40% of contact data that reps use to prospect is inaccurate. It's a shocking statistic, but it's real.”
Assertion Not checkable as stated
Hoppe: Modigi spent zero dollars on marketing
“We've spent zero dollars on marketing.”
Assertion Not checkable as stated
Hoppe: Majority of Modigi revenue comes from companies worth over $1B
“So the majority of our revenue as a new company comes from companies that are worth over a billion dollars.”
Disclosure
Modigi uses 3-month performance exit clauses on 12-month enterprise contracts
“We're a SaaS that has a 12 month subscription. That's our typical contract. But if our buyer says, listen, I need, you know, I need assurances that, that if you shit the bed, that we can get out. So, on occasion, we will, we'll do a three-month contract where …”
Disclosure
Modigi dropped a $150k deal to $99,999 to bypass procurement sign-off
“A cybersecurity company we're working with, we had about a hundred and 50,000 dollar deal on the table. And if you recall that ended last quarter You know, POs that anything had like 50,000 or 100,000 had to go to a higher level of authority. And so, our procu…”
Disclosure
Hoppe refuses to give up Modigi equity to venture capitalists
“I'm not giving up equity to VCs.”
Prediction Not checkable as stated
Hoppe predicts Modigi will generate $3M-$4M EBITDA in two years
“I can spit off three to four million of EBITDA over the next two years, and I feel really good about that.”
Insight
Sales Tech Stacks Are Useless Without Accurate Contact Data
“What we're saying is the most essential tool is overlooked, is, is the, if I don't have the right contact information to reach my likely buyer,
None of the tech stack matters.”
Insight
RevOps, Not Sales Leadership, Is the True Buyer for Data Software
“And I originally thought our buyers were sales leaders. Well, our true buyer is rev ops. So revenue operations has that analytical brain where they're thinking, you know, so they're by, they're reporting the CRO and they're reporting to the CFO. So they think …”
Assertion Not checkable as stated
Modigi Hit $1.7M Revenue With Zero Dollars Spent on Marketing
“We, we've spent zero dollars on marketing. It's all been just brute force and word of mouth is where our leads come from.”
Assertion Not checkable as stated
Outbound BDRs Waste 10% to 20% of Outreach on Former Employees
“What we often find is BDR reps that are doing large volume outbound are oftentimes chasing or pursuing 10 to 20% or more of the prospects that don't even work at the target company.”
Assertion Not checkable as stated
Building Modigie Cost $300k Versus an Estimated $3M Five Years Ago
“So our application all in probably is just under 300,000. If you, five years ago, that might've been. To build it. That might've been a three million dollar a bill.”
Assertion Not publicly verifiable
Modigie's Co-Founder Grew a Previous Solo Company to $120M Without Funding
“Keith's former company, he grew from himself to one hundred and twenty million in revenue. With zero funding.”
Assertion Not checkable as stated
Hoppe: Modigi was profitable in both 2021 and 2022
“In 2021, we made profit. In 2022, we made profit.”
Disclosure
Hoppe: Modigi accepts $25k to $50k land deals during budget consolidation
“There's a lot of consolidation in, in, in budgets, so I'm willing to take smaller deals that are maybe 25% of the size, 25,000 dollar deals, 50,000 dollar deals, just to get the insertion.”
Assertion Not checkable as stated
Hoppe: Audit showed 68% bad phone numbers at $25B enterprise firm
“Here's an example of a twenty five billion dollar cloud services company. They thought that mobile phone coverage is what our big bet is, right? That's what we're specialized on. That they had 28% mobile phone coverage. They didn't understand. They thought it …”
Opinion
Salesforce Integration Covers 80% of the Market For Modigi
“We sit inside Salesforce. So it gives us coverage of 80% of the market we feel. We're a Salesforce managed package.”
Assertion Not checkable as stated
Modigi's Top Customer Contracts Approach $200,000 in Annual Value
“And our highest paying customers are close to 200,000 dollar ACVs, bookings.”
Assertion Not checkable as stated
Modigi Lands Initial Customer Contracts Exceeding $100,000
“Where we're getting our first orders are over a hundred K, which is hard.”
Disclosure
Modigi Models Platform Fees at 25% of Total Enterprise Contract Value
“The platform fee is, is will be roughly about 25% moving forward. That's how we've modeled it.”
Disclosure
Modigi Aims to Achieve 80% Gross Margins on API Model
“So we're trying to get as close to 80% gross profit while showing true value to the client based on the functionality.”
Prediction Not checkable as stated
Modigi Predicts Closing Three $500,000 Customer Accounts by Year-End
“We have companies that are now, by the end of this year, I, we will probably have Three companies that spend, have spent about a half million with Modigi.”
Assertion Not checkable as stated
Modigi Generated Between $930,000 and $950,000 in Revenue in 2021
“And then we just did a hair under a million. My goal was a million. I think we came in at nine 50 or nine 30.”
