Insight
Software providers should not take revenue share on existing B2B volume
“So we shouldn't be charging a revenue share on that business because they've earned that business themselves, right? So that's why we do a fixed model in the B to B space.”
Assertion Contradicted
Google's EMEA VP Ronan Harris joined Kumo's board
“The MD of Google for Europe. It's just joined our board as well. And VP of Mia, Ronan Harris.”
Assertion Not checkable as stated
Migrating enterprise customers from Magento to Kumo takes up to three months
“We have lots of customers who switched and migrated from Magento, for example which would take, you know, six weeks to three months.”
Insight
Enterprise e-commerce sales reps must close 10 to 15 deals annually
“For a sales guy to be profitable in this business, you need to be doing 10 to 15 deals a year. They need to be doing a minimum of 10 to 15 deals a year.”
Disclosure
Kumo funded early development using liquidity from its sister agency
“We hadn't actually raised any finance Up until last year. Because we had our sister company, which was profitable, we've been investing the liquidity through that business in the Kumo software business.”
Disclosure
Kumo is raising a $2M convertible note ahead of institutional round
“So it's a small round of a couple of million that we're taking in with a view to a much larger round.”
Disclosure
Kumo charges $20k to $50k setup fees for 6-to-12 week onboarding
“There's a setup fee, ah, so the setup fee can be anywhere between 20 and 50 K, and that covers the onboarding process, which is typically six weeks to three months.”
Disclosure
UK supermarket giant Morrisons is a recent Kumo customer
“Morrison's is in, you know, the largest supermarket, one of the largest supermarket chains in the UK. Their recent customers just come on board, and that can take six to nine months, right? They're a big nine billion dollar company.”
Disclosure
Kumo takes a 1% to 3% GMV cut on B2C contracts
“One to three percent.”
Disclosure
Average Kumo clients do $250K to $5M GMV, growing 25% annually
“Most of our customers are growing 25 to 40% in terms of GMV annually. Most of them are, you know, doing between two hundred and fifty and five million bucks a year.”
Assertion Supported
Kumo hired the executive who built Shopify's channel partnership structure
“So we recently actually just hired the head of channel for Shopify and who originally set up the whole Shopify structure.”
Assertion Not checkable as stated
Kumo's customer acquisition payback period typically takes 6 to 12 months
“It's between six months to 12 months, Nate, and typically it takes on the payback.”
Assertion Not checkable as stated
Kumo and its sister agency Zero Grey combined generate $20M annually
“Overall the company is turning over about twenty million between Zero Grey, which is our managed service business, and the Kumo business.”
Assertion Not checkable as stated
Kumo generates approximately $5M in annual turnover
“Kumo is turning over around five million.”
Assertion Not checkable as stated
Kumo processed $35M to $40M in GMV over the past year
“The total GMV has been about 35 to forty million.”
Assertion Not checkable as stated
Kumo customers typically retain for a minimum of five years
“It's high cost of acquisition, but they typically stay for five years minimum, and we have customers who are staying a lot longer than that.”
Assertion Not checkable as stated
Kumo's annual revenue run rate was $1.5M one year prior
“Yeah, so we were started off, we were at a million and a half.”
Assertion Not checkable as stated
Kumo has scaled to about 350 total customers
“So we have about 350”
Assertion Not checkable as stated
Direct sales currently account for 70% of Kumo's revenue
“But right now, 70% of our sales is coming through direct sales which is, A long sales cycle for mid to large enterprise clients.”
