Insight
E-Commerce Chat Spans Pre-Sale and Post-Sale Unlike Other Sectors
“For e-commerce, customer conversations happen pre-sales and post-sales, right? Whereas for a lot of other businesses, potentially chat and support is most of a, like a post-sale nurturing type of relationship.”
Disclosure
Reamaze Has Reached $3 Million ARR at $100 Per Logo
“Yeah, we're doing I think we're doing about a hundred per logo. So we're doing cause we're in the three million dollar revenue range right now.”
Insight
Shopify Ads Are Reamaze's Most Effective Acquisition Channel
“I will tell you though, obviously channel specific spend is the most effective. So in our case, Shopify ad revenue or ad spend is, is the most effective one that we have.”
Disclosure
Reamaze Pays Shopify a 30% Revenue Share For Acquired Leads
“So of the leads that come to us from Shopify, we do pay them the 30%.”
Opinion
Lou Wang: GoDaddy is among the world's largest SaaS companies
“GoDaddy is an interesting company cause they're also in some ways one of the largest SaaS companies in the world. So, you know, people typically think of them as a domains registration and website hosting company. They also have a portfolio of SaaS apps”
Disclosure
Wang: Reamaze would target roughly 10x ARR valuation in a funding round
“It's going to be sort of a, maybe 10 X The ARR, you know, that's in other terms, obviously when you're raising capital, other terms do matter as well, but that's sort of a rough ballpark of what you kind of would expect.”
Disclosure
60% to 70% of Reamaze's Customers Are in E-Commerce
“About 60 to 70% of our customer base is going to be in the e-commerce space.”
Disclosure
Reamaze Serves Just Over 2,500 Customer Logos
“We're doing just north of. 2500 logos or something like that.”
Disclosure
Reamaze Has Reached Around 10,000 Active Seats
“And so I think we're at, in terms of seats, we're at the 10 K range at this point.”
Disclosure
Most of Reamaze's 2020 Growth Occurred in the Previous Six Months
“It would be fair to characterize most of the growth having happened in the last six months or so.”
Assertion Not checkable as stated
Reamaze Generates Nearly 1,000 Monthly Trials From E-Commerce App Stores
“Per, I would say per day, we're in the, like, let's say, 20 to 30 range. Now per month, you'd multiply the other, some probably, probably a little under a thousand, I would say. That's, again, back of the envelope calculation, less on weekends, more on weekday…”
Disclosure
Reamaze Has Not Raised Additional Capital Beyond Seed Funding
“Yeah, we haven't raised anything.”
Disclosure
Reamaze Sees Under 3% Monthly Gross Churn and 10% Gross Growth
“It's gross churn, and then net growth on top of the churn is going to be anywhere from four to seven percent, so we're looking at a gross growth of somewhere between seven and 10% monthly.”
Disclosure
Reamaze is Profitable and Not Seeking Funding Just For Cash
“If we were to raise again, we're profitable, so we're not too concerned about the monetary aspects.”
Assertion Not checkable as stated
Wang: Reamaze serves just under 1,200 business customers
“So we have over a thousand customers. So last I checked, it was right under 12 1200, sorry. And that's businesses.”
Assertion Not checkable as stated
Wang: Reamaze ARR more than doubled year-over-year from under $500K in 2017
“So for example in 2017, I think we were under 500 K A R R and we're over that. So we've more than doubled in since the last year.”
Assertion Not checkable as stated
Wang: Reamaze monthly logo churn is approximately 1.7%
“So our churn, last I looked, I think we're at under two percent. I think it was like 1.7% and that's customer churn.”
Assertion Not checkable as stated
Wang: Reamaze CAC is about $200 per account
“I think it's about 200 dollars per customer. Per account.”
Assertion Not checkable as stated
Wang: Reamaze customer acquisition payback period is about three months
“It's about three months, I believe.”
Assertion Not checkable as stated
Reamaze Operates With a Team of Just 18 People
“We're right under 20. I think I just did a head count recently this month and we were at 18 at the time.”
Disclosure
Lou Wang Holds Slightly More Equity Than His Co-Founders
“So the equity for my two co-founders are the same, but I'm slightly higher than those two without going into specific details on those numbers.”
Disclosure
Wang: Reamaze pricing splits roughly 50/50 between $20 and $40 tiers
“So we have two plans that we sort of publicly list pricing for. And one is on a 20 dollar per seat and the other one is 40 dollars per seat. We have about a fifty-fifty roughly distribution of that.”
Disclosure
Wang: Reamaze raised $500,000 in early funding
“We raised capital at 500 K. Okay, what, why, and when was that?”
Disclosure
Wang: Reamaze operates with a remote team of 15
“The team size is at 15 and that includes, so we have a remote culture here.”
