Assertion Not checkable as stated
Dion slashed Mintent's annual net revenue churn from 57% down to 10%
“Churn, so I inherited, if you can believe it, a 57% churn rate, and I brought it down, it's getting pretty close to 10%.”
Disclosure
Mintent is acquiring a competitor entirely with equity and an earnout
“I'm doing it with equity and earn out.”
Prediction Not checkable as stated
Dion will make the acquired company cash-flow positive by cutting OPEX
“No, actually that's already been done. So the team is actually lean and mean. I'm going to be bringing in less operating expenses than the revenue they're producing. So, so I'm actually bringing them in, in their current state. They're not cashflow positive in…”
Assertion Not checkable as stated
Gshift had $1.5M revenue run rate when acquired by $1M Mintent
“They were doing about a million and a half. So we were doing about a million.”
Assertion Not checkable as stated
Dion: Mintent Cut Core Platform Churn from 57% to Under 5%
“When I took the company over three years ago, we had a 57% churn rate. It was just a completely unsustainable situation, and we brought that churn rate down to less than five percent.”
Assertion Not checkable as stated
Dion: Mintent Added $300K Net New ARR Offsetting 20% Churn
“It would be about 20% because our ARR net new last year was, you know, call it 300,000, and then that's about what the churn would have been, so.”
Disclosure
Matt Dion: Mintent maintains an approximate 12-month CAC payback period
“No, it's about the same. I mean, we're about a one year cap payback.”
Disclosure
Matt Dion: Mintent is raising an equity round in 2020 to ramp up marketing
“This is the year, twenty-twenty, where you know, actually, I'm in the process of doing an equity round to wrap the marketing up.”
Assertion Not checkable as stated
Dion: Mintent improved from $1M annual losses to break-even
“We went from losing, you know, a million and losing a million to, you know, where we're at now, break even.”
Assertion Not checkable as stated
Mintent had one month of cash left when Dion became CEO
“No, no, I came in, ah, we had about a month of cash in the bank.”
Assertion Not checkable as stated
Mintent reaches $1M in revenue across 100 enterprise logos
“We have about 2000 paying individuals. So that's around a hundred companies or so. And we're around a million dollars in revenue.”
Assertion Not checkable as stated
Mintent had a one-year CAC payback of roughly $15,000
“Our CAC payback was about one year, so about 15 grand, but we, you know, we just noticed that all the traditional marketing, you know, whether it's PPC or webinars or going to shows or whatever the, you know, we had more activity because we were investing, but…”
Assertion Not checkable as stated
Mintent is acquiring a competitor that generates more revenue than it does
“They're bigger.”
Disclosure
Acquired target's investors and creditors will join Mintent cap table
“Their investors and creditors stay around because they benefit from the earn out and the appreciation of the of the equity that they're getting.”
Disclosure
Dion: Mintent Generates Roughly 75% of Revenue from Pure SaaS
“Pure SaaS without customers using any services from us is probably, it's, About 75%. Yeah, and then the other 25 is people using our software and our services together.”
Assertion Not checkable as stated
Mintent's top-line revenue remained flat post-acquisition around $2.5M
“Where I would say that from the acquisition to now, if you just look at the top line, we're flat.”
Disclosure
Dion: Mintent will allocate $500K round purely to marketing
“Purely purely marketing.”
Assertion Supported
Dion: Mintent raised a $2M preferred equity round from family office
“There's, there was one round, a large round, two million dollars that was done from a local family office here, and those were pref shares.”
Assertion Not checkable as stated
Mintent historic average contract value was $15K before freemium shift
“Our average order value was about 15,000 dollars per year. And that's coming down because we've now made the product more accessible. At a lower price point.”
Disclosure
Mintent operates with a team of nine people in Vancouver
“So we're all in Vancouver right now. We're nine people.”
