Assertion Not checkable as stated
Yunus: vFairs reached $30M ARR with no outbound sales team
“Over the next 20 minutes, ah, I will walk you through how we have took Vfares from zero million dollars in revenue to thirty million dollars in revenue without hiring any outbound sales team.”
Assertion Not checkable as stated
Yunus: vFairs generates a 25% to 50% profit margin
“So, you know, all of this revenue, at least 25% to 50% just goes back in profit.”
What-if
vFairs turned away business that could have doubled revenue to $60M
“We, in fact, had to turn away tons of business. You know, this thirty million could have easily been sixty million. I've been not caring about customer support.”
Prediction Not checkable as stated
vFairs expects to hit $40 million in revenue in 2021
“So right now we are at a point where we should be hitting close to forty million dollars in 2021.”
Assertion Not checkable as stated
vFairs generated $30 million in revenue in 2020
“It was around thirty million.”
Prediction Not checkable as stated
Yunus projects 70% to 80% customer retention for vFairs in 2021
“As of now, we are seeing that we will have at least a close, like anywhere from 70 to 80% customer retention and hopefully a hundred plus revenue retention.”
Disclosure
vFairs fielded acquisition offers at 10x to 20x revenue multiples
“We have seen anywhere from 10 times to 20 times revenue. So minimum 10 times, all the way up to 20 times of our revenue is what we have seen so far.”
Disclosure
Parent company Bayt.com owns the majority equity stake in vFairs
“Parent company owns the majority.”
Opinion
Yunus considers vFairs the largest bootstrapped virtual event platform
“I, yeah, I would like to believe that, yeah. I think, I don't think so, you know, when I look at others like Intrado, SixConnects, Hopin, I think, you know, each one of them is no longer bootstrapped, so I would like to believe that, yeah.”
Assertion Not checkable as stated
vFairs surges customer acquisition from 10-12 monthly to 40-50 per month
“When we go back to one 19, we were signing around, on average, you know, between new and renewals, around 10 to 12 customers a day, a month, right? Right now, that has already turned into a week, whereby, you know, rather than 10 customers in a month, we will …”
Assertion Not checkable as stated
vFairs Cannot Serve 80% of Inbound Leads Due to Capacity Constraints
“We are hardly being able to handle 10 to 20% of the incoming leads. So I'm not being able to serve more than 80% of the incoming request, right?”
Prediction Not checkable as stated
Younas: VFairs will approach a $3M run rate within five months
“I think over the next five months it will close, it will be close to three million dollars.”
Assertion Not checkable as stated
Younas: vFairs maintains a 95% renewal rate on annual contracts
“Those who are doing annual essence with us, our renewal rate is close to 95%. So, you know, we hardly lose any customer on the annual essence as of now for the past three years.”
Assertion Not checkable as stated
Yunus: vFairs was profitable within six months of launching
“We started back in 2016. Within the first six months, we were profitable.”
Disclosure
vFairs generates 80k-90k monthly website sessions with a 1% inquiry rate
“For us are, again, just, we typically get around 80 to 90,000 sessions per month on our site, and once we get those sessions, roughly one percent of them translate into inquiries.”
Disclosure
vFairs gets 58% to 60% of web traffic from long-tail keyword research
“So almost 58 to 60% of all of our traffic comes from those 100,000 of keywords that we go and we research through the seven 50 plus interviews that we do every single month.”
Assertion Not checkable as stated
Yunus: vFairs review request email has a 90% response rate
“This email template has 90% response rate. So, hardly anyone would not go ahead and you know, not reply to this email.”
Assertion Contradicted
Yunus: vFairs ranked number one on G2 and Capterra for 12 quarters
“Whether it's on G two or Captera, we'll be ranked number one for almost 12 quarters in a row now.”
Assertion Not checkable as stated
vFairs averages $33,000 in annual contract value per customer
“Yeah, actually I think as of now, our average customer is paying us 33,000 dollars. So that's what they're paying us now you know, for the past five months.”
Assertion Not checkable as stated
vFairs reached over 1,250 active paying customers
“Roughly close to 12 50 plus active paying customers at this point.”
Assertion Not checkable as stated
vFairs revenue run rate was just $2.8M before the pandemic
“It was closer to .4 to 2.8 million dollars.”
Assertion Not checkable as stated
Bulk of vFairs support team operates from Pakistan and Asia
“So, you know, from us to Canada, to Australia, Singapore, et cetera, but bulk of our support is based out of either Pakistan or out of some of the other Asian countries.”
Assertion Not checkable as stated
Every vFairs sales rep generated at least $3M in 2020
“Each one of them have hit at least three million or above last year. So again, in most cases, this is almost, there's no one who have not hit our target. In most cases, they've hit their targets within a quarter or two quarters.”
Assertion Not checkable as stated
vFairs historically achieved 140% net revenue retention
“Historically speaking, it has been close to one 40%. So our net revenue generation historically was one 40%.”
