Insight
Fischer: "Ambitious" and "performance" language alienates diverse talent pools
“There's much language out there that is a lot of people do not feel addressed because their socialization is different. So if you also write, yeah, we're really an ambitious team and performance is super important. That's all kind of language that only attract…”
Prediction Not checkable as stated
Fischer: Wittyworks aims to reach $150,000 to $200,000 ACVs via seat expansion
“Naturally, we're hoping for the compounding effect that now it kind of starts to expand within the companies, and you know, that will reach ACVs of like 150 to 200,000.”
Assertion Not checkable as stated
Fischer: Swiss convertible notes are typically limited to just $25k
“In Switzerland, when you use notes, it's rather very small notes, like 20 to 25,000. So you would have to raise a lot of notes and that makes it very complicated.”
Assertion Not checkable as stated
Fischer: Swiss pre-seed valuations trail the US by up to $8M
“The pre-seed valuations are like between two million and maybe three million, something like that, where I see when I'm watching out the US, you know, stuff like that can already be at eight, ten million.”
Assertion Not checkable as stated
Fischer: Wittyworks' average contract value is $5,000 to $10,000
“Currently, the average contract values are between, let's say, five and then 10,000, I would say”
Assertion Not checkable as stated
Fischer: Wittyworks serves 32 customers including Microsoft and Intel
“So so 32 customers and some of them really big brands like Microsoft, Intel, Deutsche Bahn so Deloitte, so quite big customers actually.”
Assertion Not checkable as stated
Fischer: Wittyworks generates $23k in monthly recurring revenue
“It's a 23,000 MRR.”
Disclosure
Fischer: Wittyworks reached $23k MRR and enterprise clients with zero ad spend
“Actually, we didn't have any marketing spent so far either. So that's really cool. It's a lot of content marketing we do, but we didn't have to have any paid advertisement.”
Assertion Not checkable as stated
Fischer: Wittyworks converts about 10% of visitors to freemium
“Well, I can tell you that we have a really good rate from our freemium from our visitors to our freemium. That's like a 10%, which is really nice.”
Assertion Not checkable as stated
Fischer: Wittyworks reduced churn from 9% to 2% post-improvements
“I think we brought, at least we brought it down, I would say, before it was like nine percent, and now we've got it down to two percent when we, you know, made some improvements on the product, but it's still not stable, so we're still working on that.”
Disclosure
Fischer: Wittyworks charges $180 per seat annually
“It's a license per year of 180 US dollars per year.”
Disclosure
Fischer: Wittyworks raised a $750k friends and family round in 2021
“We raised capital mid last year with friends and family around. How much did you decide to raise? A 750 U.S. Dollars, 50,000 U.S. Dollars.”
Assertion Supported
Fischer: Wittyworks CTO Lukas was previously PHP's global release manager
“He used to be the global release manager of PHP, so that's also really cool when we, you know, when we're looking for tech talent, it's never a problem to find anyone.”
Assertion Not checkable as stated
Fischer: Three of Wittyworks' four engineers are women
“Four engineers and three of them are women.”
