Insight
Moraitakis: Workable avoids enterprise contracts to protect its SMB market lead
“To be honest with you, we're not so keenly interested in million dollar contracts because that would necessarily mean that the product would become less appealing to the smaller customers.
Right now, the way the market is we are the leading player with compani…”
Opinion
Moraitakis: Workable is satisfied with 50% to 60% ARR growth
“So actually we're happy to be at 50, 60% growth. It's the whole picture of the PNL.”
Assertion Not checkable as stated
Moraitakis: Workable reached $10M in revenue without a sales team
“We got to ten million revenue without having a sales team.”
Insight
Moraitakis: Founders should only sell if growth stalls or enthusiasm fades
“You would sell if you don't see yourself doing this five years from now, or you don't see it being much bigger five years from now. But if both of those are true then it's very difficult to sell.”
Prediction Not checkable as stated
Moraitakis: Workable will pass $30M ARR by year-end
“I think it's going to be this year.”
Disclosure
Moraitakis: Workable aims to replace recruiting agencies via flat SaaS pricing
“What we're trying to do is essentially to replace and automate some of what agencies do in the future.
and we felt that following their business model would not send the right message.”
Assertion Not checkable as stated
Moraitakis: Workable operates the world's most popular HR website with 25M uniques
“Right now, I think we have the most popular HR website in the world with about twenty five million uniques a year for HR professionals.”
Insight
Moraitakis: Series C dilution is typically 10% to 15%
“I think in C rounds,
I think typically somewhere below 20%.
It's not like A and B rounds.
It's usually like 10, 15, that sort of thing.”
Prediction Not checkable as stated
Moraitakis predicts Glassdoor is worth far more than $1.2 billion
“Oh, I think that they're going to be worth a lot more than that.”
Assertion Not checkable as stated
Moraitakis: 30% of Workable's monthly new business comes from returning customers
“About 30% of our new business every month It's returning customers, people who hired with us before they left and now they're hiring again and they're coming back.”
Assertion Not checkable as stated
Moraitakis: Workable SMB customer retention reaches 100% after year one
“After year one even for the smaller customers, retention is a hundred percent.”
Disclosure
Moraitakis would reject a $100M to $150M acquisition offer for Workable
“I've been through this conversation so that I know the answer is no.”
Disclosure
Moraitakis: Workable has about 20,000 customers
“We have about 20,000 customers.”
Disclosure
Moraitakis: 75% of Workable customers have under 100 employees
“About three quarters of our customers are companies with fewer than hundred employees.”
Assertion Not checkable as stated
Moraitakis: Workable's prior-year ARR run rate was just under $20M
“Ah, it was, ah, it was about 20, slightly below 20.”
Disclosure
Moraitakis: Workable raised $50 million in its last funding round
“We raised another fifty million last summer.”
Disclosure
Moraitakis: Workable is targeting acquisitions in recruitment marketing and community job sites
“Right now we'll, we're very interested in the recruiting marketing space and what's happening with job sites that deviate from traditional job sites and create communities and have you know, richer audiences in terms of the data, their intent and where you can…”
Assertion Not checkable as stated
Moraitakis: Workable reaches nearly 1.5 million lifetime candidate hires
“About a million, actually, but now it must be nearly about a million and a half.
total hires.”
Assertion Not checkable as stated
Moraitakis: Workable NRR is over 100% for corporate, 85% for SMBs
“If you add expansion, the net revenue retention is above a hundred for annual corporate customers. For the monthly, the small ones, it's about 85%.”
Assertion Not checkable as stated
Moraitakis: Workable CAC payback is 6-7 months SMB, 12-14 months enterprise
“Typically the payback is for the small customers is actually six or seven months, and for the bigger customers is 12 to 14.”
Disclosure
Moraitakis: Workable valued at over $200M in Series C
“A little over 200.”
Disclosure
Moraitakis: Workable operates with an 87% gross margin
“Depends then what margin, because we have margin of 87%.”
Disclosure
Moraitakis: Workable counts 6,000 customers, adding up to 500 monthly
“In nearly a hundred countries right now 6000 customers and adding something like four or 500 every month.”
Assertion Contradicted
Moraitakis: Indeed finds candidates but lacks end-to-end recruiting workflow tools
“Well, Indeed is a job site and it helps you find candidates, but it doesn't help you manage the process, run your career pages, manage your interviews, manage your feedback.”
