Assertion Partly supported
Bpifrance startup loans only require repayment if the company succeeds
“It's basically, you need to pay back if you succeed. And for any fundraising, you can actually like get more debt, but if you fail, you don't need to pay back.”
Opinion
Loom's user-centric design limits its ability to expand across enterprises
“I think like one way they build the product being like super just user centric has some limitation in actually like becoming a platform for the entire organization.”
Opinion
Claap founder: Loom is for video sharing, not making decisions
“So, so I think like the main difference with like Loom, Loom, it's more like for video sharing. Like if you want to share like an update, it's like perfect, but it's not like build to basically like collect feedback and make decisions. It's not also, it's not …”
Insight
Founders must launch monetization early to validate product-market fit
“We actually, like, decided to launch it pretty early, not to have a payroll, but at least to monetize the existing user, because for us, it's really a way to assess if you have product market fit, because, like, meaning if people are ready to pay for it means …”
Insight
Founders must handle early product-led sales to test pricing
“Sales, I feel like it's something that the founder must do at the beginning, especially like when you test like a use cases, pricing and all this kind of stuff, because it's a lot of product marketing work that you need to do.”
Disclosure
Claap added $1.5M in Bpifrance debt to its $3M seed
“We add the 1.5 million of debt thanks to like a BPI, which is like the public investment bank such like in total, we got like a 4.5 million.”
Insight
Launching fully free makes introducing paid plans later extremely difficult
“If you launch a product that is like free from the beginning and then you launch the pay plan maybe one year after you, it's going to be like super hard. To do it.”
Disclosure
Claap aims to build a product for anyone in a company
“So like the goal for clap is really to build a product for like anyone in the company.”
Assertion Not checkable as stated
Founders secured term sheets for a $3M seed before legally incorporating
“Yes, but actually like none because like we incorporated the right for the fundraising announcement. Like when we had like the term sheet, we are not incorporated yet.”
Insight
VCs want narratives about category creation, not just new products
“I think, like, what this is like is when you come with, like, a strong narrative, which is not about, like, creating a new product, but, like, creating a new category.”
Insight
Category creation requires linking your brand directly to the customer's enemy
“One of the key when you want to build like a category is that you need to own the problem. Like you need to kind of build the cognitive link between like the enemy, like the prime in our case, like back to back meetings. And the category so that like people, w…”
Assertion Not checkable as stated
Claap gained 3,000 signups in six weeks from Product Hunt
“But then in total with the launch, I would say like the effect of the launch, it lasts around like six weeks. And in six weeks, we got around 3000 new sign up. Thanks to the launch.”
Assertion Not checkable as stated
Claap converts up to 20% of signups into activated users
“The way we define activated user is to clap recorded. Today the activation rate we have is in between 15 to 20%, which is really definitely something we need to improve.”
Assertion Not checkable as stated
Claap retains up to 75% of activated users after 12 weeks
“But then the retention rate we have it's around like a 70 to 75% after 12 weeks.”
Disclosure
Claap customers pay an average of $200 to $300 monthly
“Per month, I would say they pay in average between like 200 to 300 monthly recurring revenue.”
Disclosure
Claap generates approximately $5,000 in monthly recurring revenue
“So you're doing about 5000 dollars a month today in revenue, right?
Pierre Touzeau: Exactly.
Yeah.”
Disclosure
Claap raised a $3M seed at a $17M pre-money valuation
“I think it was around 17 in the last, it was around 17.”
Disclosure
Pre-revenue Claap claims 100 MAUs and 3,000 waitlist signups
“No, we are still pre-opnew. We launched the private beta actually like around like one month ago. And right now it's really close private beta. And we have like around maybe I would say like monthly active users around like 100 monthly active users, around lik…”
Disclosure
Claap spent roughly $150,000 to $200,000 building its MVP
“Not a lot, to be honest. I think maybe 150 200.”
Disclosure
Claap plans to charge $10 to $20 per month per creator
“No, I think it will be like somewhere between like 10 to 20 dollars a month per video creator.”
Assertion Not checkable as stated
Claap secured 15 term sheets in three weeks to raise $3M
“We had, like, one term sheet in a few days. And in three weeks, we had, like, 15 term sheets. And that's how we basically went from, like, 500 K to three million.”
Assertion Open · timeframe Sep 2021
Claap raised its $3 million seed round at $14.5M pre-money
“The valuation, like, pre-money was around, like, 14.5 million.”
Disclosure
Claap founders tested 20 existing products as surrogate MVPs before building
“So basically like what we did some consulting missions and the idea was to take maybe like the 15, 20 different like products on the market and test them as if it was like our own MVPs.”
Disclosure
Claap drove waitlist growth via a viral meeting calculator on Product Hunt
“So one of the things we did, for example, was to launch a meeting calculator. It's on our website as well. And basically like you connect your Google calendar, and then you are going to see a lot of like stats around like your number of meetings, like the type…”
