Opinion
Sheth: RecruiterBox is the best self-serve product and competitors suck
“The competitors suck. I mean, on, in the self-serve category, I think we are the best product.”
Disclosure
Sheth refuses to force RecruiterBox legacy monthly users onto annual plans
“I just, we kind of made them a promise six years ago. Now I don't want to go back on it.”
Disclosure
Sheth: RecruiterBox will only raise capital if cash becomes a bottleneck
“We should only raise money if money becomes a bottleneck to what we truly need to do. And right now it seems like we are fine and it's just taught us to be more efficient.”
Insight
Sheth: Applicant tracking SaaS lacks constant utility of payroll or accounting
“And the thing is that we realized that an applicant tracking software is not like an accounting or payroll software. See, every five-person company, even if, like, let's say you have four, five, or 10 people working with you definitely need a payroll software.…”
Insight
Sheth: Ad efficiency tapers off non-linearly as spend increases
“The efficiency of ads tapers off over time and over, over dollar amounts. So it's not like 30 plus 30 is 60 and 60 plus 60 is one point. It doesn't add up that way.”
Disclosure
Sheth: RecruiterBox hires new AEs only when demo capacity is strained
“In fact, the math is that only when we are consistently hitting One, 20, like consistently hitting over a hundred demos, we'll add that 30. Consistently hitting over a 140 demos, we'll add that 40. So we will let it break at the seams a little bit.”
Assertion Not checkable as stated
Sheth: RecruiterBox reached $1M and $2M revenue in first three years
“Two, three years down the line, we hit that first million and then two million.”
Assertion Not checkable as stated
Sheth: RecruiterBox ARR is in the mid-single-digit millions
“We are in the mid, mid point on the journey towards 10. So we are in mid, mid single digit millions.”
Assertion Not checkable as stated
Sheth: RecruiterBox was at roughly $2.8 million ARR in early 2017
“So a year ago, we were roughly at about 2.8.”
Assertion Not checkable as stated
Sheth: RecruiterBox average customer value is $250 monthly on annual plans
“They're currently paying about two 50. That's what it's moved up to. And it's all annual plans mostly.”
Assertion Not checkable as stated
Sheth: RecruiterBox CAC is $1,500 for $3,000 annual contracts
“We spend about 50% of this 3000 a year on, on a cap. That's a customer acquisition cost. It's 1500 dollars per customer.”
Assertion Not checkable as stated
Sheth: RecruiterBox spends $30,000 monthly on ads with one-month sales cycles
“Our sales cycles are also quite short. They are between three and six weeks is the range, right? So you can say that on the, it's about like a month, the sales cycle. And to answer your question, you're spending about 30,000 a month on paid marketing.”
Assertion Not checkable as stated
Sheth: RecruiterBox maintains over 1,500 legacy monthly subscribers
“Well, but I'm still carrying more than 1500 customers on the little monthly plans.”
Assertion Not checkable as stated
Sheth: RecruiterBox achieves 89% year-over-year total customer retention
“Year over year, we got, we had like 90%, 89% that we you know, retain 89% of the customers, so. Again, sorry, the 89% again is on a total level including the monthly guys.”
Assertion Not checkable as stated
Sheth: RecruiterBox generated only $30,000 in total revenue in 2011
“Yeah, 2011 was just 30,000 total annual.”
Disclosure
Sheth: RecruiterBox has about 500 customers on target annual plans
“About 500.”
