Assertion Not checkable as stated
VC offered term sheet on condition founder fire his dad and sister
“I was in his office and he offered to sign a term sheet with me, but he had one provision. He wanted me to fire my sister and my dad.”
Disclosure
Jobscience replaced almost all of its inbound SDRs with an AI bot
“I actually fired almost all the inbound SDRs we had and I replaced them with something called Conversica, which is a, an AI bot.”
Assertion Not checkable as stated
Salesforce made an acquisition offer to buy Copado in 2018
“And they called me and they said, Salesforce is offering to buy us. What do you think we should do? And I'm like, well, Is it a good deal? And they're like, it's a great deal. This was in 2018.”
Assertion Not checkable as stated
Copado grew ARR from $4.25M to $15M in Elliott's first year
“And I think when I walked in the door, we had Four and a quarter in ARR. And you know, we took it from four and a quarter to fifteen million in the first year.”
Assertion Not checkable as stated
Elliott: Copado reaches $40M in revenue after two years
“Right now, Capato is at forty million in revenue after two years.”
Assertion Not checkable as stated
Elliott: 80% of Salesforce DevOps talent lives in 3 Indian cities
“We found out that 80% of the world's DevOps community on Salesforce lives in India in one of three cities. They go to one of three schools.”
Assertion Not checkable as stated
Copado CEO: Net revenue retention is running over 140%
“So we're running 140% plus net revenue retention.”
Disclosure
Elliott: Copado Sets First-Year Sales Quotas at Eight Times Base
“Eight times base is your first year with the three month ramp.”
Assertion Not checkable as stated
Washington Post, Tribune, and IBM offered $12M for Jobscience in 1999
“And the Washington Post, the Tribune, and IBM offered to buy it from me when it was six kids in my parents' attic with a cocktail napkin. For twelve million dollars.”
Disclosure
Founder and father funded company via debt with liquidation preference
“My dad and I have provided debt capital to the business occasionally. But it's always been so that we have a preferred position over all the equity in the event of a total shit show.”
Assertion Not checkable as stated
Jobscience reached $18M ARR building entirely on the Salesforce platform
“We literally went from zero dollars in sales and sales for today. We're about eighteen million.”
Insight
Only 15% of enterprise staffing buyers are actively purchasing in any year
“In our market, we believe 15 to 16% Of the buyers that we're targeting are in active purchase mode in any given year. We think there's about 2500 buyers in that fit, you know, that, that, that we're targeting what 15 or six, there are 250 buyers, maybe 300 buy…”
Assertion Not checkable as stated
Salesforce has no desire to enter the staffing software vertical
“This is not a space Salesforce wants to be in. And it's a subspace within the space. They don't want to be in the staffing industry. We have new corporate and staffing, but it's still not a space they want to be in.”
Disclosure
Elliott: Jobscience sold at over 3x multiple while growing 30%
“So that business was growing at 30%. And you know, it was a multiple that was over three. It wasn't a great multiple, but because the ownership was 70%, Myself, my dad, and my sister it was it was a good exit.”
Assertion Not checkable as stated
Elliott: Jobscience generated roughly $25M in revenue at acquisition
“I think when we sold it, we were doing more like 25.”
Disclosure
Elliott: Copado has penetrated 400 of top 5,000 Salesforce buyers
“We only focus on the top 5000 buyers of Salesforce in the world, and right now, we've penetrated 400 of them.”
Assertion Not checkable as stated
Copado CEO: Company receives multiple weekly inbound offers at unicorn valuation
“I was just, I get calls, multiple calls a week of people who will offer us a
unicorn valuation today.”
Assertion Not checkable as stated
Copado CEO: Customers expand 40% within eight months on average
“On average, you know, our customers come back on average within eight months, and by,
A second set of products from us that are about 40% of the first sale.”
Disclosure
Original 1999 dot-com investors still hold 30% of Jobscience
“So they're with preferred preferences, they're about 30%, but yeah, they, I've carried them the whole time.”
Assertion Not checkable as stated
Jobscience operates at Rule of 36 with 33% year-over-year revenue growth
“I'd say we're rule of 36 right now. We have a little EBITDA lots, it's a SaaS business, so there's not lots of nice positive cash flow, but from an EBITDA standpoint you know, you're talking about three, four percent EBITDA, and then 33, Revenue of the busines…”
Assertion Not checkable as stated
Jobscience has 500 customers, with 80% of revenue in top 200
“No, we have about 500 customers but we have about 80% of the revenue weighted to the top 200.”
Assertion Not checkable as stated
Jobscience maintains annual logo churn of slightly under 12%
“A logo basis is a little less than 12%.”
Assertion Not checkable as stated
Jobscience generates 42% of its revenue outside the United States
“I'm 42% of our revenue comes from outside the United States.”
Assertion Not checkable as stated
Jobscience gets 800 monthly inbounds, but mostly unqualified
“What we've seen from using that tool is that we're generating 800 inbound leads a month, but of those 800 inbounds, four or 500 of them were just not even in the right category for us, either the wrong countries or not large enough as a buyer.”
