Opinion
Levitin argues raising a large VC round forces non-organic growth
“Raising a VC, a big VC round will not be healthy for us. It will put some pressure on the company, which will kind of push us into growing in a non-organical way, because we've built this very delicate balance between the team members and how we grow.”
Insight
Levitin tells founders to build SaaS because other models do not compound
“12 years ago, start with SaaS. Everything else does not compound.”
Assertion Not checkable as stated
Levitin says Crazy Lister completely failed at Facebook paid acquisition
“We could not succeed with anything on Facebook, no matter how focused were we in our targeting.”
Insight
Levitin says cohort analysis shows highest-paying customers retain best
“And we understood, I mean, by studying the churn cohorts, we understood that the best customers by far are the highest paying customers.”
Disclosure
Agencies failed, but an in-house expert cracked paid acquisition ROI
“Until like six months ago, I was under the impression that it is not possible to have a positive ROI on on paid acquisition. Cause I've never seen it in, this is my first, second company and I've never seen it work. And we we've tried external agencies. We've …”
Insight
Scaling ad spend within the eBay seller niche will degrade CAC
“We are laser focused on making the lights of eBay seller much easier, but you know, there's an X amount of eBay sellers out there. So yeah, Even if you want to pour in more money, we will lose the focus in terms of conversion. I mean, our CAC will go up. So we…”
Assertion Not checkable as stated
CrazyLister churn drops from 40% in month one to 2-3% monthly
“We lose about 40% after one month. That's what you call a, let's call it a paid trial. And then after that, we are at a pretty good churn of about two, three percent per month.”
Assertion Not checkable as stated
Levitin: CrazyLister is growing month-over-month revenue by around 15%
“Oh no, we feel that we, with the with the rate that we grow, the month over month growth that we have around 15%, we feel that we already exceeded the valuation.”
Assertion Not checkable as stated
Crazy Lister passes $1M ARR and $80K MRR
“So we have recently hit one million in ARR. So we are exceeding 80,000 in MRR.”
Assertion Not checkable as stated
Crazy Lister reaches 3,500 paying customers
“So we've just passed at 3.5 thousand customers paying customers.”
Assertion Not checkable as stated
Crazy Lister achieves a 1:8 CAC to LTV ratio
“And we've managed to get to this fantastic number where we get our CAC to LTV ratio is one to eight.”
Assertion Not checkable as stated
Crazy Lister pays $80 in customer acquisition cost
“Oh, sure, a new customer, crazy list, it costs us 80 bucks.”
Assertion Not checkable as stated
Crazy Lister is growing revenue at 15% month-over-month
“With our current growth rate, which is about 15% month over month.”
Disclosure
Crazy Lister will prove non-eBay traction before raising small round
“So what we decided to do is to first prove traction beyond eBay, and then raise raise not that big of a round from smaller investors to sustain this growth.”
Assertion Not checkable as stated
Crazy Lister achieved positive cash flow in March 2017
“Yes, we've just hit cash flow positive actually last month in March.”
Assertion Not checkable as stated
Crazy Lister scaled monthly paid acquisition spend to $15,000
“Actually, when we began, our budget for this was 5000 a month. And over the months when we became more and more confident about this job and the data brought in, So we raised it to seven, then to 10, and now it's 15.”
Disclosure
Crazy Lister sees 3% churn on premium plans versus 10% on basic
“So the chore for the forty-fivers is about three percent, and the chore for the private sellers, those that pay us nine dollars a month, is around 10% a month.”
Assertion Not checkable as stated
Levitin: CrazyLister monthly ARPU is around $15
“ARPU is around 15 dollars a month.”
Assertion Not checkable as stated
CrazyLister hits $25,000 MRR and $40,000 total revenue in August 2016
“If you count the revenue, we did about 40 K in revenue in August. If you're talking about MRR, that's 25 K.”
Insight
Levitin: Creating new product listings is CrazyLister's primary retention metric
“The number one metric for us is for users to keep creating new product listings with crazy lister. So this is the one metric that we follow.”
Disclosure
CrazyLister targets a customer acquisition cost of $70 or below
“Well, we aim for anywhere around 70 dollars and below.”
Disclosure
Levitin: CrazyLister raised equity round at a $3.5M pre-money valuation
“We raised a 3.5 prem money.”
Prediction Not checkable as stated
Levitin: CrazyLister will hit breakeven on existing funding
“We should be hitting break even with the investment that we've raised.”
Opinion
Levitin: Operating in tech business without coding is like not speaking English
“Well, business life, I would teach myself how to code. I really feel like not knowing a language, not knowing how to speak English without coding.”
