Federspiel: Blackthorn makes roughly $1M annually from its Stripe revenue share
Chris Federspiel · Pivot City! How we pivoted 6 times on our way to $20m in revenue · Apr 28, 2023 · at 9:09
This episode carries Chris Federspiel's own address, with nobody on the show putting questions to them. It still counts as said, and it is kept out of every score on their page.
Chris Federspiel, founder of Blackthorn.io, discusses how building a Stripe integration on the Salesforce AppExchange created a significant non-subscription revenue stream.
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“And now we're making somewhere in the vicinity of like a million a year off of that partnership, where our customers don't get charged.”
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“So, we were at 550 K ARR. I said, hey, you know, what do you guys want to sell this thing for? They said six X, and I said, okay, that sounds fair. So it ended up being like three and a quarter million. And so we did 1.2 million down payment. We didn't have th…”
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“So we do one percent of our revenue goes to Stripe Climate. I think this goes into my own personal interest, but part of our building of our company culture. We've given away a 120 K to date, and for a company that's not yet even break even”
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“Our payments app is now two and a half times more expensive, but the biggest customer we had for the longest time was a hundred K a year. We recently sold one that's a million a year for a really, really big deployment doing mobile payments.”