Opinion certainty 4/5 debate potential 1/5

Lapchick: Free-to-paid in-app conversion was Shotfarm's biggest failure

Mike Lapchick · 1042 "We're selling the company right now" for $10m+ · Jun 1, 2018 · at 21:48

Mike Lapchick, founder of Shotfarm, reflects on his company's operational execution mistakes before agreeing to sell the business.

0:00 / 0:12exact quote · 12.4s
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“I'll tell you where we failed is in the in-app marketing. This is the biggest botched opportunity that we've, that we had was converting the free to paying users, right?”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Mike Lapchick

Opinion
Lapchick: Chicago has the most conservative investors in the US
“The only difference that I would make is that I wouldn't do it in Chicago. I wouldn't fund it in Chicago. It's the most conservative bed of investors in the country. These guys are bankers, you know, you go in with that.”
Mike Lapchick Jun 1, 2018 ▶ 11:50 1042 "We're selling the company right now" for $10m+
Insight
Lapchick: Founders Should Sell on the Upside Before Growth Plateaus
“Well, what you look for is, is you look at your growth trajectory, right? You look for that hockey stick or anything that approximately is a hockey stick. And as soon as you can start predicting when the plateau is going to occur, you want to sell on, on the u…”
Mike Lapchick Jun 1, 2018 ▶ 6:51 1042 "We're selling the company right now" for $10m+
Assertion Not checkable as stated
Lapchick: Shotfarm's average customer pays $1,200 per month
“Our average MRR is 1200 a month.”
Mike Lapchick Jun 1, 2018 ▶ 3:21 1042 "We're selling the company right now" for $10m+
Assertion Partly supported
Lapchick: Shotfarm Raised $10M While Competitor Salsify Raised $57M
“So and then, so we raised 10, we got competitors in now at fifty-seven million in funding.”
Mike Lapchick Jun 1, 2018 ▶ 8:13 1042 "We're selling the company right now" for $10m+
Assertion Not checkable as stated
Shotfarm Maintains Negative 0.5% Monthly Net Revenue Churn
“Right now we are at negative half a point.”
Mike Lapchick Jun 1, 2018 ▶ 15:20 1042 "We're selling the company right now" for $10m+
Assertion Not checkable as stated
Shotfarm Has 12,000 Platform Users and Over 100 Paying Customers
“Well, so we have 12,000, we have 12,000 companies using the platform. Not all of them are paying, but more than a hundred are paying.”
Mike Lapchick Jun 1, 2018 ▶ 16:34 1042 "We're selling the company right now" for $10m+
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