Vivek Kumar describes ClickIt's historical fundraising since 2012.
Disclosure
Kumar: ClickIt did not reset cap table or wash out early investors
“We did not. There was debate about whether to do that.”
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Vivek Kumar: ClickIt receives about 10,000 responses per day
“In total, we across different solution sets we have, we probably get about 10,000 responses a day.”
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ClickIt generates $10k–$20k monthly revenue with $10k recurring
“So total revenue per month is between 10 and 20,000 dollars. About half of that's recurring. So about 10,000 a month in recurring. The new offering that John is talking about in more detail, it's about a thousand a month in recurring. So within three months, w…”
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Kumar: ClickIt had 29% retention in hospitality, zero churn across 3 new clients
“I mean, in our hotel business, it was 29% retention, about 25 paying customers. In this space, the three paying customers to date, zero so far in the three months.”
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Vivek Kumar: ClickIt Burns About $20,000 Net Per Month
“No, we net burns about 20 K a month.”
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Vivek Kumar: Co-Founder John Took Pay Cut for More Equity
“He actually walked the walk. So he agreed to modify his compensation package. He took a severe pay cut and he doubled down on his equity almost more than that.”