Bak: Early TabSuite customer paid $1,000 via check at a restaurant
Unat Bak · How he sold his $1m business for $20m Last Week · Aug 22, 2022 · at 5:20
Unat Bak shares how TabSuite took in its early revenue from an investor using the due diligence platform during early 2020.
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“It was one of the first customers was a thousand dollars processed As a check handed over a restaurant table.”
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More from Unat Bak
Bak: TabSuite's $20M exit included $5M to $6M cash, plus equity
“So we, what I was saying is like, because we spent like roughly 500 to, you know, north of 500 K on physical like payments to either vendors, subscriptions, those actual capitalized costs the cash portion of the deal, you know, was roughly like the 10 to 12% r…”
Bak: The reported $20.8M valuation was an MOU price, later adjusted
“Well, that was, yeah, the initial price, the final price got you know, that was the MOU pricing, but then we adjusted slightly to reach like terms more favorable to both parties.”
Bak: TabSuite SaaS pricing ranged from $500 monthly to over $75k annually
“It was a SAS model ranged anywhere from 500 bucks a month, all the way up to sometimes 75 K a year or more.”