Schoenfeld: Siftrock Has 99.5% Gross Dollar Renewal Rate
Adam Schoenfeld · 1202 He Raised $20m+ in First Company, Now Bootstrapping in B2B Sales Tech Space, $1m in ARR · Nov 8, 2018 · at 17:22
Adam Schoenfeld shares customer renewal metrics for his bootstrapped B2B sales automation platform, Siftrock, on Nathan Latka's podcast.
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“If I just look at everybody who's renewed over the last 18 months, we have a 99.5% dollar gross renewal rate”
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More from Adam Schoenfeld
Schoenfeld: Calculating LTV on early SaaS cohorts is completely useless
“I don't think about LTV and SAS. I just look at the CAC ratio and then the, and the payback period. Cause I think when you start doing LTV on a half a percent of churn on an early cohort, it's like your LTV is a hundred years or something.”
Schoenfeld: Bootstrapping is better than venture capital for many businesses
“I'm not, like, violently opposed to the VC model. I just think there's lots of businesses and lots of opportunities to you know, take a different approach, to take a more, a little bit of a slower, kind of more intentional approach to kind of the market, and t…”
Schoenfeld: Siftrock would reject a $5 million acquisition offer today
“Not for five. I mean, everybody's got some number, right? I'm not going to share it on your show here, but I think we are building the business as if we're going to be doing this in And if those conversations happen, like we'll, we'll entertain them.”
Schoenfeld: Siftrock reached $1M ARR bootstrapped with 5 employees
“I mean, a six employee, we just hired our sixth employee. So you know, functionally a five employee company reaching a million of ARR on zero capital.”
Schoenfeld: Siftrock cap table gives him true co-founder equity
“No, no, I'm a true co-founder in that sense. I mean, obviously we tilted it a little bit for, you know, him and the sacrifices he's made, but it's a, it would be a typical, you know, if we had started the company and I had to pay for that, right?”
Schoenfeld: Siftrock grew from $100K to $1M ARR in 18 months
“I mean, we went, we, it took us 18 months to go from basically a hundred K to a million of AOR. So, you know, when I came in, we were about a hundred K of just what he'd cobbled together. And, you know, we just crossed the 1,000,018 months after.”