Szczerba: Data products should avoid seat-based pricing to maximize customer value
Victor Szczerba · 832: SaaS: Machine Learning and AI for Re-Engaging Customers, $250k ACV and $1.5m Raised · Nov 3, 2017 · at 2:58
Victor Szczerba is the co-founder and CEO of Yeti Data, an enterprise virtual data warehouse platform.
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“In fact, we love universal usage of our data with inside of a customer, right? The more they use, the more valuable we are to them. And so we don't want to put in any kind of artificial barriers and saying, oh my God, there's only this many people get these reports, et cetera.”
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More from Victor Szczerba
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“Quite frankly, we see professional services revenue as a fail.”
Szczerba: $1M ARR will secure a $15M to $20M Series A valuation
“I think a good AIR at a million bucks is gonna get us a really nice Series A. Where you're selling 10, 20% of the company in good terms? 10, 20% of the company in good terms, you know pre-money valuation between the 15 to twenty-ish.”
Yeti Data offered a 30-20-10% decaying discount on its convertible note
“So, 30% discount if you discount, if you came in in the first 30 days of fundraising, then 20% in the second day, and then 10% after that.”
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“Average customers is paying us around two 50 to 500 K a year.”
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“Machine learning is something very, very specific, and not very hocus pocus, right? I mean, machine learning was something that I don't know, Actuaries inside the insurance industry have been using for, you know, a hundred years.”