Steve Petersheim, founder of B2B workplace software Manageable, explains how the startup operates without in-house technical co-founders.
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“Neither one of us is engineers. So we're non-tech founders, right? So we had to, we have to contract out all the development.”
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More from Steve Petersheim
Disclosure
Manageable's uncapped note has mandatory conversion at $300k raised
“We don't have a cap. We just have mandatory conversion which is if we, when we get to 300,000, then we have a mandatory conversion. Either 300,000 or December 31st 25 is our minimum... If I, if we raise 300,000 dollars, then that man, then that creates a conve…”
Steve PetersheimOct 7, 2023▶ 6:37Economics of a $37,500 Pre Seed Uncapped Convertible Note
Disclosure
Manageable funded early development by selling annual subscriptions for unbuilt software
“We came up with an idea, we called it a pioneer plan. And so we hit our networks, our, you know, personal networks, and we offered everybody a deal. We said, look, if you are willing to pay for a year in advance, and we didn't even have the software built at t…”
Steve PetersheimOct 7, 2023▶ 9:17Economics of a $37,500 Pre Seed Uncapped Convertible Note
Disclosure
Manageable currently has exactly three paying customers and one free account
“So we have three accounts now, one free and three paying accounts. So we have a little bit of revenue.”
Steve PetersheimOct 7, 2023▶ 3:57Economics of a $37,500 Pre Seed Uncapped Convertible Note
Disclosure
Petersheim: Manageable charges $8 per employee per month
“So we are, our rate right now is essentially eight dollars per employee per month. So a 50 person company, Is going to be paying, you know, about 400 a month.”
Steve PetersheimOct 7, 2023▶ 4:10Economics of a $37,500 Pre Seed Uncapped Convertible Note
Disclosure
Petersheim: Manageable's three paying customers have 50, 20, and 4 seats
“So the first company is 50, then we also have one that's 20, and then a very small one that's four, so.”
Steve PetersheimOct 7, 2023▶ 4:28Economics of a $37,500 Pre Seed Uncapped Convertible Note
Disclosure
Manageable's $37,500 initial seed money came from Petersheim's former employer
“37,037 1500 total... That was in 2019. So that was when I launched. Essentially, that was the initial seed money, which came from my former employer.”
Steve PetersheimOct 7, 2023▶ 6:06Economics of a $37,500 Pre Seed Uncapped Convertible Note
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