Matt Weirich is the co-founder and CEO of RealLink, explaining why their valuation was $22 million despite later revenue growth.
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“The, that was actually the high end of the valuations that we were getting in the thick of it, obviously. So we did that round. We closed it in October of last year. And so we weren't at 4.5 yet at that point.”
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More from Matt Weirich
Disclosure
RealLink raised $16M at a $22M valuation from Susquehanna Growth Equity
“About 16 out of 22.”
Matt WeirichMay 12, 2021▶ 21:19Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Insight
Weirich: Usage-based pricing led customers to minimize platform usage
“Early on when we launched our company, we actually charged based on usage. And what we found very quickly was that the only result that drove was teams trying to minimize their usage.”
Matt WeirichMay 12, 2021▶ 5:20Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Insight
Selling B2B real estate tech agent-by-agent is a failed GTM strategy
“We realized very quickly that was not a B to B go to market strategy. Brokerages did not want to pay for technology for their agents. And so we had to sell agent by agent by agent. And it just was not an easy or feasible go to market strategy for a startup.”
Matt WeirichMay 12, 2021▶ 9:55Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Disclosure
RealLink sales reps carry a $600K quarterly ARR quota
“And so we've really settled of a goal quota of Around a 180 properties per quarter, give or take... So if they're adding a 180 properties, rough, Matt, we could expect them to do about 600,000 ARR.”
Matt WeirichMay 12, 2021▶ 18:35Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Disclosure
Secondary liquidity comprised two-thirds of RealLink's recent funding transaction
“So out of the twenty two million valuation, secondary was probably call it two thirds.”
Matt WeirichMay 12, 2021▶ 21:01Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Disclosure
RealLink: Average property pricing is around $325 per month
“So the average price point for Relink is right around that three 25 per month. And that's unlimited live video tours, pre-recorded video tours, cloud storage, integrations, all of that.”
Matt WeirichMay 12, 2021▶ 4:44Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
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