Apfelbaum: Ajax Union raised $1M at zero profit on $2M revenue
Joe Apfelbaum · EP 412: 5 Kids, $5 Million 2015 Agency Revenue With Joe Apfelbaum of AjaxUnion · Sep 9, 2016 · at 14:33
Joe Apfelbaum was not on this episode. A recording of them was played into it, so these are their words but not an appearance on Top Founders. It still counts as said, and it is kept out of every score on their page.
Joe Apfelbaum, CEO of Ajax Union, explains the terms under which he raised outside angel capital in 2011 during an interview with Nathan Latka.
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“You know, we were, we had a two million dollar top line and we had zero profit and they were willing to give us a million dollars with a great evaluation.”
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More from Joe Apfelbaum
Apfelbaum: Paid Upwork contractors $2/hour to build targeted lead lists
“I have there's a website. It used to be called Odesk. Now it's called Upwork. And I would just hire people for two dollars an hour to build it for me.”
Apfelbaum: Scaled TheWatchery.com from $3M to $40M in revenue
“I helped them grow from a mere three million dollars to forty million dollars in revenue”
Apfelbaum: Ajax Union generated $4 million in 2015 revenue
“So two, 20 15 revenue was four million dollars.”
Apfelbaum: Ajax Union downsized from 75 employees and 350 accounts
“But we used to have 75 employees and 350 active accounts.”