Referizer raised $500K at a $9M valuation
Andrei Spivak (Andrei Spivovic) · How He Hit $2m in Revenue Cold Calling 20,000 PER WEEK · Apr 19, 2021 · at 15:10
Andrei Spivak, founder of SMB marketing automation SaaS Referizer, shares recent fundraising terms on Nathan Latka's show.
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“We just raised some money and we valued it as nine million dollars. Nathan Latka: How much did you raise? Andrei Spivak (Andrei Spivovic): 500,000.”
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More from Andrei Spivak (Andrei Spivovic)
Referizer operates 100% commission-only sales with zero base pay
“Whole sales system is performance based, hundred percent, no base pay, right? No overhead. The half of the setup fee, that's 500 bucks, goes to appointment setter that sets up the demo. Plus, we give them 10% of residual, right? Then second half goes to the cl…”
Spivak: Early-stage startup valuation scales from $1M idea to $3M revenue
“If you have idea and somebody else invest money, it's like a million dollars worth. If you have a product that's running, you have no revenue, it's two million. If you already have a revenue, clients are paying for it. It's three million.”
Referizer pays all team members 80% cash and 20% equity
“Everybody in the company is paid 20% with a stake of, you know, 80% cash, 20% equity.”
Referizer cold calls roughly 20,000 businesses every week
“We are calling about 20,000 businesses every week.”