Atwood: Major BuzzBuilder competitors are raising $30M to $40M in VC
Jake Atwood · 1086 Sales outreach tool hits $1.2m ARR, would you sell for $4m? No! · Jul 15, 2018 · at 11:17
Jake Atwood, founder of sales engagement tool BuzzBuilder, discusses the competitive landscape in the outbound sales software market.
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“You know, we know there are some major competitors that are getting 30 and forty million dollars in VC.”
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More from Jake Atwood
Atwood: BuzzBuilder users who build a campaign within seven days retain
“The most important thing is they need to create their first campaign within the first seven days. And we know if they built their first campaign, the rest is gravy.”
Atwood: Entrepreneurs fail with sales tools primarily from lacking a process
“The number one reason they were failing with a tool like BuzzBuilder, just failing to implement it is because they lacked a process. And especially a lot of entrepreneurs, they really don't have a Cohesive sales process.”
BuzzBuilder values early round at 4x revenue, targets 6x for second round
“So the valuation was based on roughly a four X multiple on revenues. And then when we do the second round, it'll be based closer to the, to a six X multiple.”
Atwood: BuzzBuilder targets 5-year exit rather than early $4M buyout
“We do have a plan to grow this up, explode it, and then in five years have an exit strategy, or potentially sooner if we get someone that comes along that gives us a really, really good price.”