SpaceBasic sold only 5% to 6% equity in its initial angel round
Madhavi Shankar · India Based SaaS hits $20k MRR, Growing Fast with 160k Users · Dec 8, 2021 · at 12:48
Madhavi Shankar, founder of SpaceBasic, discusses company equity dilution with Nathan Latka.
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“No, we were not. We were more we were less than we were around five, six percent or less than that.”
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More from Madhavi Shankar
SpaceBasic serves 65 to 70 universities and 160,000 total users
“So, you know, at the moment, we work with about 65, 70 universities, about a 150, 60,000 users in total.”
SpaceBasic has 55,000 to 60,000 paying student users on platform
“We charge per student per year. Though we have different users using it at the moment, we just charge the students and we're, we are about around 55 to 60,000 students on the platform.”
SpaceBasic Hit Cash Flow Breakeven in 2020 Before Angel Round
“In 2020, we were cash flow breakeven and we raised you know our first round of funding you know, a more of a angel round this year in May.”
SpaceBasic grew new customer acquisition by 35% year-over-year
“We have grown about 35% in terms of new customer acquisition.”
SpaceBasic aims to raise around $1 million in next funding round
“You know, we're still yet to finalize on the math, but I'm thinking maybe a million or so is what we're looking to raise.”
SpaceBasic charges Indian universities $4 to $9 per student annually
“We charge between four to nine dollars per student per year, since it's still you know, that's the basic version, but like when we add the AI aspect of it kind of customizes. There's an enterprise pricing available as well, but that's the, you know, average ba…”