Stas Kulesh, founder of employee recognition tool KarmaBot, discusses the company's past fundraising and valuation history with host Nathan Latka.
0:00 / 0:03exact quote · 3.2s
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“The angel investment was based on the five million cap.”
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More from Stas Kulesh
AssertionPartly supported
Slack prioritizes its portfolio company Disco on its app directory
“It's like, it's a disco, disco bot grow bot previously. So they were, they are in essentials. They are on the front page. We cannot, like, ask, we, I asked actually, it's like, to put karma next to them, but it was counterintuitive. They invested money in this…”
Kulish: Paid Ads Fail for Culture Tools Due to Top-Down Purchasing
“It's really, it's so difficult because the main decision makers, they are at the top of the chain. We don't set, we don't like Trello. Engineers don't come to their superiors saying like, let's buy Trello gold. It's so cool. We've been using for a while with k…”
Stas KuleshSep 23, 2021▶ 9:09Slack Tool KarmaBot Doubles to $400k ARR, Turns Down $1m Offer
Insight
Kulish: Customers churn after 2-3 years seeking novelty, not from product dissatisfaction
“Recently we noticed that people, after using Karma for two years or three years, they just switched to another product because they sort of, they want the novelty. Not because the product is, well, not doing it for them. It's just the team wants something new.…”
Stas KuleshSep 23, 2021▶ 15:46Slack Tool KarmaBot Doubles to $400k ARR, Turns Down $1m Offer
AssertionNot checkable as stated
KarmaBot spends zero dollars on marketing
“Well we don't spend anything on marketing just because we don't have anything any, anything extra.”
Kulish: KarmaBot serves over 3,000 total teams with 350 paying
“We've got a freemium solution. So altogether, I think it's more than 3000, but 350 of them are paying. So that's teams. 350 teams.”
Stas KuleshSep 23, 2021▶ 2:56Slack Tool KarmaBot Doubles to $400k ARR, Turns Down $1m Offer
AssertionNot checkable as stated
Kulish: KarmaBot's regular customer has 100 people and pays $100 monthly
“Around 100 people paying around 100 a month. So this is the regular size of the team and the regular bill.”
Stas KuleshSep 23, 2021▶ 3:35Slack Tool KarmaBot Doubles to $400k ARR, Turns Down $1m Offer
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