Mike Arendt, CEO of HotSchedules, discusses SaaS retention metrics in the restaurant industry with host Nathan Latka.
0:00 / 0:09exact quote · 9.6s
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“Our gross retention is like 90% and our net dollar retention is a 110%, which is pretty amazing when four to five percent of our churn is uninfluenciable, right?”
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More from Mike Arendt
Insight
Arendt: Restaurateurs prefer simplicity over functionality in software platforms
“We believe that you have to have actually a platform in place because restaurateurs are looking to sacrifice functionality for simplicity.”
Mike ArendtJan 10, 2019▶ 4:551265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
AssertionNot checkable as stated
Mike Arendt: HotSchedules has reached a $100 million revenue run rate
“We're on a hundred million dollar run rate.”
Mike ArendtJan 10, 2019▶ 7:281265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
PredictionNot checkable as stated
Arendt: Restaurant technology market fragmentation will drive an industry roll-up
“Given the fragmentation, there's a roll up strategy to happen, whether we're the ones driving it or someone else.”
Mike ArendtJan 10, 2019▶ 14:431265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
AssertionNot checkable as stated
Arendt: HotSchedules reaches 160,000 locations across 60 countries
“We're in a 160,000 locations. 60 countries, 35,000 different concepts, and we have three million team members that are connected to our network.”
Mike ArendtJan 10, 2019▶ 2:341265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
Disclosure
Mike Arendt: HotSchedules charges restaurants up to $400 monthly per store
“We actually sell the products individually as best in breed, whether that's our labor, inventory, or operations management, task management, right? That can be anywhere from a hundred to 150 dollars, right, per store per month. The entire suite, that could be …”
Mike ArendtJan 10, 2019▶ 4:091265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
AssertionSupported
Arendt: HotSchedules was the #3 overall paid App Store app in 2017
“We're the number one downloaded paid app on the app store. Number three, overall paid app in the app store in 2017.”
Mike ArendtJan 10, 2019▶ 6:491265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention
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