Assertion certainty 4/5 debate potential 1/5

Austin: Fresh Relevance CAC is less than first-year contract value

Mike Austin · FreshRelevance Founders Put Up $500k To Start, Now $5m Revenue, 500 Customers · Jul 16, 2020 · at 16:15

Mike Austin, co-founder and CEO of Fresh Relevance, discusses customer acquisition costs and payback periods with Nathan Latka.

0:00 / 0:06exact quote · 6.8s
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“I don't want to give an exact thing on that, but we're spending less than the first annual year value.”

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Insight
US VCs Offer Higher Multiples but Demand Faster Growth Than UK VCs
“One of the differences we see between PEs in the UK and those in the US is the scale of investment and the expectation on growth. So, you know, in, in, if you get money in the valley, then you can get a phenomenal multiple, but you're also expected to hit, you…”
Mike Austin Jul 16, 2020 ▶ 11:06 FreshRelevance Founders Put Up $500k To Start, Now $5m Revenue, 500 Customers
Assertion Not checkable as stated
Austin Admits Fresh Relevance Loses a Few Percent on Cohort Retention
“Right. No, not quite. That, that, that, that's my definition of net share, which may be slightly different. So the so we're looking at probably losing a few percent net on, on that.”
Mike Austin Jul 16, 2020 ▶ 14:28 FreshRelevance Founders Put Up $500k To Start, Now $5m Revenue, 500 Customers
Assertion Not checkable as stated
Austin Claims In-Person Events No Longer Generate Reliable SaaS Leads
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Mike Austin Jul 16, 2020 ▶ 16:50 FreshRelevance Founders Put Up $500k To Start, Now $5m Revenue, 500 Customers
Assertion Not checkable as stated
Austin: Fresh Relevance Average Contract Value Is Around $20,000 Annually
“The average is somewhere around 20,000 dollars annual.”
Mike Austin Jul 16, 2020 ▶ 2:45 FreshRelevance Founders Put Up $500k To Start, Now $5m Revenue, 500 Customers
Disclosure
Fresh Relevance Founders Invested $500k of Their Own Money to Start
“It was a little bit less than half a million dollars.”
Mike Austin Jul 16, 2020 ▶ 7:22 FreshRelevance Founders Put Up $500k To Start, Now $5m Revenue, 500 Customers
Prediction Not publicly verifiable
Fresh Relevance Is on Track for $5 Million Revenue in 2020
“So we're on track to do about five million dollars this year.”
Mike Austin Jul 16, 2020 ▶ 9:29 FreshRelevance Founders Put Up $500k To Start, Now $5m Revenue, 500 Customers
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