Jesse Meek, founder of CodeLingo, details the financial performance of his company before walking away from enterprise contracts to pursue self-service SaaS.
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“We're talking so we're probably talking best month would be around, yeah, probably probably around three grand a month.”
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More from Jesse Meek
Insight
Meek: VC funding provides an advantage by enabling irrational market behavior
“Venture capital allows you to do is act irrationally in the marketplace, and that ability is what gives you the competitive advantage. Because we have this capital, we can do experiments and developments not tied to a more traditional bootstrap model.”
Jesse MeekApr 26, 2020▶ 15:241737 He Wants Enterprise Customer to Churn to Tackle Massive Technical Debt Issue
Insight
Meek: Software Knowledge Transfer Breaks Down as Teams Scale
“The core of the problem is that software developers are great at scaling up anything except themselves. So there's a core dynamic of transferring critical knowledge about the software system you're developing that works really well in small teams, but starts t…”
Jesse MeekApr 26, 2020▶ 3:051737 He Wants Enterprise Customer to Churn to Tackle Massive Technical Debt Issue
“Stripe came out with a really great report in September last year. It's called the developer coefficient. They estimate technical debt to cost companies eighty-five billion dollars annually, and they estimate a developer to be spending over 17 hours a week out…”
Jesse MeekApr 26, 2020▶ 2:371737 He Wants Enterprise Customer to Churn to Tackle Massive Technical Debt Issue
AssertionSupported
Meek: CodeLingo raised around $700K from Reinventure and RightClick Capital
“All up, we've raised around seven, 700 K. The bulk of that came in 2017. So we raised from two venture capitalists. One was reInventure, which is backed by Westpac. That's one of Australasia's big four banks. And the other one is RightClick Capital, which is p…”
Jesse MeekApr 26, 2020▶ 7:421737 He Wants Enterprise Customer to Churn to Tackle Massive Technical Debt Issue
AssertionPartly supported
Meek: CodeLingo landed pull requests at Google, Uber, and Sky UK
“In the past month we've had so our bots automatically finds and fixes code. We've had pull requests landed by companies like Google, Uber, Sky UK all in the past few weeks.”
Jesse MeekApr 26, 2020▶ 9:161737 He Wants Enterprise Customer to Churn to Tackle Massive Technical Debt Issue
AssertionNot publicly verifiable
CodeLingo raised $540K pre-seed round at a $3.8M valuation
“The first one was on a convertible note at a 1.8 mil cap. And then the second round wasn't on a note. So the second round was our pre C that was from the VCs. So that was that was just a straight. So the pre valuation was 3.8 mil. So yeah, around four mil valu…”
Jesse MeekApr 26, 2020▶ 14:041737 He Wants Enterprise Customer to Churn to Tackle Massive Technical Debt Issue
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