Shotfarm founder Mike Lapchick explains why competing against heavily funded rivals pushed him toward an acquisition exit.
Opinion
Lapchick: Chicago has the most conservative investors in the US
“The only difference that I would make is that I wouldn't do it in Chicago. I wouldn't fund it in Chicago. It's the most conservative bed of investors in the country. These guys are bankers, you know, you go in with that.”
Insight
Lapchick: Founders Should Sell on the Upside Before Growth Plateaus
“Well, what you look for is, is you look at your growth trajectory, right? You look for that hockey stick or anything that approximately is a hockey stick. And as soon as you can start predicting when the plateau is going to occur, you want to sell on, on the u…”
Assertion Not checkable as stated
Lapchick: Shotfarm's average customer pays $1,200 per month
“Our average MRR is 1200 a month.”
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Shotfarm Maintains Negative 0.5% Monthly Net Revenue Churn
“Right now we are at negative half a point.”
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Shotfarm Has 12,000 Platform Users and Over 100 Paying Customers
“Well, so we have 12,000, we have 12,000 companies using the platform. Not all of them are paying, but more than a hundred are paying.”
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Lapchick: Shotfarm incurs $20 to $30 annual cost per free user
“My carrying costs for a free customer is about
30 bucks a year, 20 bucks a year, and around there.
maybe even a little bit less, depending on how much storage, free storage they're using, or how much of the free storage they're using.”