Nicholas Haas, founder of Loot, discusses the geographic customer distribution for his entrepreneurial apparel side venture, Startup Drugs, with host Nathan Latka.
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“Our highest performing markets actually are nowhere near the startup hotbeds. It's actually people, you know, we have a lot of business in Midwest, a lot of business in Florida, a lot of business coming out of areas that don't, you wouldn't traditionally associate with You know, the tech startup scene”
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More from Nicholas Haas
Insight
Non-SaaS ad tech valuations rely on contract count and duration
“If we don't do a SAS model is they would value us by the number of contracts we get in the length of time. So if we could get a company to say, commit to a two year contract where they'd spend extra year, that would be material to valuations.”
Nicholas HaasJun 21, 2016▶ 9:30EP 309: Ad Tech Company Hits $500k in 2015 Revenue with 26 Year Old At Helm
Disclosure
Loot charges brands a volume-based markup on user rewards
“We you know, for instance, the brand we worked with was charging 50 cents or rewarding somebody with 50 cents. We would typically charge them a multiple of that depending on the volume. So if we had, you know, a thousand offers which is, would be a low amount,…”
Nicholas HaasJun 21, 2016▶ 5:51EP 309: Ad Tech Company Hits $500k in 2015 Revenue with 26 Year Old At Helm
AssertionNot checkable as stated
Loot generated mid-six-figure revenue in 2015
“We passed six figures, mid six figures on that, and we were looking for a little lower. That was overall revenue.”
Nicholas HaasJun 21, 2016▶ 6:48EP 309: Ad Tech Company Hits $500k in 2015 Revenue with 26 Year Old At Helm
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