Rick Wilson, CEO of Miva, discusses customer retention and why Miva focuses on the enterprise market over SMBs.
0:00 / 0:02exact quote · 2.1s
720p mp4 · rendered on demand · StarZero watermark
“Our average enterprise customer lasts more than a decade.”
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“If you're selling auto parts, And when you're all said and done with child SKUs, you have 750,000 child SKUs and you need to connect it to an ERP system and you need it to ship to your multiple warehouses. You're not getting there with Shopify.”
Rick WilsonJan 18, 2018▶ 13:47908 SaaS: Miva is Enterprise Shopify, Passes $16m in ARR Founded in 1996
Disclosure
Wilson: Taylor Swift runs official merchandising store on Miva
“Our most famous customer, even though she's not our largest customer is Taylor Swift. So so Taylor uses us for her merchandising store.”
Rick WilsonJan 18, 2018▶ 2:35908 SaaS: Miva is Enterprise Shopify, Passes $16m in ARR Founded in 1996
Disclosure
Miva ARPU reaches $300 monthly, $2,000 for enterprise
“Our average customer pays us about 300 dollars per month and our average enterprise customers paying us around two grand a month.”
Rick WilsonJan 18, 2018▶ 2:21908 SaaS: Miva is Enterprise Shopify, Passes $16m in ARR Founded in 1996
AssertionNot publicly verifiable
Wilson: Acquired Miva for $1.5M all-in in 2007
“So we bought it for all in about a million and a half bucks. That included the turnaround capital. And actually that's what we raised and bought. I mean, so we paid them less, but that's what it took to do.”
Rick WilsonJan 18, 2018▶ 10:19908 SaaS: Miva is Enterprise Shopify, Passes $16m in ARR Founded in 1996
AssertionNot publicly verifiable
Wilson: Miva was doing $500K net revenue at 2007 buyout
“After cost of goods, it was about half a million bucks a year at the time, even though it had a huge number of customers.”
Rick WilsonJan 18, 2018▶ 10:34908 SaaS: Miva is Enterprise Shopify, Passes $16m in ARR Founded in 1996
AssertionSupported
Miva raised $18M in PE funding in April 2017
“We took our first round of professional money in April of this year. We raised eighteen million dollars from a private equity firm.”
Rick WilsonJan 18, 2018▶ 11:06908 SaaS: Miva is Enterprise Shopify, Passes $16m in ARR Founded in 1996
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