Nadirzdin: MYR POS customers pay an average of $129 monthly
David Nadirzdin · Myr POS SaaS For SMB's hits $1.2m ARR, Raised at $7.5m Valuation with 400 Customers · Dec 1, 2021 · at 5:25
David Nadirzdin, founder of restaurant point-of-sale software MYR POS, discusses subscription pricing with Nathan Latka.
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More from David Nadirzdin
Nadirzdin: Toast and Lightspeed Tech Stacks Fail Limited-Service Restaurants
“If you're looking at actual POS like toast, like light speed, like a touch bistro, for example, they were built and inherently servicing a full service market industry. So naturally their technology stack didn't grow and evolve. For what the actual limited ser…”
Nadirzdin: Many Limited-Service Restaurants Still Rely on Legacy Enterprise POS
“What we're starting to see is that there's a huge niche in a huge segment of limited service restaurant that are simply not being catered to. They're still being catered to with old, they're not antiquated, but enterprise based solutions, you know, much like N…”
Nadirzdin: MYR aims to partner with acquirers rather than rival Square
“We're, we don't have delusions of grandeur. We're not looking to go after square or toast or any of that. What we're trying to do is become an ISV that a payment acquirer is going to want to work with.”
Nadirzdin: MYR POS annual net churn is under 2%
“Most fascinating number that we have, and this is during COVID and during the pandemic is that our net churn is less than two percent annually.”
Nadirzdin: MYR POS will secure a $20M Series A valuation
“Yeah, absolutely. We actually have two, two partner acquirers in the United States that are looking at our file carefully right now. We already have two VCs that want to follow, not as leads because they finish all of their rounds as leads this year.”
Nadirzdin: Competitors are ignoring restaurant franchises at trade shows
“What we started to leverage is, look, we started to go to franchise shows with our sales team and no one's there. No, no one's approaching these franchises. No one has, no one seems to have the offering that we have, which is, you know, it's interesting and un…”