Saltis bootstrapped CoreDNA with his own cash and continues to self-fund
Sam Saltis · 978 Why Sole Founder is OK Burning $40k Cash and Bootstrapping · Mar 29, 2018 · at 3:18
Sam Saltis explains how he financed CoreDNA out of his web agency's profits and personal savings.
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“All the way through, I bootstrapped it on the cash of the company, and I actually launched it here, bootstrapped with my own cash, and I'm still funding it.”
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Saltis maintains a fixed $40k monthly burn by reinvesting new revenue
“So I kind of look, the way I look at it is, I'm willing to spend over 40 grand a month and burn 40 grand a month in the market, and what I do is every customer that I bring on, I actually then add more people into the mix, so I recently picked up a couple cust…”
CoreDNA's average American customer pays around $2,500 monthly
“The average guy at the moment pays us around two and a half thousand a month.”
CoreDNA acquired 25 US customers in one year with no sales team
“So what we've done in the year, we've put on about 25 customers here. Which is offer a zero base with very few with zero sales team very limited.”
CoreDNA generates nearly $200,000 in monthly recurring revenue
“We're actually close to 200 grand a month in MRR, and the reason for that is that the clients here are paying us at least two to three times what we used to pay in Australia.”