Hawkins claims founders retain total stock control despite $2 million raise
Mike Hawkins · 1359 Will This Quiz Based Lead Capture Platform Grow Into It's Valuation? · Apr 14, 2019 · at 14:33
Mike Hawkins is the co-founder of Riddle. Host Nathan Latka questioned how the company retains full control after raising $2 million.
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“Essentially we control all of our stock. And so we control the direction. And so basically we decide what we want to do.”
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More from Mike Hawkins
Hawkins: Riddle monthly subscriber churn is down to 3%
“It turns about three percent. We were at about five.”
Hawkins: Riddle average customer lifetime value is around $600
“Generally across, this is across all three plans. So generally our lifetime value is around 600 bucks.”
Hawkins: Riddle is profitable and has done zero paid marketing
“We've been around four years. We're profitable, but in terms of actual paid marketing, we actually haven't actually tipped our toe into that.”
Hawkins: Riddle has grown to 700 to 800 paying customers
“So we have to have, I think, let's see, 707, 800.”