Assertion certainty 4/5 debate potential 1/5

Kellogg: Madwire onboards 75% of new accounts to payments

JB Kellogg · Madwire $100m ARR Looks for Private Equity Partner for SMB Rollup Strategy · Oct 26, 2021 · at 4:47

JB Kellogg, co-founder and co-CEO of Madwire, discusses adoption metrics for their embedded payments platform for SMB customers.

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“We're currently onboarding about 75% of our new accounts to payments.”

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More from JB Kellogg

Opinion
Kellogg: SMB software point solutions are falling behind all-in-one platforms
“Point solutions are sort of a dying game now. And all those point solutions are You know, they're falling behind because there's more and more platforms that do everything.”
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Insight
Kellogg: Small businesses prefer buying services over pure software
“What we're selling to the SMB feels like services because an SMB wants to buy services. But on the back end, we're using technology to increase scale and profitability.”
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Insight
Kellogg: SMB software requires a 'do-it-for-me' managed service layer
“Even if we had the greatest, you know, small business platform in the whole world for small business, there wouldn't be a lot of utilization without the service piece. We literally need to do the work for them. So we put together kind of the do it for me model…”
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Assertion Not checkable as stated
Kellogg: Madwire cohorts hit negative churn after 18 months
“It actually after 18 months turns to a negative churn, which means essentially people are upgrading at a higher rate than we are seeing in loss. So the book is actually growing month over month.”
JB Kellogg May 17, 2019 ▶ 8:39 1392 $104m in ARR and Bootstrapped?!?! How?!
Insight
Kellogg: Sales reps maximize closing ratios at exactly 60 inbound leads
“We try to give our sales team about 60 leads per person. They have the highest closing ratio if you supply that many. If you give them less, they have too much time on their hands. If you give them too much, they close not as many because they don't have enoug…”
JB Kellogg May 17, 2019 ▶ 11:25 1392 $104m in ARR and Bootstrapped?!?! How?!
Prediction Not checkable as stated
Kellogg: Madwire is targeting an IPO within two to three years
“We have talked about dividends in the future and that sort of a thing, but for us, honestly, I think our vision is all that we're on a good roadway here, and if it's IPO that's kind of where we're targeting over the next two to three years, and we figure that …”
JB Kellogg May 17, 2019 ▶ 14:46 1392 $104m in ARR and Bootstrapped?!?! How?!
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