Evotix CEO Matt Elson shares his current ownership stake in the enterprise SaaS company after raising Series A and B venture rounds.
0:00 / 0:03exact quote · 3.5s
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“I'm still the largest shareholder, but slightly below majority.”
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More from Matt Elson
AssertionNot publicly verifiable
Evotix faced an $11M lawsuit from its largest customer upon acquisition
“Well, we were being sued for eleven million dollars by our largest customer.”
Matt ElsonAug 1, 2022▶ 7:43How he acquired a SaaS startup for $1 (now $14m in revenue, not a typo)
AssertionPartly supported
Elson: 5,000 People Die Annually in Western Workplaces from Preventable Causes
“So how can it be acceptable that in European and North American workplaces, we're still killing 5000 people a year. And it's mostly from causes which are well understood and easily preventable.”
Matt ElsonAug 1, 2022▶ 1:43How he acquired a SaaS startup for $1 (now $14m in revenue, not a typo)
AssertionNot checkable as stated
Elson: Evotix countersued its largest customer and secured a $300k settlement
“Well, we sued them. And then it went to a mediation and we faced them down across the table and they paid us 300,000 dollars, which kept the business afloat.”
Matt ElsonAug 1, 2022▶ 7:52How he acquired a SaaS startup for $1 (now $14m in revenue, not a typo)
Insight
Customer success teams miss large enterprise expansions without dedicated hunter reps
“So what we found was we previously had just had a customer success function. And what we found was that, that we were picking up the smaller upsells, but we weren't driving the big expansion deals. And so I've got the team now who are more hunters who are wher…”
Matt ElsonAug 1, 2022▶ 15:11How he acquired a SaaS startup for $1 (now $14m in revenue, not a typo)
Disclosure
Matt Elson acquired turnaround SaaS startup Evotix for exactly one dollar
“And so I bought it for the proverbial dollar because it was very much a turnaround.”
Matt ElsonAug 1, 2022▶ 1:24How he acquired a SaaS startup for $1 (now $14m in revenue, not a typo)
AssertionNot checkable as stated
Elson: Evotix has between 400 and 500 paying customer companies
“We're kind of between four and 500.”
Matt ElsonAug 1, 2022▶ 3:18How he acquired a SaaS startup for $1 (now $14m in revenue, not a typo)
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