Disclosure certainty 4/5 debate potential 2/5

Pollaro: Venga pays no kickbacks to Mindbody or OpenTable reps

Sam Pollaro · 1539 How Venga Hit 2000 locations, $3.6m ARR on $2.7m Raised Helping Restaurants, Fitness Centers with Customer Experience · Oct 11, 2019 · at 10:17

Sam Pollaro, CEO of Venga, explains why platform partners send customer referrals without financial kickbacks.

0:00 / 0:10exact quote · 10.6s
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“We don't, we would actually like to, but you know, the way our agreement works, you know mind, body, open table, they don't want us paying their reps you know, to sell our product.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Sam Pollaro

What-if
Pollaro would wait much longer to raise funding if starting over
“Well, I think, you know, if I were to do it all over again, I might take a different path. I would certainly wait much longer to raise money.”
Sam Pollaro Oct 11, 2019 ▶ 3:52 1539 How Venga Hit 2000 locations, $3.6m ARR on $2.7m Raised Helping Restaurants, Fitness Centers with Customer Experience
Assertion Supported
Pollaro: MindBody bought Booker to expand into appointment-based salon and spa verticals
“Well, I think actually Booker came with a company that does a little bit of what we do called Frederick. But really they were looking to expand their capabilities on the appointment side. So MindBody does a lot in class-based fitness, but they didn't have a ve…”
Sam Pollaro Oct 11, 2019 ▶ 6:17 1539 How Venga Hit 2000 locations, $3.6m ARR on $2.7m Raised Helping Restaurants, Fitness Centers with Customer Experience
Assertion Not checkable as stated
Pollaro: Mindbody and OpenTable clients churn less when using Venga
“They actually make those referrals because it's in their best interest to because once one of their clients is using our product, they're actually stickier and less likely to churn than if they weren't.”
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Insight
Pollaro: Raising another $5M-$10M resets a company's required exit to $100M+
“If I were to go out and raise money now, you know, I would be sort of resetting the goalposts for what it would mean to be a successful exit, right? You know you can do some quick math and figure out roughly where our valuation is now. And if we were to raise,…”
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Assertion Not checkable as stated
Pollaro: Venga serves about 2,000 locations
“We're about 2000 locations.”
Sam Pollaro Oct 11, 2019 ▶ 2:13 1539 How Venga Hit 2000 locations, $3.6m ARR on $2.7m Raised Helping Restaurants, Fitness Centers with Customer Experience
Assertion Not checkable as stated
Pollaro: Venga generates about $300K in MRR
“We're doing about 300,000 in monthly recurring revenue.”
Sam Pollaro Oct 11, 2019 ▶ 2:33 1539 How Venga Hit 2000 locations, $3.6m ARR on $2.7m Raised Helping Restaurants, Fitness Centers with Customer Experience
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