Glenn Coates, CEO of Handshake, clarifies the company's subscription-based monetization strategy for its B2B e-commerce platform.
0:00 / 0:11exact quote · 11.4s
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“We don't have what you would think of as like we're not inside the transaction. If that, if that's what you mean, we don't charge a per transaction fee. We don't take a cut like that.”
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More from Glenn Coates
Opinion
Coates: Upstream B2B retail supply chains remain reliant on pen and paper
“The world that you and I are in, where we get to order things really easily, that world, one step back in the supply chain is totally broken, and it's all pen and paper and phone, fax, email.”
Glenn CoatesJan 22, 2017▶ 3:01EP 547: Handshake.com Raises $24M, Helping 1000+ Customers Manage Store Product Purchasing with CEO Glen Coates
Insight
Coates: Customer acquisition payback period is the speed limit of SaaS growth
“What I think about, and what a lot of the SaaS the SaaS investors and, you know, the kind of people who are thinking really well about economics are thinking about payback period, right? Because that's the kind of speed limit on how fast you can grow and like …”
Glenn CoatesJan 22, 2017▶ 14:21EP 547: Handshake.com Raises $24M, Helping 1000+ Customers Manage Store Product Purchasing with CEO Glen Coates
Insight
Coates: SaaS payback periods exceeding two years raise red flags for VCs
“Well, if you look at like what the market considers a red flag, I think if you talk to the venture community and the guys who really know this stuff, you know, they're going to flag a payback period. That's like greater than two years as, you know, probably a …”
Glenn CoatesJan 22, 2017▶ 17:25EP 547: Handshake.com Raises $24M, Helping 1000+ Customers Manage Store Product Purchasing with CEO Glen Coates
Insight
Coates: Plan fundraising at 12 months runway; pitch during the last six
“You really need to start thinking about run raising when you've got a year of runway, but like the real, like you're out there pounding the pavement stuff is probably when you're into the last six months.”
Glenn CoatesJan 22, 2017▶ 20:01EP 547: Handshake.com Raises $24M, Helping 1000+ Customers Manage Store Product Purchasing with CEO Glen Coates
Opinion
Coates: Handshake is worth far more than a $120M buyout offer
“I think the business is worth a lot more than that, even today, and the long-term potential is many times that.”
Glenn CoatesJan 22, 2017▶ 23:43EP 547: Handshake.com Raises $24M, Helping 1000+ Customers Manage Store Product Purchasing with CEO Glen Coates
AssertionNot checkable as stated
Handshake served over 1,000 paying business customers as of late 2016
“Yeah, so we work with over a thousand companies today out there in the market in, in different industries.”
Glenn CoatesJan 22, 2017▶ 6:19EP 547: Handshake.com Raises $24M, Helping 1000+ Customers Manage Store Product Purchasing with CEO Glen Coates
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