Barry Merrick explains Ivy's fundraising strategy and cap table structure to Nathan Latka.
0:00 / 0:10exact quote · 10.2s
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“We don't have any institutions on board. It's all strategic individuals. Many of them are partners at different financial institutions and funds, but it's all individual investments.”
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More from Barry Merrick
Disclosure
Ivy charges members under 35 $1,000 and older members $2,000 yearly
“So it's a thousand dollars a year. And that's evolved over time. So that's the latest where it's at. If you're under 35 and over 35, it's a 2000 dollars.”
Barry MerrickApr 6, 2018▶ 3:07986 The College of The Future Just Hit $10m in ARR
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Ivy claims very low member churn due to lifelong membership model
“Churn actually is we have a lifelong membership, so it's actually very low. So once you pay your joining fee so your first year is, you know, kind of paid up front. So once you pay that, you're a lifelong member, you can decide, you know, whether to be an Ivy …”
Barry MerrickApr 6, 2018▶ 6:20986 The College of The Future Just Hit $10m in ARR
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Ivy operates in seven cities with 20,000 members
“We're in seven cities with 20,000 members, as you mentioned.”
Barry MerrickApr 6, 2018▶ 1:55986 The College of The Future Just Hit $10m in ARR
AssertionNot checkable as stated
Merrick: Ivy grew revenue 100% annually from $2.5M to $10M
“It was basically, so it's going to be exactly a hundred percent growth pretty much for the last two years. So we went from around two and a half million to five million to ten million this year.”
Barry MerrickApr 6, 2018▶ 10:07986 The College of The Future Just Hit $10m in ARR
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Merrick: Ivy spends about $400 to acquire each member
“Well so the way we really invest about 400 dollars per member to bring them on board.”
Barry MerrickApr 6, 2018▶ 12:01986 The College of The Future Just Hit $10m in ARR
AssertionNot checkable as stated
Merrick: Ivy achieves instant CAC payback via $1,000 joining fee
“Well these days it's pretty instant because There's a, the thousand dollar joining fee, as I mentioned.”
Barry MerrickApr 6, 2018▶ 13:05986 The College of The Future Just Hit $10m in ARR
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