Steli Efti, CEO of Close.io, tells Nathan Latka that Close.io's fully loaded CAC is below $1,000 compared to its $400 ARPU.
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“It is less on the ground.”
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More from Steli Efti
Insight
Churning a bad-fit customer is entirely a marketing and sales failure
“Well, that is a tragedy still, because why the fuck did we close them in the first place? What did we do wrong in our marketing? What do we do wrong on our sales to never indicate that this should, this is a customer that shouldn't buy our product. We did some…”
Steli EftiOct 30, 2016▶ 12:29EP 463: Close.io More Than $200k MRR, 500 Customers, $400 ARPU with CEO Steli Efti Who Wont Sell for $40M
Insight
Selling incomplete software reveals actual customer demand and prioritizes product roadmaps
“What we did is we said we have one very unique, strong thing that the product does. If people really care, they'll buy even if it's really insufficient in many other areas. Like we sold sales software that didn't have any reporting in it. And people still boug…”
Steli EftiOct 30, 2016▶ 14:03EP 463: Close.io More Than $200k MRR, 500 Customers, $400 ARPU with CEO Steli Efti Who Wont Sell for $40M
Disclosure
Steli Efti refuses to sell Close.io for $40 million
“Not even close.”
Steli EftiOct 30, 2016▶ 19:38EP 463: Close.io More Than $200k MRR, 500 Customers, $400 ARPU with CEO Steli Efti Who Wont Sell for $40M
“Yeah, this is a very common, I think it's a common, a trend for like a pattern to get to a great valuable business idea, which is you're stumbling or identifying a problem that real customers, real people have, and then you build a solution for that because yo…”
Steli EftiOct 30, 2016▶ 4:04EP 463: Close.io More Than $200k MRR, 500 Customers, $400 ARPU with CEO Steli Efti Who Wont Sell for $40M
Insight
Efti: Channel testing requires pre-planning for ambiguous results
“And I think one of the most important things that, that I teach people and the thing that we've learned to do is to plan for all three scenarios and say, okay, what does success look like and failure, but what is the in between? And what do we do if the first …”
Steli EftiOct 30, 2016▶ 18:43EP 463: Close.io More Than $200k MRR, 500 Customers, $400 ARPU with CEO Steli Efti Who Wont Sell for $40M
AssertionNot checkable as stated
Efti: Close.io generates millions in revenue with under 20 employees
“It's a very small team. We're less than 20 people and we're driving many, many millions in revenue and are competing with massive organizations.”
Steli EftiOct 30, 2016▶ 2:10EP 463: Close.io More Than $200k MRR, 500 Customers, $400 ARPU with CEO Steli Efti Who Wont Sell for $40M
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