Nitin Verma, founder and CEO of Orgzit, clarifies how much capital was spent building their minimum viable product prior to generating revenue.
0:00 / 0:06exact quote · 6.9s
720p mp4 · rendered on demand · StarZero watermark
“Actually, we didn't spend it. So that was more opportunity cost. It was not really money spent. It was just opportunity cost of us not working elsewhere.”
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 Nitin Verma
Insight
Low-code software requires users to articulately define their business processes
“Because if you can't define business processes articulately, there's no way you can go and build an application on a low code software.”
Nitin VermaJun 7, 2020▶ 5:26They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Disclosure
Orgzit plans to cap equity dilution at 15% to 20%
“We don't want to dilute more than 15 to 20%.”
Nitin VermaJun 7, 2020▶ 7:08They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Disclosure
Orgzit co-founders work part-time external jobs to bootstrap the company
“My brother sort of works as a part-time CTO and I work as a part-time consultant with World Bank.”
Nitin VermaJun 7, 2020▶ 6:10They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Disclosure
Orgzit is actively raising $500,000 to $1,000,000 in seed capital
“We're actually doing a fundraise right now to raise about a half a million to maybe a million dollars to take us to the next level.”
Nitin VermaJun 7, 2020▶ 6:53They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
AssertionNot checkable as stated
Orgzit expanded an Amazon India division account from $100 to $1,200 monthly
“And it started off as a small POC for about 10 users, and now it's expanded to about 120 users. And we are doing so we started with less than, I think, 500 dollars sorry, we started with less than a hundred dollars a month, approximately. It was just a small P…”
Nitin VermaJun 7, 2020▶ 8:15They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
AssertionNot checkable as stated
Orgzit grew monthly revenue from under $1,000 to $5,500 since early 2019
“So in 2019, we did that in January 2019, and at that time, our total revenue was less than a thousand dollars. Now it's about, like, 5500 dollars a month.”
Nitin VermaJun 7, 2020▶ 11:22They Spent $100k on MVP, Now Have Customers Expanding $100/mo to $1000/mo in First year, How!?
Made with StarZero
Turn any episode into a week of clips.
This entire site, over 2,600 episodes transcribed, diarized, checked and made playable,
runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the
moments worth sharing, cuts them, captions them, and reframes them for every feed.
We use essential cookies to make the site work. With your permission we
also use analytics cookies (Google Analytics and Mixpanel) to understand
usage and improve StarZero. See our Cookie Policy.