Tom Gibby, co-founder of The Bot Platform, discusses the company's decision to bootstrap rather than raise outside venture capital.
0:00 / 0:16exact quote · 16.3s
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“We toyed with the idea of raising about a year, well, let's say about two and a half years ago, maybe. And we actually decided that it might be much more valuable for us to spend that time that we would invest into raising to just invest into growing the business and trying to generate sales.”
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More from Tom Gibby
AssertionNot checkable as stated
Gibby: Customers do not churn once integrated into enterprise tech stacks
“The way we work now with customers is, you know, once we're a part of their tax, their tech stack, they don't leave, you know.”
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Disclosure
Gibby: The Bot Platform would reject a $6M cash buyout offer
“Definitely wouldn't be interested in a six million acquisition.”
Tom GibbyOct 12, 2021▶ 9:33Bot Building SaaS Hits $1.2m ARR With Just $300k Raised
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Gibby: The Bot Platform pricing ranges from $1,400 to over $20,000 monthly
“We have some customers that pay us 1400 dollars a month, all the way up to others that are paying upwards of 15, 20,000 a month.”
Tom GibbyOct 12, 2021▶ 2:11Bot Building SaaS Hits $1.2m ARR With Just $300k Raised
AssertionNot checkable as stated
Gibby: The Bot Platform generates under $2M annually with $110k MRR
“So our annual revenue is just under two million, and our MRR is 110, 110 K, and if you notice there's a difference between that, that's because as well as charging for license, we also have service revenue on top of that.”
Tom GibbyOct 12, 2021▶ 4:42Bot Building SaaS Hits $1.2m ARR With Just $300k Raised
AssertionNot checkable as stated
Gibby: The Bot Platform cash and receivables grew 81% year-over-year
“I mean, cash and receivables were up 81% year on year. Last month our invoicing is up 130% compared to last year.”
Tom GibbyOct 12, 2021▶ 6:02Bot Building SaaS Hits $1.2m ARR With Just $300k Raised
Disclosure
Gibby: The Bot Platform co-founders own roughly 75% of the company
“75%, maybe.”
Tom GibbyOct 12, 2021▶ 8:16Bot Building SaaS Hits $1.2m ARR With Just $300k Raised
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