Lily Liu, founder and CEO of Pinata, explains the company's early zero-revenue pilot phase to Nathan Latka.
0:00 / 0:17exact quote · 17.6s
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“So about a year ago, early if we rewind early, 20, 21, we actually were not generating any revenue. And so we were Just coming off of that pilot phase where we weren't charging property management companies anything to use our platform. We were really running the MVP tests.”
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More from Lily Liu
Disclosure
Pinata built its initial MVP using an external development shop
“You know, we actually found a development partner. And so we, you know, we basically iterated on that MVP initially with a development partner.”
Lily LiuMay 31, 2022▶ 10:01She saved equity, used dev shop for new PropTech SaaS, breaks $1m in revenue
Insight
B2B enterprise sales remain brutally hard even for free software
“And so I remember that, but again, even if it's free, it's still a difficult sales process when you're doing a B to B sale.”
Lily LiuMay 31, 2022▶ 13:37She saved equity, used dev shop for new PropTech SaaS, breaks $1m in revenue
AssertionNot checkable as stated
Pinata reached 270,000 active renters on its platform
“I think we're Hovering around 270 ish renter, 270,000 renters. And these are renters that have been entered into our platform. So that does not account for the full portfolio size of some of our groups, knowing that our groups again will go in pilots.”
Lily LiuMay 31, 2022▶ 14:34She saved equity, used dev shop for new PropTech SaaS, breaks $1m in revenue
Disclosure
Brand partnerships generate roughly 20% of Pinata's total revenue
“Closer to about 20.”
Lily LiuMay 31, 2022▶ 4:43She saved equity, used dev shop for new PropTech SaaS, breaks $1m in revenue
Disclosure
Pinata charges property managers starting at $1 per unit monthly
“So it starts at a dollar per unit per month. Now that price Will vary based on the actual product offering that they want to expose to their renters and the unit size.”
Lily LiuMay 31, 2022▶ 5:28She saved equity, used dev shop for new PropTech SaaS, breaks $1m in revenue
AssertionNot checkable as stated
Pinata scaled to over 600 property management companies
“Yeah, so we have over 600 property management companies on the platform today.”
Lily LiuMay 31, 2022▶ 13:50She saved equity, used dev shop for new PropTech SaaS, breaks $1m in revenue
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