Assertion certainty 4/5 debate potential 1/5

Free D Group generated less than $2 million in 2020 revenue

Abel Zhao · Bootstrapped to $35m Revenue, $15m recurring, $20m One Time Connecting Smart cities in Japan with local farmers · Jan 20, 2023 · at 12:20

Abel Zhao is the CEO of Free D Group, discussing how the company pivoted business models during the COVID-19 pandemic.

0:00 / 0:10exact quote · 11.0s
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“So 20 20, when we first started to switch the business model from B to C to B to B to C so we only did around less than two million dollars in revenue in 2020, because actually that's when COVID first happened.”

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Assertion Not checkable as stated
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Insight
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“Well, because actually when you're creating a SaaS feed that actually creates from the customer perspective, you don't charge them anything, actually that lowered the stickiness and then also lower the loyalty we find. And then, so when you charge them anythin…”
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Prediction Not checkable as stated
Free D Group expects $100 million in 2023 revenue, 50% ARR
“So we're hoping that actually with all those strategic alignments put into place, it will help us to achieve the a hundred million revenue this year. And the amount that at least we're looking at, hoping that at least 50% of that's ARR.”
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Assertion Not checkable as stated
Free D Group's take rate: under 2% in China, 10-20% in EMEA
“I mean typically, for example, if we, because actually we work with a wide range of suppliers for all the other the merchants from different markets, for example, if it's in China the other the take rate's actually quite quite, quite sad. We're talking about b…”
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Assertion Not checkable as stated
Free D Group maintains a 10% weighted average take rate
“I would say around 10%.”
Abel Zhao Jan 20, 2023 ▶ 4:59 Bootstrapped to $35m Revenue, $15m recurring, $20m One Time Connecting Smart cities in Japan with local farmers
Assertion Not checkable as stated
Large corporations generated 60-65% of Free D Group's 2022 revenue
“From the test fee side, one time solution to right now, if you look at 20, 22 number those actually, the total large corporation state takes about 60, 65%, and then the small merchants takes about 30%.”
Abel Zhao Jan 20, 2023 ▶ 7:01 Bootstrapped to $35m Revenue, $15m recurring, $20m One Time Connecting Smart cities in Japan with local farmers
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