The Ledger
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Bhatia calls Cvent and Bizzabo hated 'necessary evils' in event tech
“Yeah, I think in general, the event market event tech market is a very unloved space. I think everyone knows Cvent. Everyone knows visible, but that's sort of a necessary evil. You know, I personally came from the healthcare market and it's kind of like Epic. …”
Bhatia: Legacy SaaS persists because enterprise buyers face zero career risk
“These are like form written products. Like you have to fill out multiple, you know, pages of long forms. And it doesn't really help you do your job any better. It's just, you know, everyone's on there. So you have to be on there as well. And, you know, they've…”
Bizzabo is willing to accept a two-year CAC payback period
“Yes. ... Because we know that those who are buying our product really need it, and we feel confident about the LTV.”
Ben-Shushan is willing to burn $1M/month to drive Bizzabo growth
“I would, and that the, you know, the reason is because when you have A whale oil machine that is working, and you get strong sentiment from the market, and you strongly believe in the long term and the market opportunity, so I strongly believe that's what you …”
Ben-Shushan: Bizzabo maintains 80% gross retention and negative net churn
“So in terms of gross churn, that would be around, I would say, 80%.
And in the past you know,
Six months or so, negative net churn, so overall pretty healthy.
No, no, no.
Retention.”
Ben-Shushan: Bizzabo Average Annual Contract Value Is $25,000
“We have three different cohorts, but I would say across the board, the average is 20 five K. 25,000 bucks.”
Ben-Shushan: Bizzabo Has Raised $56 Million to Date
“We, no, we raised to date, fifty-six million dollars.”
Ben-Shushan: Bizzabo Closed $27 Million Series D in April
“We just closed our Series D round earlier in April, a month ago twenty-seven million dollar round, yeah.”
Ben-Shushan: Bizzabo will reach $15M-$20M ARR early next year
“Probably it's going to happen next year. But very early next year.”
Ben-Shushan: Bizzabo grew over 100% year-over-year over past 12 months
“That and above. We are able and even more.”