The Ledger
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Blue Rabbit bought back an angel investor's 15% stake at zero return
“We bought him for, we paid him back the same amount, only 24, 25,000, but it was before the five-year contract.”
Latka bluntly tells Letayf that Blue Rabbit is not a SaaS company
“I just don't think you're a SaaS company.”
Latka: Companies cannot scale relying entirely on on-demand contractor teams
“This sounds like hell, man. What gets you so, I mean, this is why you don't scale. You don't, you're the only one, I mean, you don't, no one's incentivized to help you scale. There's no other full-time employees.”
Blue Rabbit sustains a five-person team in Mexico on $75,000 ARR
“Some of them will only earn on commission, and in case, whenever an event comes up, and fortunately, we're using Mexican salary, so 75,000 dollars is a lot of money for a Mexican company, so we have plenty to provide.”
Letayf projects Blue Rabbit will reach up to $150,000 ARR in 2020
“I hope we get there to at least 120, 150.”
Blue Rabbit restricts event volume due to manual custom content demands
“So we have, instead of having 2000 events a year, we're having 20, or we're having 40, and we have to run them ourselves. So we're not growing faster because our platform, ah, the client hires us, they want us to build the content.”
Letayf: Blue Rabbit relies on on-demand contractors for five-day events
“Yeah, we turn on and off basically on every event that comes up, And they work with me for five, six days full-time, and then they go back to their-”
Blue Rabbit grew revenue from $24,000 to $75,000 in under a year
“Last year, but we went from making 20 four to 75,000 in less than one year.”
Blue Rabbit has around 40 to 45 clients
“So we have around 40, maybe more, maybe 45 different clients right now.”
Blue Rabbit fired its sales team and reduced total headcount to five
“Right now it's we were seven when you last interviewed me. Now we went back, we went down to four, but we have now a fifth person who helps me deliver content and designed experiences, which is a different way. And we got rid of the salespeople because they we…”