The Ledger
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Florio: Foxy sits between investor tiers and does not need capital
“We've found that once we started getting on people's radars, we are not big enough For certain types of investors, and we're too big for others, so we, what we need less than money would be the team that the money brings, and we tend to, we're just, we don't r…”
Florio: E-commerce pricing models become unworkable without minimum fees
“What we've seen and what we've discovered for ourselves, although we've never tried a more sort of freemium with only the transaction fees, but what we've seen from others and what we've done from our own math is that without some sort of minimum fee, it becom…”
Florio: Foxy charges 0.5% per transaction capped at 15 cents
“So it's technically our pricing is technically half of a percent up to a maximum of 15 cents.”
Florio: Monthly SaaS fees drive the bulk of Foxy revenue
“The bulk is from the monthly fee, the SaaS model.”
Florio: Foxy has thousands of customers on its platform
“We don't share that publicly, but I'll say it's thousands.”
Florio: Foxy offers an unlimited free trial until stores go live
“We offer an unlimited free trial. So you only have to actually pay when you want to take your store live. So when you want to collect real dollars from real customers, because we're developers ourselves, we know that most developers in projects are not wrappin…”
Florio: Foxy supports 100 payment gateways, including Stripe
“So we're, we support a hundred different payment gateways, including Stripe.”
Florio: Foxy's growth has slowed to a very low rate during platform housekeeping
“Well, in the early days, you know, it was a much higher number. We sort of plateaued a little bit and we're, the growth is picking back up. So right now we're in a little bit of a weird place. We've done a lot of housekeeping. We're very old. So right now the …”
Florio: Foxy operates with under 10 remote employees after 11 years
“So 11 years in, we're still a pretty small team. We're under 10. We're about half in the US, half international. Everybody is fully remote.”
Florio: Foxy's paid CAC was north of $100
“I think it was definitely north of a hundred dollars or so.”