The Ledger
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LeadFuze CTO exited due to family strain and technical scaling limits
“So a couple of reasons, I think you know, certainly family issues we're a big part of that. You know, he was needing to be involved quite a bit on, on the product, obviously as a startup early stage, you're hustling. Right. And so when you have a wife and kids…”
McGill bought out LeadFuze's departing CTO to recover equity
“So we, I bought him out essentially. So he's no longer, you know, he no longer has a stake.”
LeadFuze suffers shockingly high 20% monthly customer and revenue churn
“So we're at about 20, just under 20% which is way too high. And I've got a whole story for that, but and then revenue churn is right about 20% again, way too high.”
McGill: LeadFuze does not plan to raise another funding round
“We don't plan on doing another round, you know, like this is going to be just basically a, it's a one shot deal. You know, we kind of have the business structured where we're not going to need to raise more.”
LeadFuze avoids paid ads, estimating a $300 CAC via founder salaries
“We're not doing any paid advertising, right? So I guess to Calculate our CAC here. We're kind of looking at more our salaries to be honest. So between Damien and myself kind of on the sales and marketing side, what was like where we spend time? Like I'm obviou…”
LeadFuze raised $150k from Rob Walling, David Hauser, and Adam Gustafson
“We just recently raised some money, like a small round, a 150,000. We may end up adding another a 100,000 or so, but we raised a 150,000. We've got some awesome investors like Rob Walling of drip, who I know you've talked about their product. They just recentl…”
LeadFuze converts 11% of visitors to trial and 8.5% to paid
“And so, you know, right now from website, like new website visitor to free trial, we're at about like 11%. And then from free trial to paid, it's about eight and a half percent on that conversion.”
LeadFuze projects finishing 2016 with over $400,000 in total revenue
“We'll, we'll end up this year at a little over 400,000.”
LeadFuze sources data using proprietary crawling, Clearbit, and FullContact
“Obviously from our own crawling engine aside from that, you know, clear bit full contact, our data, you know, those are a few of our data providers.”
LeadFuze exited 2015 at roughly $6,500 in monthly recurring revenue
“We ended the year with software revenue at about 6500 dollars a month in MRR.”
LeadFuze launched as a manual service without customer software access
“So we actually kind of based on how we started is this done for you model where you didn't even have access to software. I mean, we wrote your email scripts, we did the email sending, and then we just forwarded you leads and that kind of helped us validate thi…”