The Ledger
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VC-backed SaaS competitors often outspend their total revenue on sales and marketing
“The other people who show growth do it by spending tens of millions of dollars to grow ten million a year. In other words, their sales and marketing budgets tend to be bigger than their revenue.”
Sprinklr and Hootsuite are fundamentally publishing tools, not conversation managers
“Well, those guys really at their core are publishing platforms. Their core DNA is for the brand to create content and manage an authoring workflow of one or many people.”
LiveWorld claims to be the oldest continuously operating social media company
“We were, we are the oldest standing social media company. Everybody else started later, went out of business, or stopped.”
LiveWorld raised $130 million across private rounds and a 1999 IPO
“And then we raised a series of funding, funding rounds of up to about sixty million dollars and went public in 1999 for another 60 something million, so about a hundred and thirty million, including a few million of what's called NBC Peacock money.”
CEO Peter Friedman retains up to 17% equity in LiveWorld
“I actually own about 10%
Straight equity now, and maybe 17% with options.”
LiveWorld currently operates at an annual loss of approximately $1 million
“And right now we're losing money, but typically it's 10 or 15% profit. Oh, a million dollars a year, something like that.”
LiveWorld currently generates approximately $10 million in annual revenue
“Around ten million a year. Company runs around ten million.”
LiveWorld peaked at a $650 million market cap in December 1999
“The company was worth six hundred fifty million dollars on December 3119 99 at one p.m. West Coast time.
29 dollars and 50 cents a share.”
LiveWorld's SaaS product operates at 80% to 90% gross margins
“There's a SaaS, which typically is going to have 80, 90% margins. There is the workforce agents, which typically has seventy-something percent margins, and then there's consulting services, which typically have, you know, forty-percent-something margins.”