The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Kim: Sendlane converts 60% of sales demos into closed deals
“We've been on pace right now. We're closing 60% of our demos. So, when we get on a demo we'll close at 60%.”
Kim: Content creator customers churn faster and have smaller deal sizes
“What we were serving before, like a lot more of the content creator space. It was just a more difficult mark to find. And we found that the size of these customers tended to be much smaller. So you would have to get more velocity. Under your belt in order to d…”
Kim: Sendlane pays sales reps 40% of first month or 5% annually
“If they come in monthly, they get 40% of the first month's payment and then they bring them annually to get five percent of the Entire annual chunk.”
Kim: Sendlane infrastructure ownership eliminates per-email sending costs
“We own our own infrastructure, so we don't care. It doesn't actually cost us more money to send more emails out outside of simple server usage.”
Kim: Sendlane cut CAC 3x by promoting educational content over product demos
“Instead of going out and trying to advertise the product or advertise the demo, we started advertising content, really high value, good content, actionable. And basically we were able to drive our cost per acquisition down by
Almost three X.”
Kim: Equity suits acquisitions while debt better finances headcount growth
“If I wanted to go buy a bunch of companies and start acquiring for companies, then I'd probably go take a raise out, right? Because that makes sense. But if I'm looking to grow the company and start adding head count, I think it's much easier to take in 500 50…”
Kim: Sendlane's monthly churn rate is slightly above 6%
“It's about a little over six percent right now.”
Kim: Sendlane maintains a five-minute customer service response time 24/7
“An average customer service response time in most industries, about eight hours, right? Ours is five minutes, 24 hours a day. It's 365 days a year.”
Kim: Sendlane customers pay roughly $255 per month
“They're paying about 255 bucks. Roughly a customer now.”
Kim: Sendlane sales reps average $8,600 ACV on closed deals
“The sales team right now is running about 8600 dollar ACV right now on their closed deals.”
Kim: Sendlane sets sales representative quotas at $4,000 new MRR monthly
“His MRR was right, roughly 4000 dollars. That's what he needed to hit.”
Kim: Sendlane burned $500,000 building its failed first sales team
“And I kicked myself because I wish I would have figured that out before a year ago. And I would have saved probably half a million dollars of burn that I spent you know, trying to grow that sales team and losing it.”
Sendlane crossed $420,000 in monthly recurring revenue in August 2020
“We crossed a little bit over 420,000 dollars.”
Kim: Sendlane targets a maximum CAC payback period of eight months
“Eight months. Eight months is my goal is my mindset of goal. Like max, I want to go to eight months payback.”
Kim: Sendlane's revenue-based debt carries a roughly 1.3x repayment cap
“I think for us, it's like a 1.3 per 1.3 X roughly. So essentially over a three year term, we're going to pay 1.3 times more than we take took in as money.”
Kim: Sendlane pays Lighter Capital 8.5% to 9% of monthly revenue
“For us with lighter than we worked with them, it's a three-year term, right? It's revenue based. So it's based on your revenue and it's tiered buckets based around your revenue. And it, Depending on how much you're making, they're taking a percentage up to abo…”
Kim: Sendlane's enterprise tier hits 105% net retention despite 17% logo churn
“Overall churn, entire company running about four percent on the revenue churn, about eight percent on the logo side on overall company, but if we hone down on the revenue where the sales team's operating, which is what we call our pro or enterprise level we're…”
Kim: Sendlane acquires content leads at $2-$3, converting 10% to SQLs
“We're driving leads at about two, three dollars a lead. That's what we're holding up leads at. And then from there, we're getting about one in 10 as a sales qualified lead. And then naturally we're bringing one in 10 of those people 10% of those people are act…”
Sendlane took on multiple venture debt tranches from Lighter Capital
“Yeah, actually, we actually use debt to you know, we've been with lighter capital a couple times now with a couple different tranches, actually just as recent, recently as the company kind of exploded this year, a lot of our growth happened in 2020 this year, …”
Kim: Sendlane's customer lifetime value is under $300
“Right now it's right under 300 bucks right now.”
Kim: Sendlane plans to raise $1M to fund marketing
“We're looking at raise about a million dollars probably.”
Kim: Sendlane reached profitability almost from its first month of hiring
“We put our money in initially to build the platform out, and the moment we started hiring people, we were actually profitable from almost the first month in.”
Kim: Sendlane's $49+ customers stay 18 months versus 3 for cheaper tiers
“When they're paying 49 or above right now, the stick rate is like 18 months. It's really heavy. When they're under there, that's where all my churn rate comes in. It's like three months.”
Kim: Sendlane currently has 6,500 active paying customers
“Active customers, we have 6500 right now.”
Kim: Sendlane spent only $36K on advertising across two years
“That actually explains why we've spent only 36,000 dollars in two years of advertising, and everything else has been 100% influencer driven. We don't have many affiliates. We pay out like 2000 a month affiliates.”
Sendlane generates about 300 inbound qualified leads monthly
“We're bringing in currently inbound about 300 qualified leads from our website”