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.
why aren't all 15,480 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 52 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Pearsall: Club Caddie is earliest-stage acquisition in Constellation's history
“We are the earliest stage company that Constellation's ever acquired.”
Pearsall: Club Caddie Deal Has the Longest Earn-Out in Constellation History
“I have the longest earn out in CSI history.”
McKeefery gave multiple employees over $1M discretionary payouts after selling Reviews.io
“I mean, I, some of my team members got over a million dollars earn out of this. You know, some people got way more than that and some people got a little bit less, but I did try and make sure that everyone was brought along from the journey.”
Tembo currently spends over 100% of its revenue on Claude API costs
“It's definitely more than a hundred percent of our revenue is going to Claude right now.”
Moore: Superwall's personalized pricing boosts revenue 20% to 30% overnight
“And it's just been massive for the companies that have tried it. We're talking about like companies in the you know, five to 10 in MRR range. Just seeing 20, 30% lifts in revenue overnight.”
Zitoun: Submagic experiences a very high 15% monthly customer churn
“Our churn is around 15% today, so it's very high, month over month.”
Karandish retains 33 percent equity and full board control at Capacity
“I own a third of the equity and I have my business partner, I have complete board control.”
Singh: PAR Is Second-Best Performing Sub-$10B Public Software Stock
“In that sort of sub-ten billion dollar software, we're the best performer sans one company over the last one, three, five years.”
Singh: PAR Software Had -60 NPS and -99 CSAT Upon His Takeover
“They're gonna see that our software business is on fire, and that our customer NPS is -60. Our CSAT was -99. We didn't have one customer that was green on our CSM scores, right?”
Yampolskiy: Current IPO revenue threshold is $300M to $400M
“Well, you're not going to go, well, right now, if you look at threshold for IPO, you're at like three, four hundred million.”
Jain: AMP Email Generates 5x to 10x Increases in User Actions
“The removal of the friction of the click through to a website or app, I mean, we have seen five times, 10 times increases in actions.”
SaaS multiples still value growth at three times more than profit
“In today's environment, the actual multiple is five to six times, and that's provided that you have growth. So even though we're moving away from a growth at any cost world to a world where efficiency is prized, the reality is that growth is still worth three …”
Levy: Competing legal tech tools do not serve on-site construction workers
“What I'm certain of is none of them are being distributed and automating jobs to be done for people in the project trailer wearing hard hats right now.”
Removing branding from confirmation pages boosted Boomerang's conversion rate to 14%
“We took out all the bright color buttons. Branding is gone. No marketing info. We kept the original one line schedule meetings with Boomerang. And it went up from one percent to basically 20, blended across maybe like 14% because we have less Outlook users in …”
Jasper AI scaled to $50M ARR in 12 months with six employees
“Zero to fifty million ARR with like an island of six people in 12 months.”
Clearbit Reveal solved massive churn by expanding usage across multiple departments
“So I talked to the Clearbit team, the Clearbit reveal team. They said churn was a disaster for that product, and the only thing they could do to lower churn was get other people using other products in other departments.”
Novoselsky: 75% of buyers will be Millennials or Gen Z by 2025
“By next year, literally in three months, 75% of all buyers will be either Millennials or Gen Z.”
Novoselsky: 60% of B2B SaaS Buying Is Done Before Sales Contact
“60% of the process for buying B to B SaaS is done before a Gen Z person gets on the phone or talks to a sales rep.”
Novoselsky: Gen Z Is 50% Less Likely to Answer Cold Outreach
“They're a generation that is 50% less likely to answer any kind of cold emails and cold outreach.”
Novoselsky: Two-thirds of Gen Z buyers want digital purchases up to $50K
“Two out of three of these buyers want a fully digital experience to do their whole purchase, and that goes for 20 K ACV deals all the way up to 50.”
Schumacher: SaaS Group halved DashThis's ad budget while doubling output
“One of the first things were we slashed their Google paid accounts in half. So we basically slashed the budget in half, but we doubled the output. So essentially we forex the lead gen just on that Google, Google paid account.”
Chesseri: South Dakota trusts eliminate state income and capital gains taxes
“If those shares were held in a South Dakota trust in South Dakota, there is no state taxes for income or cap gains. So you save 1.3 million dollars right out of the gate just by having your trust in South Dakota.”
Sam Jacobs: Valuation Premium of Growth over Free Cash Flow Fell to 3-to-1
“It used to be growth at any cost, which means that growth really was worth almost, not infinitely more, but probably maybe 15 to 20 times what Free cash flow was worth today. We're in a world where growth is still more valuable than free cash flow, but only th…”
Every Owner.com BDR generates over $60,000 in monthly closed ACV
“Every single month, every BDR on my team kicks out over 60,000 dollars in closed one ACV.”
Singh: PAR Technology founders invented the point-of-sale terminal in 1978
“In 1978, our founders invented the point of sale terminal.”
Singh: US restaurant unit growth now comes from stadiums and EV stations
“Restaurants are no longer growing in the United States, right? It's like we're over retail, we're over restaurant. And so the growth of the units of restaurants is now in stadiums. It's in convenience stores. EV charging stations. It's not going to be the net …”
Survey: 70% of developers want AI tools, but only 40% trust them
“When we went and did a bunch of, ah, surveys, ah, in our user base, a 100,000 people responded and said, you know, 70% of them wanted to use AI tools for software development or for something related to technology development, but only 40% of them trusted what…”
Ahrefs grew past $100M revenue without a sales team
“Fun fact, we grew, I'll show you the numbers in a minute, we're over a hundred million dollars. We basically used word of mouth, blogs, and YouTube. We didn't have a sales team till we hit about a hundred million dollars.”
Ahrefs study found 96.5% of web content gets zero search traffic
“So a lot of content doesn't get any traffic. This is from one of our own studies. On the, on 96 and a half percent, no traffic.”
Deploying AI lead magnet increased website lead conversion from 0.8% to 4.2%
“And within a few weeks, we'd moved our lead conversion from 0.8 to 4.2%. In real terms, that meant another 36 inbound leads every month Eight pipeline opportunities, and 60,000 of new ARR booked every month since we launched this in November.”
Over 60% of companies have at least 40% untracked shadow IT
“More than 60% of companies have at least 40% of their software, being stuff that IT, finance didn't know, ah, that they had, right?”
ZenBusiness CEO: 10 of 15 acquisitions targeted organic search rankings
“We've done
15 acquisitions.
10 of those acquisitions were organic search position.”
Martin: Remote companies have a 50% higher employee retention rate
“There's a 50% higher retention rate in, in compared to their in-office counterparts.”
Martin: Y Combinator startup cohort shifted from 16% to 82% remote post-COVID
“Pre-COVID, Y Combinator saw that 16% of their startups were started remotely. Today, this cohort, 82% are partially or fully remote.”
Robinson: Retention.com scaled to $12M ARR with six people
“We actually got to twelve million with six people.”
Bill Gates Sr.'s law firm sent iContact a cease-and-desist in 2003
“We did the same thing with Microsoft List Builder back in 2003 when they were around, and what we got was a cease and desist letter from Bill Gates' dad's law firm.”
Schwartz: LendingClub operates as consumer lead generation, not direct business funding
“So Lending Club is really not a funder.
It's a lot of them are like kind of lead gen.
So you're, they're gathering, they're telling you they're doing it, and then they send it out.
But Lending Club is not really a business funding.
They do it more personal stu…”
Britton: Suzy maintains a 75% blended gross margin despite including services
“Our gross margins are 75%. Blend it, including the services which really shows you that we really are running a SaaS business and not a tech-enabled service business, which traditionally runs in the mid to low sixties.”
Bootstrapped Proptech Beat Chicago Rivals Who Raised $80M in Venture Capital
“Had a hundred buildings in Chicago, and all the other competitors had raised 20 to eighty million dollars, and they were all based in Chicago, too, but he had the number one market share, and I'm like, how, how is that possible that in their backyard, you're k…”
Harris: Cloudbeds' Amplify product delivers a 13x return on ad spend
“The ROAS on all of that dollar spent with us is in the teens in terms of Multiple return on, on, on their money spent. So like giving a 13 X return on every dollar they spend with us is beautiful.”
Payne: Security budgets grew 5% in 2023 vs historical 30-35%
“I think the data showing right now, security budgets are growing about five percent in 20, 23. And, you know, historically over the last 10 years, security budgets grow 30 to 35%.”
Malinar: Private funds have nearly overtaken public markets in size
“Today, the private fund industry is almost overtaken the public markets. There are trillions.”
Malinar claims Avestor is the only customizable evergreen fund platform
“We are the only platform in the world which offers a customizable fund, and a customizable fund is an evergreen fund.”
Chili Piper cuts headcount by one-third, from 250 to 170
“So we cut a third of the company. So we went from two 50 to one 70”
Chili Piper achieved cash flow positivity to avoid a down round
“We didn't want to go at a lower valuation, so we said we cut costs, we go cash positive. That's what we do. So that's what we've done.”