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
Zeb Evans self-funded ClickUp via personal convertible note at $5M cap
“If you are a second time founder, which Zeb had already made money on the first agency customers, he was his first investor in ClickUp and he wrote himself on a convertible note, a million dollar check into the business. At a three or five million dollar cap.”
Oates: $40 DIY booth yields 800 leads versus 300 for $70k setups
“So I pay 40 dollars to bring my booth. These other suckers are paying 70 grand to have their booth made. And guess what? I get 800 leads per trade show, And they're getting 300 because it's not about the show. It's about the hustle.”
EstateSpace converted $4.3M in family debt into 8.5% equity tax-free
“We converted 4.3 million dollars of debt into eight and a half percent equity.
Because Ron is my father and I'm his son the IRS saw that this could have just been simply a contribution.”
Cotton: Tenfold allowed laid-off employees to keep their equity
“One of the things that we did is we made sure everyone kept their equity so that they felt like they still had a piece of something, that they still had to share for the work that they had done to get us to where we were, and actually many of those people Actu…”
Cotton: Tenfold cut headcount from 200 to 29 at $5M ARR
“So the company was about 200 people before I joined. I took it to 29, and that was at five million in revenue. We went down to 29 people, and it was probably 80% of the 29 that were left were developers”
Cotton: Tenfold recapitalized to expand the employee equity pool to 50%
“We also were successful at getting 50% of the company back in the hands of the employees. You can imagine raising three rounds of capital now with the types of valuations that we had taken a lot of dilution on, and we were probably down around 15% was what emp…”
Arrigoni: Bee converts an exceptional 15% of website visits into signups
“So today we convert
15% of every site visit into a Bepo signup”
Bee saw a 2,250% increase in builder workflow conversion
“When we switched to this there was a 2250% increase
In the conversion of people that were in the builder and went to the next page.”
Pokros: Verblio developers are Latin American contractors at 20% to 25% cost
“All of our developers, our individual contractors are out of Latin America that are maybe a quarter, maybe two, 20% of the cost work with our team full time.”
Miller: Acquired competitor Variato for $3.5M after initial $19M valuation
“We started a negotiation where we were going to pay them. Nineteen million dollars on it. Then they were doing twelve million of revenue. But by the time we close the deal, they were on a Eight million dollar run rate, and they had run out of money, and they c…”
Miller: Investors injected another $3M into Awareness Technologies
“The VC has put in another three million bucks to fund, so it's not only not making six, they're actually losing money”
Prados: VC software valuation multiples max out at around 7x revenue
“Like the economy right now, everybody's puckering up. It's like seven times revenue is, is where they want to kind of max out at.”
Limelight dropped 400 of 405 customers to focus on enterprise carriers
“We had 405 customers, 400 the broker channel and five in the carrier. So we cut off completely the broker channel, which was really scary and got rid of 400 customers. We were left with five.”
Yunus: vFairs reached $30M ARR with no outbound sales team
“Over the next 20 minutes, ah, I will walk you through how we have took Vfares from zero million dollars in revenue to thirty million dollars in revenue without hiring any outbound sales team.”
Yunus: vFairs generates a 25% to 50% profit margin
“So, you know, all of this revenue, at least 25% to 50% just goes back in profit.”
Craig Fuller: 70% of FreightWaves' SaaS deals originate from its media
“70% of our deals that come into our into our enterprise SaaS business are closed because those companies read about the data on our own media business.”
Boscovic: Flatfile automates 97% of data exchange decisions
“So fast forward three years now with the billions of decisions we've observed across our customers, we can automate 97% of the decisions in the data exchange process.”
Nathan Latka estimates the US flooring ERP market caps at 50,000 seats
“Cause this just feels like to me, like there's only 500 potential clients in the U S you know, they only have a maximum of a hundred seats of pops. There's only 50,000 seats.”
Latka: Fast-growing startups cannot get 10x multiples in late 2022
“I'm seeing fast growth companies today, not be able to get 10 X multiples like they used to eight months ago.”
Lemkin: Half of SaaStr ticket revenue comes in the final 60 days
“Half of all the revenue comes the last 60 days, but we market it 12 months a year.”
Lemkin: SaaStr Lost $10M in March 2020 Due to Venue Booking Blunder
“So we lost the dates. So that was supposed to be February, 2020, which we would have pulled off, but because it was March, we lost ten million dollars because of the issues in March of 20, 20. That was a ten million dollar mistake from a lie.”
Jacoby: 80% to 90% of our booked meetings come from cold calls
“I will tell you this today, Nathan, 80 to 90% of the results meeting the leads that the meetings that we book are human being picking up a telephone, speaking to another human being and booking that meeting.”
Morentis: Surefire Local quadrupled its valuation after raising venture debt
“I, you know, quadrupled the valuation of my company for my investors and me, you know, so is it expensive?”
Bpifrance startup loans only require repayment if the company succeeds
“It's basically, you need to pay back if you succeed. And for any fundraising, you can actually like get more debt, but if you fail, you don't need to pay back.”
Evotix faced an $11M lawsuit from its largest customer upon acquisition
“Well, we were being sued for eleven million dollars by our largest customer.”
Coxell: Data Anchor has achieved zero churn to date
“I'm also proudly stating that we have zero turn thus far.”
Avarell: Ember operates near breakeven with almost zero cash burn
“I can tell you, we operate pretty close to a breakeven. Like we've not burned hardly any cash. Most of the cash that we put on the balance sheet is to buy inventory.”
VideaHealth's AI Algorithm Reduces Missed Cavities by 43%
“In our clinical study, we have shown that we reduced the missed cavities by 43%, which is huge, right? But at the same time, we reduced the errors by 15%.”
Liu: Magic Eden became world's second-largest NFT marketplace in seven months
“We started magic Eden seven months ago in that time we've become the second largest NFT marketplace in the world.”
Liu: Magic Eden Reached $1B Cumulative GMV in 4–5 Months
“And we're the fastest marketplace to reach cumulatively a billion dollars in GMB traded. So we did that in around four or five months.”
Hyman: Sapia.ai costs $20 per hire compared to $1,500 for RPOs
“So if you're using an agency, I don't know what it's like in the U S but in Australia, you know, you might be paying 1502 thousand per hire for an RPO. You know, you're paying 20 bucks per hire with our technology.”
DiscoverOrg expanded RainKing's profit from $10M to $35M in three months
“We made this acquisition of a company that was doing forty million dollars in revenue and ten million dollars of profitability. We acquired the business, and then three months later, it was doing forty-five million and thirty-five million dollars of profitabil…”
Abbott: 90 achieves sub-1% annualized churn when fully adopted
“If you use our system and you cascade it all the way down so everybody in your company is using our tools, including the feedback tool, our churn rate, annualized, is less than one percent.”
Al-Sheikh: Local on-device processing cuts ML production timelines by a year
“We're really taking it to a whole new, you know, level by doing all the processing on devices. And that basically eliminates a year from the timeline of production for companies.”
Latka: Series A SaaS startups are seeing 25x to 40x revenue multiples
“Most people in their series A right now are seeing between like a 25 and 40 X multiple. If they can convince the market that they are truly a SaaS movement”
Kannan: Security breach erased sales pipeline, stalling $400M revenue target
“We missed it because we had a, you know, security breach. So, you know, we have, we had to like pause and you know, our sales pipeline essentially vanished. So it took about a year to recover.”
Bendov: Gong maintains over 150% net dollar retention
“So our NDR is almost always, like, even these days, moreover, like, a 150%.”
Medina: Outreach leads sales engagement market in accounts and revenue
“So we know by the numbers that we are the one that with the most accounts and the most money.”
Porter: Salesloft invented the sales engagement software marketplace
“We really invented this sales engagement marketplace, and what that means is companies come to codify their go-to marketplace.”
Porter: We killed a $7M data product 18 months in to pivot
“Had a data product that went from zero to seven million in about 18 months that I canceled and completely changed the business on.”
LaCivita: Play cohorts see 80% to 85% retention at week seven
“So we have cohorts emerging in terms of retained users at five, six, seven weeks that are 80, 85% retained, right?”
Stripe pays $350k for mid-range software engineers in Ireland
“I mean, I see on these boards on Reddit that Stripe are paying 350 K for mid-range engineers. I mean, that's madness in Ireland.”
Darbyshire: SmartSuite reached 400 paying accounts in first four weeks
“We have about 400 accounts that are on the platform in the last four weeks.”
Falk: Hacker News drove 2x to 3x more users than Product Hunt
“Fig was at the top of hack and use basically all day. Like it was a really long day for my co-founder and me, but that got us, I would say double if not triple the number of users from hack and use as opposed to product time.”
Jackson: Braintrust has a fixed, dilution-proof 250M token supply cap
“It's locked into our smart contract that we have a fixed supply, two hundred fifty million tokens, which is interesting, right? Because you can never be diluted, right? It's dilution proof.”
Jackson: Braintrust fee converter buys BTRST on open market with enterprise fees
“Last week, there was a community protocol upgrade where the community basically said, hey, that 10% fee collected from clients in cash needs to be paid in brain trust token. The community developed a new smart contract called the fee converter, which takes US …”