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 38 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 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
Competitor Dasharoo failed because it lacked metric customization depth
“DashRu, along with a couple of other folks, are what we would consider widget engines. So there's not a lot of depth to those kind of offerings. You know, with Clifolio, with our offering, you can actually calculate and mash together your own metrics. And I th…”
Wille: Klipfolio generates close to $600K in monthly recurring revenue
“Oh, we're doing about in between five and six. Probably close to six right now.”
Wille: Founders should avoid excessive valuation multiples they cannot grow into
“So a bigger valuation multiple is not always what you want. I'm always a big, big fan of it's gotta be fair for both parties. And that includes the terms as well as the valuation multiple, you know, but you have to be able to grow into that and, you know, the …”
Wille: Paid advertising accelerates growth but lowers conversion and raises churn
“As soon as you start pushing on the gas and you start advertising, you get a slightly different mix. Now it's still important and it's important from a growth point of view, but you have to acknowledge that one of the outcomes, one of the negative side effects…”
Wille: Klipfolio raised a $12M Series B funding round
“So in fall, we went out to market and we came home with a twelve million dollar series B raise.”
Klipfolio will focus marketing spend on SEO rather than paid advertising
“And then from the marketing side, we're actually not going to be pouring a lot of money into paid advertising. We're actually going to put a lot of effort into the content strategy, and we've had tons and tons of luck, and we know other small and mid-sized Foc…”
Klipfolio's initial insider Series B offer was a 5x ARR multiple
“So, so the lowball was, I think it was somewhere in the neighborhood of four to five, I think it was closer to five, five times ARR multiple.”
Klipfolio secured a rare two-year expiring anti-dilution clause in its Series B
“The other thing that was super cool and they did the same thing, and this is pretty rare, but again, it sort of speaks to the trust and the type of investors there was an anti-dilution clause that expires after two years.”
Klipfolio plans to raise capital rather than seek an acquisition
“I think it's definitely it's definitely the first one.”
Founders typically dilute 20-30% in Series A and 15-25% in Series B
“Series A, you're generally, you know, looking at more like 20 to 30%, and if you're looking at a series B, you're anywhere from maybe 15 to 25% at the max.”
AI and machine learning startups command 11x to 12x valuation multiples
“If you're in a really, really hot space like AI and machine learning, you can probably get a, 11 to 12 times multiple.”
No dominant dashboard leader exists in the SMB market yet
“There is no dashboard right now that is the number one or the leader in the SMB.”
Microsoft Power BI is Klipfolio's most formidable competitor
“I think the other one that is probably doing the most interesting stuff is probably Microsoft's Power BI product. I think they're probably our most formidable or most close competitor.”
Allan Wille: Klipfolio serves 8,500 SMB customers worldwide
“We've got the fortune of working with lots and lots of small and mid-sized businesses thousands of them, 8500 of them around the world who really use Clifolo to monitor all the things that matter inside of their business.”
Wille: Klipfolio raised a $12 million Series B inside round
“So in January, we announced a twelve million dollar raise. That was actually an inside round from our existing investors.”
Wille: Inbound tech acquisitions start with product partnership talks, not corp dev
“What always happens first is you get a call from usually somebody in product. So product management reaches out and, you know, they say something like, hey, we're interested in learning more about your tech and, you know, potentially we're interested in a part…”
Wille: Klipfolio gets acquisition inquiries but has never received formal offers
“We've never gotten to any sort of formal discussion where there's actually an offer on the table. We've had a lot of the, you know, the phone has been ringing, but we really haven't moved it forward just because we're not in a position where we're interested i…”
Wille: Klipfolio customers expand from $70 to $115 over 12 months
“Customers come in at roughly 70 dollars. That's kind of their first the first bundle that they buy on average. And then over a course of about 12 months, they move up to about a 115 dollars.”
Wille: Klipfolio generates 35% of its revenue via partner channels
“So 35% of our revenue comes through the partner channel, which is really awesome and healthy.”
Wille: Klipfolio spends roughly $120k monthly on digital advertising
“So we've upped it to about a 120,000 per month.”
Wille: Klipfolio maintains a $700 to $800 customer acquisition cost
“So CAC is still around 700 dollars, 700 or 800 dollars. So we're still running very, very efficiently. So LW to CAC is still relatively healthy, although that's come down a little bit as well as we spend more on advertising. Sure. And then our CAC payback peri…”
Klipfolio reaches 7,000 paying customers, doubling its customer base annually
“7000. That's right. And that's about it. That's about a two X every year so far.”
Klipfolio aims to double MRR in 2017
“We're shooting for another two X and we feel very confident. Yep. That's right. So that is, that's the target that we're trying to hit.”
OMERS Ventures offered to preemptively lead an all-insider Series B
“I got a call from one of our insiders. This is from Omer's Ventures in Toronto, and Omer's is a huge fund as well. Really good guys. And they said, okay, we like your business. Let's make this, you know, short and simple. What would you say if we did an inside…”
Klipfolio raised its Series B at a 6x to 8x ARR multiple
“Yeah, we got, you know, in that sort of six, seven, eight percent or times multiple.”
Klipfolio average revenue per customer is $70 to $80 monthly
“About 70 to 80 dollars on a monthly basis, so we're talking about a pretty inexpensive, a credit card type type user purchasing model.”
Klipfolio raised a $1.7M seed in 2014 and a $6.2M Series A in 2015
“So we did a small seed round, a 1.7 million dollar seed round at the beginning of 2014. We did our series a at the beginning of 2015. So that was a 6.2 million dollar round.”
Klipfolio monthly logo churn ranges between 3% and 3.75%
“So we're hitting around a logo churn and a gross monthly churn. It's about the same metric that is in between maybe three percent at the best per month, you know, to maybe three and three quarters on a monthly basis.”
Klipfolio's revenue is growing at over 2x year-over-year
“So the fact that we're growing at over two X, I think is an important sort of metric to look at as well.”
Klipfolio sees an 8-to-10 month CAC payback and 4:1 LTV-to-CAC ratio
“And if I take a look at my cap payback period, which is about eight to 10 months, or if I take a look at my LTV to cap ratio, like the lifetime value to cap, Ratio. It's healthy as well. It's about a four.”
Wille: First Company Raised Roughly $50 Million in Early 20s
“So in my first company, we raised like fifty million and that was probably when we were about 20, 22, something like that.”
Klipfolio reports $2,300 LTV across 23-month lifespan
“So the 23 is right. The 34 was always more like 23 months.”
Klipfolio operates with 100% inside sales and zero outbound
“No, well, it's a hundred percent inside sales, so we don't have an outbound sales.”
Klipfolio launched in 2001 and pivoted to the cloud in 2012
“We launched it actually in 2001. And we launched it as a consumer dashboard that was super popular, but it wasn't making us any revenue. So long story, sad story, we sort of slogged it out for a great many, many years. And then in 2012, we launched the cloud v…”