The Ledger
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Privy projects a clear path to $8M to $10M ARR next year
“Like, we see a very clear path from four to eight to 10 next year.”
Privy hits $3.1M ARR across 5,000 paying and 100,000 active users
“So we have over a 100,000 active users. About 5000 of those are paying customers. And today we're at 3.1 million ARR.”
Privy reached $3.1M ARR without spending anything on paid marketing
“So we actually don't do any paid marketing.”
Privy averages $50 per month for self-serve and $300 for sales
“We have kind of two segments that we look at. We have a fully self-serve funnel. The average there is about 50 bucks a month. And then we have kind of a product qualified inside sales driven effort that's growing. That's about 300 dollars a month.”
Privy generates 80% of revenue from self-serve and 20% from sales
“So right now, let's see, it's about 80% of the business is self-serve. We actually just brought on our first member of the sales team about four months ago. So ramping quickly but already 20% of MRRs coming from direct inside efforts.”
Privy's predecessor had $1,000 left when an acquisition deal collapsed
“The bank account was basically zero. We had about a thousand dollars in the account. And the deal fell apart. So we were really forced to say, are we shutting down?”
Privy and its predecessor venture raised a combined $4M to date
“Across both efforts we've raised four million to date.”
Most Privy growth comes from marketplace freemium distribution on Shopify
“So most of it comes through this marketplace freemium distribution model that we have.”
Privy ranks as Shopify's #1 marketing app and #2 overall app
“Shopify.
[623] Nathan Latka: You didn't even hesitate.
[625] Ben Jabbawy: I mean, for sure, you know, that it's kind of like a rocket ship over there, and we've, we're the number one app in that ecosystem.
[632] Nathan Latka: For what category, like what searc…”
Privy is expanding into automated abandoned cart and post-purchase emails
“So we are rolling out some of those simple use cases that you would need around e-commerce automation, like abandoned cart emails, post purchase emails, win back, stuff like that.”
Privy maintains a gross monthly revenue churn between 3% and 4%
“Today at a gross level, we're kind of around between three and four.
but as we've expanded our revenue.
Revenue, MRR.”