The Ledger
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Lee: Sona has experienced zero churn in two months of beta
“Yeah, so with Sona, I mean, we have, we've had zero churn.”
Running an agency provides invaluable insights for building SaaS products
“I really like hip lead just Continuing to run it is because it just, it gives us a great amount of insight into what a lot of different companies are doing and their problems, and that's hard to, that's really hard. Well, you can't put price on it. It's very e…”
Connor Lee: Revenue-based financing generally requires profitability and $1M ARR
“Usually these types of loans are only available to companies that have, you know, profitable, functional businesses doing, you know, over a million in ARR. I think that's their model.”
Connor Lee: GoPersonas generates $130K app MRR and $180K enterprise MRR
“We have so we're doing roughly a 130 K in the app on MRR and about a 180 K in our enterprise.”
Connor Lee: Six enterprise SaaS clients pay GoPersonas $180K monthly total
“We have, and we have about six pretty large SAS clients that, that are paying us a 180 K a month in total.”
Connor Lee: GoPersonas repaid $225,000 on a $150,000 Lighter Capital loan
“So we use letter capital. Yeah, we were, we haven't our loan was 150 K in actual loan and we had a 50% interest paid over, over three years. So we paid 225 K 70, 70,000, you know, in in, in, in fees and whatnot.”
Connor Lee: GoPersonas sees 0% enterprise churn and 12-15% self-serve churn
“We haven't had any churn on our enterprise whatsoever. So zero percent there, but on our, yeah, we're at 12, 15% churn on, on the self-serve go percentage.”
Connor Lee: GoPersonas operates at approximately 95% net revenue retention
“It's about five percent churn overall.”
Sona has reached $28,000 in monthly recurring revenue
“So we built a product called Sona and it's go Sona.com and we're doing about a hundred and I'm sorry, but 28,000 in, in MRR already with Sona.”
HipLead's agency revenue funds development of new SaaS products
“Yeah, I mean, we might in the future. That's definitely a possibility, but you know, as a, you know, as a bootstrap company Hipplead's, Hipplead's revenue is, is, is growing, is paying for development and all of that on the other products.”
HipLead charges $2K-$4K monthly on average; its largest client pays $20K
“And we charge companies between you know, between two and 4000 dollars a month on average. I think our biggest client is around 20,000 dollars a month.”
HipLead generates over $120K in monthly recurring revenue as of late 2016
“Yeah, at least we're doing you know, more than double that.”
HipLead used revenue-based financing from Lighter Capital instead of raising equity
“No, it was actually it was actually a loan from lighter capital. Oh, it's sort of like a bank loan. But that it's invoice or revenue financing basically.”
HipLead raised over $200K in debt financing to make key hires
“It was a little over 200,000 dollars. Okay. It wasn't much. It was just to make a few key hires.”
Connor Lee: GoPersonas serves roughly 110 customers on its software tool
“We have about on the hip lead at, well, on the personas actual tool, we have roughly a hundred, a 110.”
Connor Lee: GoPersonas has no outside equity on its balance sheet
“There's no actual, like, you know, true equity on on our books.”
Connor Lee: GoPersonas employs 20 people globally
“So we have eight employees in SF and we have 12 other remote employees kind of all over the world.”
HipLead remains mostly bootstrapped after an initial $200,000
“Yeah, we've stayed at that level. We haven't raised, we're still bootstrapped more or less and stayed at that kind of level.”
Lee: HipLead has worked with nearly 300 B2B SaaS companies
“We, you know, we built Sona, basically, because we had a lot of insights into how, you know, we worked with over, I think, now, 250, almost 300 different companies that are all SaaS companies, B to B SaaS companies”
HipLead employs 5 people in San Francisco and 12 globally
“So we've got five in SF and another 12 around the world.”
Connor Lee's telephony startup Telfi generated a few thousand dollars monthly post-YC
“We were doing a couple thousand dollars a month in revenue we were a couple months out of YC. And the company itself was basically trying to do Google voice for business, compete with grasshopper as a telephony startup that was built on Twilio.”
HipLead repurchased unvested equity when Lee's co-founder departed after 18 months
“I've always had, you know, majority ownership of the company. And so you know, he was, you know, co-founder for about a year and a half. And so, you know, basically when he was done, we would, you know, we made sure I started a few companies now and I always m…”