The Ledger
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Johnson: Revi hardware costs $500 and pays back in 3-4 months
“It costs us about 500 bucks to purchase all the hardware. We usually make our money back within, you know, three or four months.”
Eugene Johnson: Revi grew GMV from $2M in 2019 to $15M in 2021
“So to put it in perspective, in 2019, we did two million dollars in GMV. In 2020, we did five. This year we're on track to do 15.”
Johnson: Revi charges merchants a transaction fee of around 1%
“It depends on their volume, but it's usually around one percent.”
Johnson: Revi earns a sweet spot of $1,000 monthly per merchant
“I would say a thousand is a sweet spot, you know, that's probably where most people land.”
Johnson: Revi hit $1M+ ARR, growing 3x from $300K a year prior
“We've grown three X since the, since last year. So we were about 300,000 dollars a year in revenue a year ago.”
Johnson: Revi grows Gross Merchandise Value by 10% to 15% month-over-month
“So, you know, basically we grow about 15, you know, 10 to 15% month over month.”
Johnson: Revi has raised $4 million to date across pre-seed and seed rounds
“So we raised A pre-seed of about a million and then a seed round of about two million. What year? About four million dollars to date.”
Johnson: Revi monthly churn is sub-1% excluding COVID-driven restaurant closures
“Churn is only 2.8% since COVID and that includes businesses... Monthly... And that includes businesses that we lost to COVID. So if you take those businesses out, you know you know, those businesses who didn't survive COVID, You know, it's sub one percent.”
Johnson: Revi uses POS data for automated customer marketing campaigns
“What we do is we facilitate transactions, but instead of just stopping at the facilitation of transactions, we leverage the data almost in an e-commerce style process to drive those customers back into this door to get them to spend more and essentially get cu…”