The Ledger
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Semin: Salaries make up 95% to 98% of any startup's costs
“Well, there's not, well, obviously, salaries it's nine, 95, 98% of any startup costs, right?”
Semin: Startup co-founders should not split equity 50-50
“I don't think it's a good idea to split evenly, to be honest.”
Founders should avoid splitting startup equity evenly, says Semin
“No, I don't think it's a good idea to split it evenly, to be honest.”
Semin: Enterprise buyers avoid signing multi-year contracts with garage startups
“The problem when you start selling to enterprise customers is that they don't, Really like to deal with small companies, you know, two guys in the garage, like they don't like it. So they're like, well, well, we're going to sign this three-year contract. How d…”
Enterprise buyers avoid unbacked startups over continuity fears
“The problem when you start selling to enterprise customers is that they don't, Really like to deal with small companies, you know, two guys in the garage, like they don't like it. So they're like, well, well, we're going to sign this three-year contract. How d…”
Datanyze tripled its ARR from $2M to $6M in 2015
“In 2015, we went from about two million dollars at the beginning of the year to about six million at the end of the year.”
Datanyze is cash flow positive in most operating months
“No, we're cashflow positive, right? So some months, of course, especially if it's a big event, you know, like dream force, we'll spend more money. And in this case, we'll probably be cashflow negative, but in most cases we're cashflow positive.”
Semin: Datanyze's average contract size is around $20,000 per year
“It's about 20,000 dollars a year.”
Semin: Datanyze was profitable at $1M revenue before fundraising
“We actually, we didn't have to raise money at all. We were profitable back then but, and we were about, we were making maybe a million dollars a year”
Semin: Datanyze investors included Mark Cuban and Google Ventures
“So we raised a very good round and investors included somebody like Mark Cuban, for example, and top VC firms like Google Ventures.”
Semin: Datanyze ARR grew from $2M to $6M during 2015
“So in 20 in 2015, we went from about two million dollars at the beginning of the year to about six million at the end of the year.”
Semin: Datanyze monthly churn is under 1%
“Yeah, no, churn, so churn for us is less than one percent a month.”
Semin: Datanyze customer acquisition cost is around $9,000
“Well right now our customer acquisition cost is around 9000 dollars.”
Semin: Datanyze sees 50/50 split between inbound and outbound leads
“We have pretty much 50, 50% split between inbound and outbound.”
Semin: Datanyze sales reps have monthly quota of $50k ARR
“For a typical sales rep, they need to close about 50 50 K in ARR on a monthly basis.”
Semin: Datanyze has roughly 20% conversion rate from demo to close
“So, I would say it's 20, about 20% conversion rate from demo to close business.”
Semin: Datanyze is cash-flow positive in most months
“No, we're cashflow positive, right? So some months, of course, especially if it's a big event, you know, like Dreamforce, we'll spend more money, and in this case, we'll probably be cashflow negative, but in most cases, we're cashflow positive.”
Semin: Datanyze co-founders did not split equity evenly
“So and since since I was working on this for one and a half years obviously that, that was not an even split.”
Datanyze hit $1M revenue and profitability before raising outside capital
“We actually, we didn't have to raise money at all. We were profitable back then but, and we were about, we were making maybe a million dollars a year, but the problem was when you start selling to. No, sorry, top line. Top line, yeah. Revenue, yeah.”
Mark Cuban and Google Ventures backed Datanyze
“Investors included somebody like Mark Cuban, for example, and top VC firms like Google Ventures.”
Datanyze recognized about $4 million in GAAP revenue in 2015
“Well, gap revenue it's probably you know, four million or something like this”
Datanyze maintains a monthly customer churn rate under 1%
“So churn for us is less than one percent a month.”
Datanyze spends about $9,000 to acquire a new customer
“Right now our customer acquisition cost is around 9000 dollars.”
Datanyze acquires customers equally through inbound and outbound channels
“We have pretty much 50, 50% split between inbound and outbound.”
Datanyze sales reps carry a $50,000 monthly ARR quota
“For a typical sales trap, they need to close about 50 50 K in ARR on a monthly basis.”
Datanyze converts about 20% of product demos into closed sales
“So, I would say it's 20, about 20% conversion rate from demo to close business.”
Semin: Datanyze generated around $50,000 in first-year revenue
“First year, I would say maybe 50,000 dollars, something like this.”