The Ledger
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Peter Thiel is not closely involved in the Thiel Fellowship
“Peter isn't like super closely involved, granted I've been in quite a number of times.”
NeoReach minimum fee is $25K; multiple brands pay over $1M
“We typically, the minimum licensing fee for a brand is about 25,000 dollars annually, and we have quite a few, as in more than a handful of brands spending over a million dollars with us annually.”
NeoReach average revenue per customer is around $200K annually
“I think our average revenue per customer is around 200,000 dollars a year.”
NeoReach has passed 100 total enterprise customers
“We just passed a hundred. I think about one or two, one or three, something like that.”
NeoReach is growing annual revenue between 2x and 3x
“We're in between two and three X a year growth rate right now.”
NeoReach sees roughly 20% churn, primarily among $25K accounts
“It's close to closer to 20% of customers churn, but we grow at a significantly higher rate than that. And the ones that stick kind of Really expand. You know, the ones that tend to turn tend to be the 25,000 dollar a month cost, the 25,000 dollar a year custom…”
Multiple NeoReach accounts expanded from under $100K to over $1M
“We've had quite a few customers started under a 100,000 dollars a year with us and actually expand to over a million dollars a year. And those types of customers, this tiny niche that's scales massively drives almost all of our growth.”
NeoReach gets over 1,000 inbound leads monthly
“Almost, almost, almost a hundred percent of our leads are inbound, right? But we get over a thousand inbound leads a month.”
NeoReach typical CAC is roughly 40% of first-year ACV
“We spend on a, on sort of our typical If you take out outliers, we're spending about 40% of first year customer.”
NeoReach has raised $4M across two funding rounds
“We've raised a four million across about two rings.”
NeoReach projects reaching $25M in revenue next year
“We're trying to, we're more than double next year and more than double for us is, is going to be about twenty five million as we're projecting.”
Zappos signed as NeoReach's first brand customer for $5K
“The first real customer we got was Zappos. The CMO of Zappos actually responded himself, introduced us to his ad agency, introduced us to someone else at Zappos, and they signed up for, I think it was a small deal at the time, 5000 dollars for a year license, …”