The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 26 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Lee: ProsperWorks is the fastest-growing CRM in the world
“We are the fastest growing CRM company in the world at this moment.”
87% of ProsperWorks users engage with the product daily
“And I will tell you that the one thing that makes ProsperWorks very unique compared to all CRMs is that 87% of our licenses use ProsperWorks every day. Every day, including the weekend.”
Salesforce churns 3% to 9% of annual revenue, estimates John Lee
“Salesforce is churning anywhere from three to nine percent of the revenue a year on a twelve billion dollar business.”
Lee: ProsperWorks is the only CRM recommended by Google
“And, you know, to the point of the Google relationship, we are the only CRM that's actually recommended by Google.”
John Lee argues net churn matters far more than gross churn
“Yeah, I think that gross revenue is sort of less important. It always just depends on how you cut it, right? So if you remove infant churn and all of that kind of stuff, so we're not disclosing the gross churn at the moment, but I think the key is basically th…”
Salesforce implementations cost 1-3x the license fee, says John Lee
“Unlike Salesforce, you're paying One to three times your license fee. You're spending anywhere from one to six months basically implementing Salesforce for your organization.”
Lee: Google Is an Investor in and Customer of ProsperWorks
“And Google's an investor.
Google's a customer.”
ProsperWorks claims a 26% compounded monthly revenue growth rate
“And I think that speaks to the fact that we've grown at a 26% compounded monthly growth rate.”
ProsperWorks sees 116% to 117% net revenue expansion by month 13
“On a net basis, we are actually expanding. So on average every quote, every dollar that comes in, in month one, a month, 13 is about a buck 16 to about 12. Great. But we're seeing net expansion overall. And so that's what's contributing to our rapid growth and…”
Lee: ProsperWorks is not for sale to Amazon for a quick flip
“I, no. Not, I would not sell the Amazon. This is a massive market. I built this company to help bring prosperity to the world, to usher in the relationship era. And I've built and sold three companies in the past. To me, I'm not looking for another flip. I'm l…”
Lee: Ad arbitrage businesses are valued on EBITDA multiples, not revenue
“I think that it's valued primarily today on EBITDA, so operating income, because at the end of the day, you're paying for media, you're generating revenue, the product that you're ultimately building is profitability, right? You're building, that's the product…”
Lee: Ad arbitrage businesses trade at 8x to 15x annual EBITDA
“Anywhere between eight to 15, depending on the growth rate.”
Lee: DNA Games investors made a profit in Zynga acquisition
“No, investors definitely made money on the deal. I mean, I think they probably wanted to make more money on the deal.”
Lee: Forrester Finds 47% of CRM Implementations Fail
“And the biggest problem is that 47%, according to Forrester, of CRM implementations ultimately lead to failure.”
Lee: SaaS LTV-to-CAC converges to 3x-4x as companies scale
“What you find as companies mature is that you get diminishing marginal returns, which means that, you know, as you add more customers or your rate of new customer growth increases then the cost to acquire also increases as well. So we see convergence. Of LTV t…”
Lee: SaaS companies should expand sales teams while magic number exceeds 0.8
“You make sure your magic number is, you know, above 0.8. And if your magic number is above 0.8, then, you know, you keep expanding.”
Lee: ProsperWorks operates at negative net revenue churn
“Yeah, so on a net, I can't comment on our gross, but our net churn is actually negative.”
ProsperWorks has raised $87 million in venture capital
“We have raised a total of eighty seven million in venture financing.”
Lee: ProsperWorks ARPU exceeds $60 per seat monthly
“I'd say it's a little higher than it's a little higher than 60.”
Lee: ProsperWorks LTV/CAC exceeds 3x with 16-month CAC payback
“So LTV to CAC is greater than three. Our CAC payback is within 16 months.”
John Lee built a $47M advertising business in two years without VC
“And we built a forty seven million dollar business basically in two years. We didn't raise any venture financing, so it was all personally funded out of credit cards and loans and all that kind of good stuff.”
Zynga's ChefVille was the world's largest game by daily players in 2012
“And we built a game called chef bill. That was the largest game in the world by daily active players in 2012 and was the most successful game launch for the company that year.”