The Ledger
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Wave has nearly 200 employees and zero sales reps
“We're closing in on 200 people in the company. We don't have a single sales rep that works here. Not an inside sales rep, not an outside sales rep.”
Wave freemium users sometimes take 24 months to convert to paid
“And you know, the interesting thing that we see Nathan is that we'll get some people to be paying in the first month. And then we'll have others who are using the free platform for 24 months, and on the 25th month, convert into pay.”
Wave acquires roughly 70,000 of its 80,000 monthly signups organically
“Of the 80,000, as I've said, you know, about 70,000 are coming in organically.”
Very few Wave users escalate from Drift chatbots to humans
“The amount of them that are going from the bot into wanting to interact with a human is very small.”
Kirk Simpson: 95% of North American businesses have under 10 employees
“About 95% of all businesses in North America are in this size.”
Wave's paying customers average $70 to $100 per month
“So up in the 70 to a hundred dollar range on our paying customers for all of their transaction processing, et cetera.”