The Ledger
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Freestand bundles SaaS software costs into its per-sample distribution pricing
“While we are a SaaS company we have to bundle in our SaaS costs as a part of the first sample price that we're giving away to these brands. So we charge the brands on the basis of like how many samples they distribute with us on a monthly basis.”
Freestand charges CPG brands roughly $1 per sample for distribution
“10,000 samples a month they're paying for typically around 10 10,000 samples.”
Freestand currently serves six active CPG brands from 20 lifetime customers
“20, not 20 active customers, 20 customers that we've been through. Currently we have about six active customers.”
Freestand's active customers pay an average of $6,000 per month
“On an average close to I think about, yeah, so there's a wide spectrum there, but I think the average would be closer to like six thousand dollars would be close.”
Freestand reached $10,000 monthly revenue pre-COVID before temporarily dropping to zero
“Last year, we were like zero at the same time, because essentially we you know, in that month, we were essentially, we kind of bent into COVID, and we decided to, we realized the fact, it was pre-COVID that we had touched 10,000 dollars in, I think, March of t…”
Freestand aims to raise $1M to $5M for its next round
“I think it's going to be between you know, one to three, one to five million is where we are essentially aiming for us and to go from here.”
Freestand is expanding from pure B2B SaaS to a SaaS-enabled marketplace
“B to B SaaS. We are looking to change. We're looking to expand our business model from being B to B SaaS to being a SaaS enabled marketplace for product sampling”
Freestand raised a $150,000 seed round led by Succeed Innovation
“We raised about a 150 150,000 dollars is what we raised. It was led by Succeed Innovation was our VC. In this year itself, we raised it in April.”