The Ledger
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Founders paid more to buy back CustomerHub than Keap originally paid
“They bought it for us for cheaper.”
CustomerHub targets a $10M valuation for its upcoming seed round
“We're shooting for a ten million dollar valuation. So we think with the right growth numbers and stuff, we can get there.”
Founders bought back CustomerHub with 30% cash upfront and 70% financed
“I think it was about 70, 30... 30% cash up front.”
CustomerHub maintained over $1M ARR for five years under Keap
“It got up to a million and a half in annual recurring revenue while, while Keep had it, so. You know, there was probably a five-year stretch of time where it was doing over a million in ARR under the Keep umbrella.”
CustomerHub's platform rewrite represented up to $1M in sweat equity
“We did a majority of the work ourselves in rewriting software, but, you know, it took us over a year. So when you consider the going rate of software engineering, software design, product managers and such you know, we probably spent Between five hundred thous…”
CustomerHub averages a $50 customer acquisition cost largely via referrals
“So right now we're averaging about 50 bucks a month to acquire a customer. So super cheap. A lot of our customers are referrals.”
The Lovett brothers retain roughly 70% ownership of CustomerHub
“And together we still own about 70% of the company.”
Infusionsoft paid between $1M and $2M for CustomerHub in 2011
“It was over a million bucks in between a 1,000,002 million bucks was what we sold it for.”
CustomerHub is expanding its target market beyond the Keap ecosystem
“We're sort of expanding our market reach to step outside of the key ecosystem, which is where we've predominantly been for the past 10 years.”
CustomerHub originally took six months to build as a Keap utility
“Oh it was six months. And so, and we actually didn't even know what we were building. To be honest with you, we built a little utility product for keep users to be able to have their customers log in and manage their billing information and make payments for o…”