The Ledger
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Swanick: GrowSumo Used Fake Logos Like Dropbox to Gain Early Traction
“So they saw that there was nothing on our page, so we threw up fake logos, like, Zenefits was huge at the time, Dropbox, you know, those kinds of companies.”
Swanick: Nonprofits only invest in software infrastructure after securing grant funding
“And what we found was that the nonprofit space is incredibly finicky. So everyone's kind of waiting for grant funding to come in, and when they get their financing, then they can talk about actually investing in some scalable infrastructure. And it was a hard …”
Swanick: Evernote has two people managing 10,000 external sales agents
“Evernote literally has two people managing 10,000 external sales agents.”
Swanick: Reseller partner onboarding takes 6 to 12 months to yield returns
“The long tail comes in when you start working with the resellers that require onboarding and you don't really see those returns for six, nine, 12 months.”
Swanick: Most GrowSumo revenue is base fees, but performance revenue grows faster
“Currently, the majority is coming through the base fee, but the revenue fee is what is growing much, much faster.”
Swanick: GrowSumo has roughly 200 customers
“Today, so I don't have a hard number, but I would say just a little north or south of 200.”
Swanick: GrowSumo's monthly logo churn is below 2%
“Yeah, so our churn is quite low like very low. ... I would say lower than two percent.”
Swanick: GrowSumo has 40,000 partners, with 8,000 active monthly
“I think we have like 40,000 partners, 8000 were active last month.”
Swanick: GrowSumo revenue is growing 25% to 35% month-over-month
“We're growing over 25, 35% month over month.”
Swanick: Reading startup books slows founders down through pursuit of perfection
“I read a lot of books on how to start a company early on. And that stuff really kind of slowed me down because you try to be perfect and then you get it out there and it's just not. And I think that that would be the biggest thing was I hesitated a lot until y…”