The Ledger
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Abbott: 90 pays 10% of revenue to license EOS trademark terms
“Yeah, so we just pay a license fee to EOS to use the terms, so we pay 10% of our revenues to EOS to be able to use their trademark terms in our software.”
Over 13,000 companies and hundreds of thousands of users run on Ninety
“We have 13,300 companies now running, running on 90, and, you know, several 100,000 people in those companies.”
Mark Abbott avoids venture capital to protect founder time and maintain control
“There's a lot of time needs to go into if you want to go raise equity. And right now we're, you know, we're running nine, eight, a 120 miles per hour, just doing what we need to do. And so as far as you know, just allocating my scarce time, that's not somethin…”
Ninety pays Exit Planning Institute a 10% to 20% revenue share
“And with regard to EPI, we do have a revenue share. It's between 10 and 20%.”
Mark Abbott: 90 had $4M ARR when raising its summer 2021 round
“So we raised money last summer, and at that point in time our ARR was around four Around four million.”
Abbott: Retained 80% ownership in 90 prior to Insight Partners round
“Yeah, so I was at 80% up until Insight came in.”
Ninety.io charges tiered pricing from $12 down to $3 per seat
“So the basic way it works is we charge on a per seat basis. So it starts at 12 dollars. And then as the companies put more and more seats on the system, the price declines all the way down to three bucks if they have hundreds of people using, subscribing to th…”
Abbott: Ninety.io is in talks to raise $2M in debt
“We're talking to several groups right now, about a couple million.”
Mark Abbott: FarmRaiser runs zero-upfront presales at ~50% wholesale margins
“No money changes hand up front. It's all a presale. So if it says suggested retail, 28 dollars, they're going to buy it for about 14 dollars. And so they're going to, so they're, their wholesale cost is about 50% of retail in general.”
Mark Abbott: FarmRaiser charges suppliers unit fees and takes 5-10% of retail
“We do, we have, we take out from both sides of the platform. We take a little bit from the supplier. So by adding on a small fee to each unit sold, not dissimilar to what Airbnb does. And then on the backside, we take five to 10% of the retail price.”
FarmRaiser charges fundraising companies $500 to $1,500 annually
“It's between 515 hundred dollars for every fundraising company that signs up on the platform.”
FarmRaiser has 30 B2B clients, adding 2-3 monthly
“So we've got about 30 of those companies on the platform and we add two or three a month right now.”