The Ledger
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Verdigris treats its hardware as a loss leader for SaaS revenue
“We don't make money on the hardware.”
Chung argues hardware-enabled SaaS products have significantly lower customer churn
“Well, the beauty of what we do is because we have a hardware component that enables the SAS, it becomes a very sticky SAS-like product. So while there is a loss leader or basically a static component that's kind of a wash that enables a much, you can think of …”
Jabil claims Verdigris reduced its operational costs by 50 percent
“And in fact, they've come out and said that we've saved about 50% of their operational costs through using our solution.”
Verdigris plans a residential product under $10 per month via utilities
“We do intend to roll out a plan probably in partnership with the utility in the next few years that would allow us to Put this in people's homes for, you know, hopefully under 10 dollars a month or something at an acceptable cost.”
Verdigris targets enterprise customers spending at least $10,000 monthly on electricity
“General rule of thumb is that we look for people who've spent, spend about 10,000 dollars a month on electricity.”
Verizon leverages 900 enterprise sales reps to pitch Verdigris IoT solutions
“So Verizon, because we are a Verizon preferred partner they have a sales team of about 900 people that are out in the field talking to their Fortune 500, Fortune 2000 customers selling ranges of IOT solutions from video surveillance to telematics to energy man…”