The Ledger
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Kit's SMS product launched in 2015 and became 100% of its business
“And we launched that in January of 2015, the SMS component, which is now basically a hundred percent of our business.”
Kit averages 4% monthly customer churn across its marketplace partners
“Well, I think that, you know, right now what we see is that we average pretty consistently a four percent churn within our marketplace partners.”
Kit surpassed $30,000 in monthly recurring revenue in January 2016
“January, we just cleared over 30 KMR.”
Kit's net monthly cash burn ranges from $30,000 to $40,000
“Well, our net cash per monthly right now on any given month can be anywhere from 30 to 40 K.”
Kit CRM's SMS component now makes up 100% of its business
“And we launched that in January of 2015, the SMS component, which is now basically a hundred percent of our business.”
Kit CRM reached approximately 2,000 paying customers by January 2016
“We have about 2000 paying customers.”
Kit CRM's average revenue per user approaches $19 per month
“We're just kind of approaching 19 dollars.”
Kit CRM consistently averages a 4% monthly customer churn rate
“Well, I think that, you know, right now what we see is that we average pretty consistently a four percent churn within our marketplace partners.”
Kit CRM's customer acquisition cost is approximately $21
“Our cost per acquisition is about 21 dollars.”
Kit CRM managed $80K in November ad spend, dropping to $40K
“It was about 80,000 dollars in ad spend. In November. And then we're basically in both December and January. So about 40,000. So it cut in half.”
Missing $150K to $200K MRR by year-end would mean failure
“It's like, can we get to that 150 K MRR, right? Like I think that one 50 to 200 K MRR, if we don't satisfy that, the years of failure, we very much look at I think when you look at great sports teams, right? It's like championship or bust, right? Like second p…”
Kit CRM cleared $30,000 in monthly recurring revenue in January 2016
“January, we just cleared over 30 KMR.”
Kit CRM's net cash burn is between $30K and $40K monthly
“Well, our net cash burn monthly right now on any given month can be anywhere from 30 to 40 K. Just depending on variable marketing costs and things.”
Kit won Facebook's Innovative Partner of the Year award in 2015
“So we're a Facebook marketing partner. We just got innovative partner of the year in 2015.”