The Ledger
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Estevez: Gus targets enterprise clients exclusively, unlike Drift
“We're a way more enterprise solution. So, so we actually work with a band, we do all the user experience consulting and then we create an enterprise solution that's implemented. It's way more robust, robust versus drift, which is just kind of like a few questi…”
Estevez: Gus is targeting a $20M post-money valuation for Series A
“We're hoping to push for twenty million dollars post money.”
Estevez: Gus expects to reach $7M to $10M ARR after Series A
“We expect to reach seven to ten million dollars on any recurring revenue with this round.”
Estevez: Gus Maintains 125% Net Revenue Retention Rate
“So we have 125% net revenue retention rate.”
Estevez: Gus automates 80% to 96% of customer service requests
“Where we're basically automating anywhere between 80 to 96 in our most successful case of the customer service requests that a company gets.”
Estevez: Gus should reach break-even within two to three months
“We should be reaching break even sometime in the next two to three months, so.”
HolaGus aims to close 85 total clients by the end of 2017
“We hope to close 85 total clients by the end of the year. That's obviously like the best case scenario. Like that's what would be like an amazing situation.”
Spanish conversational AI generalizes well across industries due to standard grammar
“The reason we only focus on Spanish is because it's complex. It's pretty standard. So even if I get asked about pineapples in a thousand different ways, there isn't that many more ways that I could be like, hey, how many pounds of pineapple in this? So, so the…”
HolaGus avoids massive retailers like Walmart to focus on niche businesses
“Walmart would be a terrible customer for us because they have a million, like a million products. But if we start looking at businesses that are kind of niche, so for example, like let's just say insurance, or I gave the example order earlier, ordering a pizza…”
Estevez: Gus Chat generates an average of $7,500 per customer monthly
“Just take into account our general average would be seven, 7500 dollars a month.”
Estevez: Gus Chat reaches between $100K and $120K in MRR
“No, we're doing around between a hundred and a 120.”
Estevez: Gus operates with an 85% gross margin
“We have an 85% margin, so, so in theory, and we've just started exploring this, so”
Estevez: Gus Employs 12 Engineers Plus Four Partnered PhDs in Mexico
“Right now we have 12 engineers, but we have an interesting contract with a research lab in Mexico City which has an additional four PhDs, and the reason it's interesting is because they developed tech for us. We co-authored the patent to exploit it liquidly.”
Estevez: Gus reduced customer acquisition cost from $22K to $14K
“A lot of the focus for this year, we were way more focused on what's our cost of acquisition. We bought down from 22,000 dollars to 14,000 dollars.”
Estevez: Gus is burning roughly $10K per month
“Yeah, we're burning very little, but like roughly 10,000 dollars a month.”
Estevez: Gus has $80K-$90K in bank with 8 to 9 months runway
“Yeah, we have like 80, 90,000 dollars in the back, so we have eight or nine months.”
Estevez: Gus Churned $3,000 Out of $80,000 in Monthly Recurring Revenue
“Those three customers were paying roughly like 3000 dollars a month out of like an 80,000 dollar. So, I mean, you know, so 3000 out of 80,000 dollars MR.”
Estevez: Gus Enterprise Accounts Expanded From $1k-$3k to $10k-$12k Monthly
“We focused in the last year on just acquiring enterprise brands, and within enterprise brands, we must roughly have today signed, like, around 13, 14 customers, of which since we last spoke, we maybe had three or four, and those three or four that we last spok…”
Estevez: Gus reaches roughly $50,000 in monthly revenue
“So right now we're at roughly 50 K USD a month.”
Estevez: Gus had 100% renewal rate across its first six enterprise clients
“Right now our first six companies had to renew and they all renewed which is obviously a good sign, but I wouldn't get too excited about it.”
Estevez: Gus would only consider acquisition offers above $3.5M
“Anything above three and a half, I guess.”
HolaGus charges 1 to 2 Mexican pesos per assisted conversation
“It goes anywhere between one to two Mexican pesos per assisted conversation.”
HolaGus initially charged a $20K to $50K upfront development fee
“When we went out to close these three customers, we actually closed them on a different revenue model where they would pay us a development fee upfront. Just to give you an idea, the development fee was between 20 and 50,000 dollars. And then they pay a very s…”
HolaGus requires a $750 to $1,500 monthly minimum enterprise consumption floor
“We try to charge a minimum of monthly consumption. So, So like independently, if you have 10,000 chats in a month, we ask the customer to at least give us between 15,000 to 30,000 Mexican pesos. And just so you understand what that's in dollars between 750 and…”
Estevez: Gus has roughly 35 customers, targeting 40
“Right now we're roughly around 35 customers maybe hitting 40 by the end of this month.”
$3,000 monthly marketing spend yields 200 leads and 1-2 new customers
“So that's bringing in around I think 202 hundred, yeah, 200 inbound leads, which basically is coming in at one or two customers.”