The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 30 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Facebook drives bulk of Grow.com's paid acquisition due to lower costs
“Facebook has always done really well for us. You know, it doesn't perform as well as like Google, but you know, it's a lot less expensive. But still the bulk of what we do comes from Facebook.”
Nelson predicts the business intelligence market will undergo future consolidation
“I think that the market, our space will go through a consolidation, but we're not there yet.”
Nelson: Grow.com aims to become the HubSpot of business intelligence
“We feel like we can own and dominate this SMB space in BI. What we're looking to do is become the hub spot of BI. You know, and really own and dominate that area.”
Dedicated onboarding teams differentiate Grow.com from Klipfolio in SMB market
“I think one of the things that sets us apart from Clipfolio is you know, BI is complex especially I think for SMBs without IT departments. Without a lot of technical resources. And so we have a whole onboarding team, a whole client success team. It's been, I t…”
Nelson: Existing BI tools fail SMBs on cost or capability
“I tried several to try and solve the problem, and they were either insanely expensive, really complex to manage, or they were too simple and just didn't, like, give us what we needed. It was things like our latest tweets and, you know, Facebook likes. It wasn'…”
Nelson: First-time founders should bootstrap to learn without rapid scaling pressure
“I'm a huge fan of bootstrapping on the first venture. I mean, you kind of you kind of go at your own pace. There's, there is no pressure to, you know, scale to a hundred million really quick. I mean you're learning and making mistakes and it's okay.”
Nelson: Building a large self-serve SaaS at low ARPU is insanely hard
“When I launched, that's, you know, it was all self-serve. It was, you know, 29 bucks a month or 49 bucks a month, and it's just, it's insanely hard to build something large without, I mean, Dropbox has done it, but very few have.”
Nelson: High-touch onboarding is critical for complex BI products
“The other insight is the customers just need some help. You know BI is complex. Data is complex. And so to have a really good onboarding team that is fairly high touch in the beginning to help customers get immediate value and success out of the application is…”
Grow.com more than doubles customer base in 12 months
“We've more than doubled in the last 12 months.”
Grow.com averages $8,100 in annual contract value
“Average deal size ends up being about 8100 a year in ACV, annual contract value.”
Nelson: Grow.com has a 60/40 customer acquisition split between paid and organic
“I'd say we've got about a sixty-forty split between organic paid versus organic.”
Nelson: Grow.com spends $100k to $120k monthly on paid advertising
“We spend about a hundred, a 120 unpaid.”
Grow.com is wrapping up its Series B funding round
“No, we've we're just wrapping up the series B and we're coming out and doing a whole press release with that in about two to three weeks.”
Rob Nelson: Grow.com maintains about 2% monthly logo churn
“You know, we're about two percent. You know, I think healthy SMB churn. So yeah, that's what we've been targeting.”
Grow.com achieves a 6 to 7 month CAC payback period
“You know, we've got a payback period of about six to seven months.”
Nelson: Grow's top B2B users track the entire acquisition funnel
“What we're seeing our customers, our most successful customers track is all around the customer acquisition process, right? With, you know, and B in the B to B world, it's, you know, starting with ad spend leads generated sales opportunities and the conversion…”
Rob Nelson: Grow's ARPU is about $600 per month
“So our average you know, average, our ARPU is, is like, 600 dollars a month.”
Nelson: 76% of Grow trial customers convert to paid annual plans
“Yes, 75%.
That's pretty good.
Yeah, we feel good about that.
70, you know, 76% in the last 90 days
You know, renew from that trial period.”
Rob Nelson: 50% of Grow customers log in daily, 92% monthly
“And half of our customers log in every day.
And 90% of our customers, 92% of our customers log in you know, are logging in at least once a month.”
Grow.com expanded its team from 12 to about 70 people in 10 months
“We have about 70 right now, and in January we were at 12.”
Nelson: Grow.com will surpass $350k MRR by December 2016
“Oh, yeah, I mean, we'll, we'll surpass that.”
Nelson: Grow.com employs 35 to 40 people on its sales team
“I mean, we've got around 40 on the sales team 35 to 40 on the sales team.”
Grow.com has just over 100 employees, including eight in London
“We've got about just over a hundred people. And this past year we opened an office in London. And so we have maybe eight people in London and they're cranking and exceeding targets and doing well.”
Nelson: Traeger CEO Jeremy Andrus sits on Grow's board
“I'm a big fan of Jeremy Andrus, CEO of Traeger. He's a consumer products guy, but knows branding, knows how to scale a business. And he's on our board.”