The Ledger
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TakeTask built a COVID quarantine app for 9 million Polish citizens
“Our biggest actually client is the Polish government. This is a funny story. It's a, We deployed a COVID monitoring home quarantine monitoring application. So there are like nine million user accounts up to date.”
Charging clients for custom features validates demand and funds development
“So it's a good way to check if the feature is, is, is important for the client, but also it gives you funds to found a feature.”
TakeTask has a global contract with Shell across four countries
“Now we have a global contract with Shell. We are implementing it in, in already in four countries.”
TakeTask averages 4,500 euros per month per customer
“The average deal is about four and a half thousand euros per month.”
TakeTask grew revenue from $100K in 2018 to $1.2M in 2020
“It was like a hundred K, something like this the total revenue. The next year we had 250. And last year we have 1.2 million.”
TakeTask expects to reach $2M in revenue by the end of 2021
“So we actually have the same revenue as we had last, the total last year. So we should end up with something like two million.”
TakeTask charges $5k to $70k for enterprise software implementations
“Like the minimum charge is about five to 7000 dollars but we have clients with bigger implementations that can be 50 or 70,000 dollars.”
TakeTask tests SMB SaaS product with eight retailers for year-end rollout
“So we should be ready with this till the end of the year. We are now testing it with eight small retailers.”
TakeTask targets $500K MRR within the next two years
“We need money for another one and a half, two years, you know, to get to a point of something like 500, K month recurring revenue.”
TakeTask will flip to the US and roll up its angel investors
“Once we plan to go to us with not this round, but the next round. So probably then we'll pack them to one entity and they will be as one entity in the cap table.”
TakeTask closed Poland's largest copper mining corporation in two months
“We just signed a deal with the biggest copper mining corporation in Poland. And it's one of the biggest in the world. And it took just us, like, I don't know, two months, you know, to sign the deal.”
TakeTask charges 8 to 22 euros per user per month
“Most of the clients get in the, you know, the advanced plan, which is the medium one, which is 15 euros per user per month. We have some clients with a lower plan, which is eight euros and some of them with the highest one, which is 22 years plus Azure cloud c…”
TakeTask has raised $1 million in total capital
“How much total capital have you raised today? A one million.”
TakeTask plans to target a $10M+ valuation for its next round
“We will probably go for something like 10 plus million with the next round.”
TakeTask plans to raise $2M to $3M in its next round
“We'll probably go for like two or three million.”
TakeTask co-founders expect to retain over 50% equity post-Series A
“Yeah, me and my founder and my co-founder, we own over 50%. So what we should end up after the A round, it would be slightly above 50%. So after the A round, we would Probably have like 52, 53, something like that.”
TakeTask carved an 8% ESOP pool from the founders' 70% stake
“No, it's like in total, it's something like eight percent... So this, you know, the ESOP is together with, you know, in the 70%.”
Sarzynski: TakeTask cap table has a 5% Polish VC and ~80 crowdfunding angels
“We have one, a Polish small seed VC Owning something like five percent. And then the rest of it is owned by different angel investors, because with this crowdfunding, we had over 100 people. Now it went down to something like 80”