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 12 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
Schumacher: Well-managed SaaS companies almost never go bankrupt without excessive VC funding
“If you manage the SaaS well, it's almost impossible to get into bankruptcy. It usually only happens if there's a VC pouring too much money. Founders go crazy. The environment tanks.”
Schumacher: SaaS Group halved DashThis's ad budget while doubling output
“One of the first things were we slashed their Google paid accounts in half. So we basically slashed the budget in half, but we doubled the output. So essentially we forex the lead gen just on that Google, Google paid account.”
Schumacher: SaaS Group funds deals from balance sheet, currently 100% debt
“We have tons of cash. We're just doing every deals, doing deals all hundred percent debt. So we're not, because we're not putting things into SPVs or special purpose vehicle. We're not a PE company. We're really just always, always investing from our own balan…”
SaaS Group acquired Crosscall and Zenloop out of European bankruptcies
“Cross Talon out of French bankruptcy and Zen Lube out of German bankruptcy.”
Schumacher: SaaS Group buys most companies at 2x to 4x ARR
“Eight on nine X is very rare. I think we did this one on a very small deal, which had strategic importance. And it was growing very fast, but usually, yeah, two to four is pretty accurate. There's some a little lower than that. There's some a little higher, bu…”
Schumacher: SaaS Group always acquires 100% of companies
“We don't, we always do a hundred percent. So we are not, that's the core difference. Like if you would get, go to a private equity company, they would take a significant minority or a majority. And then they would flip the company three years later after they'…”
Schumacher: SaaS Group's first two acquisitions were 100% self-funded
“The initial two acquisitions were a hundred percent my own cash.”
SaaS Group raised its first $25M external equity round in 2024
“We did do an equity round earlier this year where we got a bunch of external funding. That was actually first, first external equity Round we did.”
Schumacher: SaaS Group is an evergreen company modeled on Constellation Software
“We're not a fund. We're a company. Our big our big role model is Constellation Software in in Canada, public company. We're just a company like any other company in Evergreen.”
Schumacher: SaaS Group strives for 20% to 30% profit margins
“We always strive for profit margins somewhere. 20 to 30%.”