The Ledger
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Bak: TabSuite's $20M exit included $5M to $6M cash, plus equity
“So we, what I was saying is like, because we spent like roughly 500 to, you know, north of 500 K on physical like payments to either vendors, subscriptions, those actual capitalized costs the cash portion of the deal, you know, was roughly like the 10 to 12% r…”
Bak: The reported $20.8M valuation was an MOU price, later adjusted
“Well, that was, yeah, the initial price, the final price got you know, that was the MOU pricing, but then we adjusted slightly to reach like terms more favorable to both parties.”
Bak: TabSuite SaaS pricing ranged from $500 monthly to over $75k annually
“It was a SAS model ranged anywhere from 500 bucks a month, all the way up to sometimes 75 K a year or more.”
Bak: TabSuite pivoted to enterprise B2B after direct-to-founder sales failed
“And then we tried actually opening it up to founders. That didn't work well, so we went back to B to B and then we went ultra high, like B to B to E, I would say, or B to E to B, enterprise to business.”
Bak built TabSuite as an EIR with $500K from an investment fund
“I was the entrepreneur in residence for a fund. And then I essentially built the product under them using 500 K from them.”
Bak: TabSuite served angel investors, VCs, SBA lenders, and government organizations
“We had everything from everyone from angel investors, single angel investors, all the way up to angel funds, all the way up to micro VCs, big VCs. We even had SBA lenders, government organizations”
Bak: Early TabSuite customer paid $1,000 via check at a restaurant
“It was one of the first customers was a thousand dollars processed
As a check handed over a restaurant table.”
Bak claims TabSuite's AI generated over 1 million lines of code
“I would say that we had over one million lines of iterated code written by the ML and AI system.”
Bak: TabSuite Consulting Revenue Reached $30K-$50K per Ticket
“The consulting revenue became almost 30 to 50,000 dollars per ticket from there.”