The Ledger
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Levitin argues raising a large VC round forces non-organic growth
“Raising a VC, a big VC round will not be healthy for us. It will put some pressure on the company, which will kind of push us into growing in a non-organical way, because we've built this very delicate balance between the team members and how we grow.”
Levitin tells founders to build SaaS because other models do not compound
“12 years ago, start with SaaS. Everything else does not compound.”
Levitin says Crazy Lister completely failed at Facebook paid acquisition
“We could not succeed with anything on Facebook, no matter how focused were we in our targeting.”
Levitin says cohort analysis shows highest-paying customers retain best
“And we understood, I mean, by studying the churn cohorts, we understood that the best customers by far are the highest paying customers.”
Agencies failed, but an in-house expert cracked paid acquisition ROI
“Until like six months ago, I was under the impression that it is not possible to have a positive ROI on on paid acquisition. Cause I've never seen it in, this is my first, second company and I've never seen it work. And we we've tried external agencies. We've …”
Scaling ad spend within the eBay seller niche will degrade CAC
“We are laser focused on making the lights of eBay seller much easier, but you know, there's an X amount of eBay sellers out there. So yeah, Even if you want to pour in more money, we will lose the focus in terms of conversion. I mean, our CAC will go up. So we…”
CrazyLister churn drops from 40% in month one to 2-3% monthly
“We lose about 40% after one month. That's what you call a, let's call it a paid trial. And then after that, we are at a pretty good churn of about two, three percent per month.”
Levitin: CrazyLister is growing month-over-month revenue by around 15%
“Oh no, we feel that we, with the with the rate that we grow, the month over month growth that we have around 15%, we feel that we already exceeded the valuation.”
Crazy Lister passes $1M ARR and $80K MRR
“So we have recently hit one million in ARR. So we are exceeding 80,000 in MRR.”
Crazy Lister reaches 3,500 paying customers
“So we've just passed at 3.5 thousand customers paying customers.”
Crazy Lister achieves a 1:8 CAC to LTV ratio
“And we've managed to get to this fantastic number where we get our CAC to LTV ratio is one to eight.”
Crazy Lister pays $80 in customer acquisition cost
“Oh, sure, a new customer, crazy list, it costs us 80 bucks.”
Crazy Lister is growing revenue at 15% month-over-month
“With our current growth rate, which is about 15% month over month.”
Crazy Lister will prove non-eBay traction before raising small round
“So what we decided to do is to first prove traction beyond eBay, and then raise raise not that big of a round from smaller investors to sustain this growth.”
Crazy Lister achieved positive cash flow in March 2017
“Yes, we've just hit cash flow positive actually last month in March.”
Crazy Lister scaled monthly paid acquisition spend to $15,000
“Actually, when we began, our budget for this was 5000 a month. And over the months when we became more and more confident about this job and the data brought in, So we raised it to seven, then to 10, and now it's 15.”
Crazy Lister sees 3% churn on premium plans versus 10% on basic
“So the chore for the forty-fivers is about three percent, and the chore for the private sellers, those that pay us nine dollars a month, is around 10% a month.”
CrazyLister hits $25,000 MRR and $40,000 total revenue in August 2016
“If you count the revenue, we did about 40 K in revenue in August. If you're talking about MRR, that's 25 K.”
Levitin: Creating new product listings is CrazyLister's primary retention metric
“The number one metric for us is for users to keep creating new product listings with crazy lister. So this is the one metric that we follow.”
CrazyLister targets a customer acquisition cost of $70 or below
“Well, we aim for anywhere around 70 dollars and below.”
Levitin: CrazyLister raised equity round at a $3.5M pre-money valuation
“We raised a 3.5 prem money.”
Levitin: CrazyLister will hit breakeven on existing funding
“We should be hitting break even with the investment that we've raised.”
Levitin: Operating in tech business without coding is like not speaking English
“Well, business life, I would teach myself how to code. I really feel like not knowing a language, not knowing how to speak English without coding.”
Levitin: CrazyLister subscription plans range from $9 to $45 monthly
“We have we have plans based on the number of listings or products you want to list with Crazy Lister, and it goes from nine bucks a month up to 45 bucks a month.”
CrazyLister CTO joined at 10,000 customers with an uneven equity split
“Well, because of the fact that Orr joined along when we already had like 10,000 customers, it's not an even split between the three of us, but I can say that we are all happy with our shares. He has, or has a significant share.”
CrazyLister reaches nearly 2,000 paying customers from 40,000 registered users
“We have nearly 2000 paying customers. Up till recently, we were a freemium, and we have a total of 40,000 registered users.”
CrazyLister generated around $30,000 in total revenue in 2015
“Total 20 15 was around, I'd say, 30,000 dollars.”
Over 30% of CrazyLister upgrades are annual subscriptions
“Yeah, a bit more than 30% of our upgrades are annual upgrades.”