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Deck December 2013
- The document summarizes an employee feedback startup that has grown to 230 customers and $283k in revenue in Q4 2013. It outlines the company's mission, 12-person team across 4 time zones, pricing structure, approach to the crowded market, and financial performance including steady growth in customers and revenue since 2011. - The company plans a midterm roadmap to improve product features like 360 reviews and skills tagging. It forecasts continued self-funded growth, with revenue projected to reach $2.16M in 2014, $4.32M in 2015, and $7.34M in 2016, and an increasing team size from 10.5 people currently to 20 people by end of 2014.
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Deck December 2013
- 1.
- 2. Mission • To buildthe best Employee Feedback system for SMB • Starting in Tech and modern industries • Become the standard solution across all industries over time
- 3. About us • Prototypingsince 2010 • Founded in March 2011 • 12 People in 4 time zones • Development HQ in Berlin • Customer success in Sydney, SF, NYC • More about us online
- 4.
- 5. Pricing structure • $4to $6 per employee per month • 90% of clients use “pay 10 months, get 12” • No contract, quit anytime, get money back • ~10% “customer count churn” per year • negative revenue churn: Many of our clients grow 20% to 50% per year anyway.
- 6. Crowded market! • Largeplayers: Oracle, ADP, SuccessFactors • Work.com (ex Rypple, now Salesforce) • Cornerstone On Demand (ex Sonar6) • 7Geese • Dozens of smaller competitors
- 7. Our approach • Strongfocus on usability and design • Do “the right thing” in customer service • Very strict hiring process • Focus on a few core problems to solve • Listen carefully, and iterate quickly • Internal transparency and communication
- 8.
- 9. Customers vs Revenue 300 300.000 $ 225 225.000 $ 150 150.000 $ 75 75.000 $ 0 0 $ Quarter Q3‘11 Q4 ‘11 Q1 ’12 Q2 ’12 Q3 ’12 Q4 ’12 Q1 ‘13 Q2 ’13 Q3’13 Q4’13 Revenue collected 7k 8k 22k 65k 40k 72k 140k 193k 257k 283k Active paying customers 2 7 19 32 50 73 111 145 195 230 ~90% of our customers pay for one year upfront We only track revenue that actually showed up in our bank account
- 10. 01 .1 0. 01 11! .1 1. 01 11! .1 2. 0111! .0 1. 01 12! .0 2. 01 12! .0 3. 01 12! .0 4. 01 12! .0 5. 01 12! .0 6. 01 12! .0 7. 01 12! .0 8. 01 12! .0 9. 01 12! .1 0. 01 12! .1 1. 01 12! .1 2. 01 12! .0 1. 01 13! .0 2. 01 13! .0 3. 01 13! .0 4. 01 13! .0 5. 01 13! .0 6. 01 13! .0 7. 01 13! .0 8. 01 13! .0 9. 01 13! .1 0. 01 13! .1 1. 01 13! .1 2. 13 ! Monthly Recurring Revenue 300! !$80.000,00!! !$70.000,00!! 250! !$60.000,00!! 200! !$50.000,00!! 150! !$40.000,00!! !$30.000,00!! 100! !$20.000,00!! 50! !$10.000,00!! 0! !$#!!!! Total!paying!customers! MRR!!
- 11. 01 .1 0. 01 11" .1 1. 01 11" .1 2. 0111" .0 1. 01 12" .0 2. 01 12" .0 3. 01 12" .0 4. 01 12" .0 5. 01 12" .0 6. 01 12" .0 7. 01 12" .0 8. 01 12" .0 9. 01 12" .1 0. 01 12" .1 1. 01 12" .1 2. 01 12" .0 1. 01 13" .0 2. 01 13" .0 3. 01 13" .0 4. 01 13" .0 5. 01 13" .0 6. 01 13" .0 7. 01 13" .0 8. 01 13" .0 9. 01 13" .1 0. 01 13" .1 1. 01 13" .1 2. 13 " Average monthly revenue per customer 300" "$350,00"" 250" "$300,00"" "$250,00"" 200" "$200,00"" 150" "$150,00"" 100" "$100,00"" 50" "$50,00"" 0" "$."""" ARPU" Total"paying"customers"
- 12. 2013 Revenue bycompany size 500-1000 147.000 $ 10-24 60.000 $ 25-49 108.000 $ 199-499 178.000 $ 50-99 160.000 $ 100-199 220.000 $
- 13. Expenses 2013 Careful, thisis in Euro! Bump in December due to late freelancer invoices for Q4 2013 In total we made roughly $875k and spent roughly $650k
- 14.
- 15. Midterm roadmap • Ratingsin 360s • Multiple reviewers in PRs • OKRs and cascading objectives • Skills tagging like LinkedIn • The best staff directory in the world • Overhaul messaging feature
- 16. Midterm roadmap 2 •Integrations with Yammer, Workday, Salesforce, etc to include work results into reviews easily • User provisioning with Okta, CA, OneLogin, Centrify, AppGuru, etc • Browser-plugin, mobile version (stickyness), Single-Page App + REST • Make product even more configurable and user friendly
- 17. Never say never,but.. • We’re after the mass market, not after few big corporates • No plans to add ATS, Payroll, Onboarding or Survey features. • We integrate with market leaders rather than build “me-too features”
- 18. Revenue forecast Assumptions: • negativerevenue churn • “network effect” and more testimonials • much better product in general • more features that evaluators were missing • improved pre-sales, post-sales and marketing
- 19. Forecast 2014-2016 3.000.000 2.400.000 1.800.000 1.200.000 600.000 0 Q1 2013 Q32013 Q1 2014 Q3 2014 Self-funded growth plan! Assuming annual growth factor of 2.5 in 2014, 2.0 in 2015 and 1.75 in 2016 (growth factor in 2013 was 4!) Q1 2015 Q3 2015 Q1 2016 Q3 2016 2013 $870k 2014 $2.16m 2015 $4.32m 2016 $7.34m
- 20. Recruiting roadmap Q4 2013 Q12014 Q2 2014 Q3 2014 Q4 2014 Front-end Dev 3,5 4 5 5 6 Back-end Dev 3 4 4 5 6 Marketing 1 1 2 2 2 2,5 3 3 3 3 1 1 2 Customer Success Inside Sales Office Manager 0,5 0,5 1 1 1 Total 10,5 12,5 16 17 20 All targets end of quarter. Development in Berlin, everyone else in US & Australia Self-funded growth plan!