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Kevin Zicherman

๐Ÿ‘ค Speaker
261 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

We have Airbnbs running this.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

When they have people staying at their locations, you've got to understand who your guests are, not only from a compliance standpoint and contact tracing, but also I want to build a list of tourists.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

I don't want you to limit the potential of our product with restaurants.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

So any auto shops, anywhere like car dealers right now, like if somebody walks into a car dealership, you kind of still have to do that to buy a car.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

And while you're there, you want to be able to generate data anywhere that there's a brick and mortar location.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

So I think I 100% agree with you.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

The last five months has been online only.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

But now that things open up again and that people are out and visiting physical locations, that is now hyper important.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

And if that's not important for the business, then you just close down shop and go online only.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

But there's a lot of experiences that you need to be there to live the product.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

We're on the customer break even.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

We're spending a little bit more money now to invest in our development and infrastructure.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

We've had about four different takeout offers during COVID as well, I should mention.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

So not with the valuations I want to be because the multiple in revenue is not where I want it to be.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

What was the best multiple you got?

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

I got seven and a half.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

I think it was a good valuation, but my revenue was not where I want it to be.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

And we're doing all that revenue.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

We're doing about 700 now on the hit with no sales team.

SaaS Interviews with CEOs, Startups, Founders
MyWifiNetworks Turned Down $5.4m All Cash Offer Last Month, Despite Loosing 30% Due to COVID

So I want to build a sales team.