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Kyle Lovett

๐Ÿ‘ค Speaker
141 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

Oh, okay.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

There was probably a five-year stretch of time where it was doing over a million in ARR under the Keep umbrella.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

Then they put the product on the shelf and a bunch of the users started jumping ship.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

And so it fizzled out over time before we ended up buying it back.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

So that was where they made their biggest impact.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

It was a good deal for them to have purchased the product just strictly from a revenue and cash flow standpoint.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

Probably, yeah, probably 2015 would be my guess.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

Well, I mean, a lot of that was just sweat equity because my brother's a software engineer.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

I have a software design and product management background.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

And so, you know, we did a majority of the work ourselves in rewriting software.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

But, you know, it took us...

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

over a year so when you consider the going rate of software engineering software design product managers and such uh you know we we probably spent between 500 000 million dollars to to rebuild the platform so 43 grand today in revenue a month uh 550 customers which means the average pays about a thousand dollars per year um is the company how many people are on the team today

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

We just have four full-time, a couple of contractors, and we have a plan to hire about seven people over the next six months.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

We're shooting for a $10 million valuation.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

So we think with the right growth numbers and stuff, we can get there.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

I think if we're around 50K in MRR with nice growth numbers, I think we'll be able to get that just based off of what we're seeing in the industry, which is obviously white hot right now.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

Yeah.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

Our churn is sub two and a half right now.

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

Monthly?

SaaS Interviews with CEOs, Startups, Founders
Keap Acquired CustomerHub For $1-2m in 2011, Founders Bought Back in 2018, Now $500k in ARR

Yep.