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Sam Eitzen

๐Ÿ‘ค Speaker
180 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

Revenue dropped off a cliff.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

But if we did, yeah, 70% Keeper City smiling and 30% virtual photo booth.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

It's a new piece of technology.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

A lot of people don't even understand what it is.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

but it's basically like a browser-based photo booth that is a fun add-on to virtual events that at times can be boring.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

Floodgates open up.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

We noticed the first massive hit to our company when South by canceled South by Southwest.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

They were, we were activating there at a bunch of different events and sub events and

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

And that was a pretty big blow.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

After that, yeah, mid-March, the floodgates opened.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

I think we lost about three to six months of potentially earned income overnight.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

And sales since then have continued to be just absolutely dead.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

And not only that, but we had refunds to give.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

We...

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

take deposits.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

If we don't do any work for your event and it's further than 30 days out, you are owed your money back.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

So we bled hundreds of thousand dollars in the, when that first started happening.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

Which is why we had such a significant and kind of like aggressive pivot outside of the events industry.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

We were so pessimistic about when they might come back that we felt if we didn't do something that could earn cash fast, we would have to lay off our entire team.

SaaS Interviews with CEOs, Startups, Founders
SnapBar Looses $3m Photobooth Revenue COVID, Pivots in 8 Days, Makes $500k on New Idea, How?

And e-commerce was kind of our guess that that might work.