SaaS Interviews with CEOs, Startups, Founders
811: Crypto: After $2m ICO, He's Building the Bloomberg Terminal for Crypto
13 Oct 2017
Chapter 1: What is the main topic discussed in this episode?
Founder of Santiment.net. They did their ICO around July 1st, 2nd, 3rd, 4th, 5th, raised $2 million.
Chapter 2: What is Santiment and what problem does it solve?
That was after they did their pre-sale where they raised about $150,000.
Chapter 3: How did Santiment establish its ICO and what were the results?
That was back when Ether was only at $11 price point. Again, in their ICO, sort of about 45,000 tokens. They have about 80 million issued, 60 million outstanding. They're saving the rest to issue later on for various purposes. Again, they make money or they're going to make money two separate ways.
One is via SaaS monthly subscriptions, or they're going to let people pay with crypto and be incentivized via crypto and their token. They're really helping and trying to build the information layer, the Bloomberg of cryptocurrencies with their eight full-time employees.
Chapter 4: What are the revenue models for Santiment?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination. We just broke our 100,000-unit soul mark.
And I'm your host, Nathan Latka.
Chapter 5: What is the significance of the SAN token in Santiment's ecosystem?
Many of you listening right now don't have time to listen to every B2B SaaS CEO that I've interviewed. If you want to get access to the database I've created with year-over-year growth rates, customer accounts, margins, and many, many other data metrics and data points, you can go to getlatka.com. Here's the thing, though. This database... I keep it to myself. It's so freaking valuable.
And to preserve the quality of the data and make sure that the people that have access to it have a true advantage, I'm only letting 10 companies on each month. So we're full this month, but you can go to getlatka.com to get on the waiting list for next month. And look, there's big people on the waiting list.
Chapter 6: What challenges does Santiment face before charging for services?
I mean, the biggest VCs you've ever heard of. You've probably heard of them. They're big, private equity, billions and billions under management. So it's an impressive waiting list. Go get on now at getlatka.com. Hello, everyone. My guest today is Maxim Belascovich, and he is a former IBM software engineer and co-founder of a successful hosting business in Belarus.
He now manages the overall product and leads the sentiment team, which will obviously jump in today. He's a veteran leader, having spent more than a decade trading successfully using sentiment and Elliott Waves as analysis. He's also rooted in yoga and meditation.
Chapter 7: How does Santiment plan to compete in the cryptocurrency information space?
Good head on his shoulders. Maxim, are you ready to take us to the top?
Yeah, let's go. Good.
Okay. Tell us what sentiment does and, uh, and what's the business model. How does it generate revenue for you guys?
um so what basically sentiment is doing we are building the information layer for emerging uh cryptocurrency token economy we have it already established in a normal economy this is mainly business of bloomberg and reuters and some other players so whenever you want to know anything about apple or other company you go there and you get all information you need
you go where like you're talking you're saying you're built you're building the bloomberg for cryptocurrencies correct got it yeah and so how does this i mean this is different than coinbase you're not an exchange correct no no no it's by no means no exchange we do not provide any exchange services okay just information layer got it and so how do people pay you
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Chapter 8: What recent security issues have impacted the cryptocurrency market?
This is where the interesting crypto currency, crypto market innovations are coming into play. When we've done our ICO, our crowd sale, we establish a token for our platform. Now, in order to get access to information we're generating and packaging for you or visualizing, you have basically two means of paying us. One way, normal way, you can buy our services through monthly subscriptions.
like normal paying in dollars or euros or whenever you are. And the second way, you can stake, kind of lock or deposit your digital tokens. And as long as it's staked, depending on the amount you stake, you can get access to information which is gathered in our system. So we have like two payment models.
Got it. So on the monthly subscription model, what is the average person paying you?
Oh, well, let's see. We are just building the system, so we do not sell the data yet.
Okay, so there's no revenue on the SaaS side. No, not yet. When you did the token issuance, first off, when was that and how much did you raise?
Yeah, exactly. It was just, let's say, today in 25. Yeah, it was a little bit more than...
two weeks ago and we raised at that time and that time it was around 12 million okay so call it like july fifth time frame yeah yeah it was we will start at crowdsale on the first of july one day for our own communities and one day for other commissions and it was over so at that time yeah it was 45 000 ethereum and what was your sorry you sold 45 000 ethereum tokens Correct.
Okay. Or Ether, I guess, right? Right. And then you said you issued your own token? Correct. What was it called? What's the token called?
The token name is SAN, S-A-N.
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