Deck December 2013
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Transcript of Deck December 2013
![Page 1: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/1.jpg)
Small ImprovementsDecember 2013
![Page 2: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/2.jpg)
Mission
• To build the best Employee Feedback system for SMB
• Starting in Tech and modern industries
• Become the standard solution across all industries over time
![Page 3: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/3.jpg)
About us
• Prototyping since 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
![Page 4: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/4.jpg)
230 customers so far
![Page 5: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/5.jpg)
Pricing structure
• $4 to $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.
![Page 6: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/6.jpg)
Crowded market!
• Large players: Oracle, ADP, SuccessFactors
• Work.com (ex Rypple, now Salesforce)
• Cornerstone On Demand (ex Sonar6)
• 7Geese
• Dozens of smaller competitors
![Page 7: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/7.jpg)
Our approach
• Strong focus 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
![Page 8: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/8.jpg)
Numbers
![Page 9: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/9.jpg)
Customers vs Revenue
0 $
75.000 $
150.000 $
225.000 $
300.000 $
0
75
150
225
300
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
![Page 10: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/10.jpg)
Monthly Recurring Revenue
!$#!!!!
!$10.000,00!!
!$20.000,00!!
!$30.000,00!!
!$40.000,00!!
!$50.000,00!!
!$60.000,00!!
!$70.000,00!!
!$80.000,00!!
0!
50!
100!
150!
200!
250!
300!
01.10.11!
01.11.11!
01.12.11!
01.01.12!
01.02.12!
01.03.12!
01.04.12!
01.05.12!
01.06.12!
01.07.12!
01.08.12!
01.09.12!
01.10.12!
01.11.12!
01.12.12!
01.01.13!
01.02.13!
01.03.13!
01.04.13!
01.05.13!
01.06.13!
01.07.13!
01.08.13!
01.09.13!
01.10.13!
01.11.13!
01.12.13!
Total!paying!customers! MRR!!
![Page 11: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/11.jpg)
Average monthly revenue per customer
0"
50"
100"
150"
200"
250"
300"
01.10.11"
01.11.11"
01.12.11"
01.01.12"
01.02.12"
01.03.12"
01.04.12"
01.05.12"
01.06.12"
01.07.12"
01.08.12"
01.09.12"
01.10.12"
01.11.12"
01.12.12"
01.01.13"
01.02.13"
01.03.13"
01.04.13"
01.05.13"
01.06.13"
01.07.13"
01.08.13"
01.09.13"
01.10.13"
01.11.13"
01.12.13"
"$.""""
"$50,00""
"$100,00""
"$150,00""
"$200,00""
"$250,00""
"$300,00""
"$350,00""
ARPU" Total"paying"customers"
![Page 12: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/12.jpg)
500-1000 147.000 $
199-499 178.000 $
100-199 220.000 $
50-99 160.000 $
25-49 108.000 $
10-24 60.000 $
2013 Revenue by company size
![Page 13: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/13.jpg)
Expenses 2013
Careful, this is in Euro! Bump in December due to late freelancer invoices for Q4 2013
In total we made roughly $875k and spent roughly $650k
![Page 14: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/14.jpg)
The Future
![Page 15: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/15.jpg)
Midterm roadmap
• Ratings in 360s
• Multiple reviewers in PRs
• OKRs and cascading objectives
• Skills tagging like LinkedIn
• The best staff directory in the world
• Overhaul messaging feature
![Page 16: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/16.jpg)
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
![Page 17: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/17.jpg)
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”
![Page 18: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/18.jpg)
Revenue forecast
Assumptions:
• negative revenue churn
• “network effect” and more testimonials
• much better product in general
• more features that evaluators were missing
• improved pre-sales, post-sales and marketing
![Page 19: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/19.jpg)
Forecast 2014-2016
0
600.000
1.200.000
1.800.000
2.400.000
3.000.000
Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2015 Q3 2015 Q1 2016 Q3 2016
2013 $870k
2014 $2.16m
2015 $4.32m
2016 $7.34m
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!)
![Page 20: Deck December 2013](https://reader034.fdocuments.in/reader034/viewer/2022052621/557c2290d8b42a22218b50af/html5/thumbnails/20.jpg)
Recruiting roadmap
Q4 2013 Q1 2014 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
Customer Success 2,5 3 3 3 3
Inside Sales 1 1 2
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!