BIAMI.IO Ltd. Revenue (2024)

[00:00] Hey, folks. My guest today is Mark Marcin Kerdelovich. He's the founder and CEO at biami dot I o, a company that delivers 10 x performance with AI and automation at scale. He's responsible for going in business and overlooking the 10 x strategy, go to markets, and partnerships. Over twenty five years, he's worked in software companies, helping with the business growth from 5 to $400,000,000 in ARR. He's also a dad of three, loves swimming, and playing tennis. Marcin, [00:23] you ready to take us to the top? [00:25] >> Yes. And, yeah, thanks for having me. [00:27] You bet. Okay. So it's it's it's Biami like me Miami with a b. And so what does in the description you say that what what you guys do is you 10 x your business, but what does that actually mean? What is the software? [00:39] >> That's right. So, you know, in in terms of the company name, it really depends on where you're based. Because on our side of the pond, it will be Biami, but yes, in The US, it's Biami. It's like Miami with the B. And yes, look, you know, what does 10x really means is, you know, we using our own technology, okay? We build solutions and we help our clients to get 10x performance improvement in three different areas. So [01:07] >> in value proposition, operations and growth. And then, you know, we recently added also, you know, a little bit of business consulting services like a strategy because a lot of companies like want to have a bit of like hand holding on how to actually do it. [01:23] So you need to Marcin, I don't wanna lose our I don't wanna lose our listeners. I'm gonna make it really real for them. Guys, what Marcin is doing is it's business process automation BPO space. Think of Zapier, but then think of MuleSoft, which is up market. Right? He's he's basically an enterprise version of Zapier and he can do much more custom stuff for larger enterprises. Marcin, is that accurate? [01:43] >> That's that's good for the ops. Yes. Correct. [01:47] There's a huge market for this though. Right? I mean, Zapier is like, you know, the kitty toy that anybody can use, but people want a lot of custom stuff built on top of it. Now just to be clear, you're allowing people to use software to do tasks, but you're also adding consulting services on top. Right? [02:02] >> More more think of it our consulting services is in strategy best practices and architecture. Don't do delivery on its own. When you know, it's usually a client, you know, when they start with us, they need like two or three people to actually do the build. Okay. Or if they don't have it, we're like, we bring the service partner to the conversation. [02:22] So you might do like the setup. You might charge a setup fee. [02:25] >> That's right. With no, we don't we actually don't do that. You know, we have we have we have things like think of it, a monthly subscription and we kick off always with with some sort of a workshops, but we have for [02:36] like a kind of But they're free. You don't charge for the setup? We we we don't charge for And what are customers paying on average per month to use the technology, the software? [02:45] >> You know, it's a so there's actually different ways of doing that. We do have an open source version. Okay. So we have a version that you can use for dev and test and run like build the process and run it as a like one single individual process and you don't pay for it. You just go at biami.io/download. You just get it. Right? And then How [03:10] many people have downloaded? How many people have downloaded the open source software? [03:13] >> You know, it's it's it's not a lot because we don't really advertise it a lot at the moment, but, you know, we have a good number of of downloads every week. But it's it's more like a [03:21] How many though? Like, ten ten fifteen? [03:23] >> No. Yeah. It's around dozen a week. Yes. [03:25] Okay. Okay. 10 downloads a week. Very cool. Okay. But you didn't answer my question. So when people are paying per month, what are they paying per month on average? [03:31] >> Yeah. So look, there's then there are two ways of doing that. Okay. There's what we call it like do it yourself. Okay. So you think of it, kind of set up a lab where you just get support from us and just help. So, you know, that pricing starts from like $900 per month. Okay. If you want our service with, you know, our kind of help, you know, and that architecture help and all of that, you know, [03:56] >> the minimum of what we sell would be $2,400 per month. [04:01] Oh, what's going on there, YouTube? Good to see you guys. Now imagine this, you love watching these interviews with SaaS founders, but imagine if we took all of the valuation data out from over 2,807 interviews I've done manually. Saves you a lot of time. Well, we've done this. We've built it into the beautiful interface inside of Founderpath. Check this out. I'll show you how you can access this in a second, but you log in, you connect [04:24] your Stripe account, you see your valuation real time. You can see what it changed over the past eighty eight days and even set goals for valuation this year. Now the secret evaluation is there's many different ways to value a SaaS business. So the reason you're gonna see three or four different valuations inside of your Founderpath dashboard, this is all free by the way, is because depending on who's doing the buying of your SaaS company, you're gonna [04:49] get a different valuation. A VC is gonna pay a different valuation, Private equity firm is different. If you're gonna do a minority sale, that's different. And if you sell the whole business, that's a different valuation. You can see all those when I hover over here. Right? So the teal is what a VC would pay. Yellow is what private equity And red is if you sold the whole thing outright. Now what's cool about this is this is [05:10] not built off random data. Again, you guys hear these interviews on YouTube. All these datas are built from real time valuation data points founder share with us on the show. So traction 1,200,000 seed round 3.7 raise. They sold 22% of their business. Go in here and filter by the event. Maybe you only wanna see companies that have sold the whole business. Well, here are a bunch that have been acquired the valuation and the multiple. Maybe you're [05:36] going out right now and you're raising your seed round. We'll go in here and look at all this recent seed deals that went down, what they raised, what valuation they raised at and what percent that they sold. There's never been a larger dataset of SaaS valuations than what you can get now inside of Founderpath. And we're thrilled to bring it to you. All right. We're gonna go back to the YouTube video here in a second. But [05:58] if you wanna check this tool out, if you wanna jump in and sign up, you can check it out for free to get your valuation at this link, this link, founderpath.com/products/valuations. Or if you go to founderpath.com and hover over products, click on get your valuation here, and go ahead and sign up to give it a whirl. Again, all that valuation data live right inside the platform. I hope to see you there. Alright. Let's jump back into [06:24] the interview. Okay. Got it. And so what would you say your revenue split is monthly right now, the percent between each of those? [06:32] >> Well, we only sell the other one. [06:36] >> So right. So so like if you know ourselves from from from a revenue perspective, you know, we have we have just individual installations on this, you know, do do it yourself because very often, you know, what's gonna be is you start with doing yourself, but you know, building automation at scale is not an easy task. So But, [06:54] Marcin, I'm sorry. I that's this is that was very confusing. You're only selling $900 per month plans or you also sell 2,400 a month? [07:00] >> We we as as as a business, we only sell 2,400. [07:04] Okay. So what is the $900 per month? [07:06] >> So it's like do it yourself. [07:08] But you don't sell any of those? [07:09] >> Sorry? [07:10] But you don't sell any of those? [07:12] >> None. Well well, we we don't sell as we don't actively go and pitch it to our clients. So you don't understand that question. [07:19] My question is though, okay, how many people are on that plan to do it yourself? [07:22] >> Just just, yeah, just the individual ones because we always [07:26] But how many? Like, are we talking like three customers there or like 30? [07:29] >> No. No. There's like three. Less than 10. Yes. [07:32] Less than 10. Less than 10. Okay. So your main focus then is the help, the $2,400 per month. [07:37] >> That's right. That's that's that's that's what we do as a business. Yes. [07:41] I see. Okay. That makes sense. Now how many customers do you have on that plan? [07:45] >> That's a very good question, but you know, we're kind of [07:50] >> we were Or [07:51] a range a range is fine. [07:52] >> Yeah. Yeah. A range is fine. So, you know, we we have we we didn't we didn't reach the the 100 yet. Okay. We're on the way on the path to get to a 100. [08:05] A 100 customers on that plan. [08:06] >> Yes. Yes. Very, very, very soon. [08:09] So you more more is it fair to say more than 50 customers on that plan, but less than a 100? [08:13] >> It it it is. It is. We we passed 50. Yes. [08:15] That's amazing. That's amazing. [08:16] Okay. So so, I mean, I can take 50 customers at $2,400 a pop. You guys are doing more than a $100,000 a month right now in revenue. [08:22] >> Yeah. That's yes. That's accurate. [08:25] Okay. And are you guys bootstrapped or have you decided to raise capital? [08:29] >> At the moment, are bootstrapped. Yes. [08:31] Oh, I love I love that. Okay. I love a good bootstrapper. So take me back to the origin story then. How did you launch this and get enough cash to build the MVP without having to raise capital? [08:40] >> Yeah. Yeah. So it wasn't a quick journey. Okay. Like a lot of people have those quick journeys. You know, our one was a little bit longer. So think of it. We kicked off the business like two years ago, but after like five years of actually building it on the side. [08:54] Okay. So you started building in 2015? [08:57] >> Yeah. 2015, 2016, something. Yes. Yes. Something like that. [09:00] And did you keep your full time job for five years and then you quit two years ago? [09:04] >> That's correct. There was even more story to that because after two years actually of building, we we thought that we were ready. So we kind of kick it off and after six months we actually shut it down. So then, I was running the business for six months, I shut it down and I went for, still for a full time job for almost three years and then you're still kind of keeping it and growing and then we [09:29] >> kind of, you know, had the restart of the business in 2020, you know, wanted to kick off early 2020 when but then COVID hit, so a little bit delayed. But, you know, COVID was actually from a business perspective, know, good good opportunity for us as well. [09:46] And help me understand growth. So if you're doing about a $100,000 a month today in revenue, where were you exactly a year ago? [09:52] >> So so we're we're we we have we have a we have a good growth every year on year at the moment. Okay. We we we definitely have like more more than 200% year on year growth. Okay? Okay. And we [10:09] do If you're if you're at a $100,000 a month to say in revenue then and you had 200% year over year growth the past twelve months, that means last year you had about $30,000 a month in revenue at A this [10:17] >> little bit more than that. Yes. A little bit more than that. Yes. Yes. So so yes. And we we do it now. [10:24] Is that growth coming from? Is it expanding current accounts or adding brand new customers? [10:28] >> Exactly. So it actually comes a little well, it we we we doubled the amount of clients, but we also increase the average deal size. So think of it, you [10:41] know From what to what? [10:42] >> Yeah, like I told you, like we're focusing now on like selling at least 2,400, okay? Like last year, it was like we had the like 1,800, you know, was the lowest we were selling. [10:56] I love that. More people should be increasing prices. Now you keep saying we, how many co founders are there? [11:02] >> So so I'm I'm a founder of the business, but, know, there is a team of what I called, you know, a founding team. There were actually six of us, you know, that that that that were helping, you know, build the business. Yes. [11:15] But do you personally own more than 50%, or you've split it equally in my all six? [11:19] >> Personally own, but we have, like, a good agreement with everybody that you you know, whenever we're gonna do an exit, everybody's gonna get a fair share. [11:27] Interesting. Have you cook have you signed contracts about, a shadow equity? It's called shadow equity, basically. [11:32] >> We we we we haven't. But look, we we with these six people, I'm working now for, you know, always well, definitely more than ten years. You know, some of them I'm working with, like, for fifteen years. We've done a lot of things together. That's awesome. [11:46] And are you are you assume are you profitable today or are you operating right at breakeven? [11:50] >> We we are profitable. We are profitable. [11:52] Yes. I love that. Okay. So how do you decide where to invest the profits? [11:56] >> So, you know, we we we we're gonna be looking at well, sorry. So you're asking when what how we invest the profits? [12:03] Yeah. So, like, let's say this month, September is about to end and you did over 100,000 in revenue. And let's say you take $20,000 in profits. Do you leave it in the business? Do you pay yourself dividends? What do you do with it? [12:13] >> So we we pay dividends once per year. [12:16] Okay. [12:16] >> Okay. But we mostly invest in the business. And our biggest cost are actually, you know, it's it's it's it's it's unequal is, you know, one is, you know, how much money we pay to people, but actually a big, big cost is also how much we pay for like third party service providers, specifically data. [12:40] Yeah. Yeah. So what you bottom line, are you taking like 20% of the bottom line every month or what's the number? [12:47] >> That's a good question to be honest. I've never I've never actually like, look at it, you know, from from from like You just know you're profitable. Because look at this is, you know, like our January is completely different to December. So yeah, we kind of, you know, we just, we actually take, we have like a fixed agreed amount of money that we take at the moment. Right? And that's what we do. And we don't look at [13:14] >> it at as as, you know, what sort of percentage of of of of, you know, net profit it is. [13:21] So you're six founders, but what's the total team size today? How many people is it six? [13:25] >> We we we we are more than 20 people at the moment. [13:28] Oh, okay. [13:29] >> But not not everybody is full time. Not everybody is full. [13:32] How many are full time? [13:34] >> Well, full time it will be 12 definitely. Yes. 12 will be with and and so so six are yeah. Six are part timers and two eight are part timers. Yes. [13:45] And are they local there in London or are you using outsource like dev shops and marketers? [13:50] >> No. Yeah. It's it's spread all over. So being bootstrapped, you know, means you you you you you cannot really hire people in a way you always would like to. But you know, there's also advantage of that because the day one we have like fairly distributed team. So in UK we have three people, right? And all the rest is actually all over. And I can tell you the only reason third person is actually, you know, now in [14:16] >> The UK is because he's a Brit, but he was living abroad and he just decided to come back. [14:21] Got it. This is a heck of a story. Now talk to me. I mean, you've been working on this, you know, off and on for about seven years. If someone came today and offered you a five x multiple, so about 5 or $6,000,000 all cash upfront, do you sell? [14:33] >> No. [14:34] You said that quick. [14:35] >> Oh, yes. Because, know, we get we get those so so we get interesting emails almost on a weekly basis. [14:43] What's the highest offer you've gotten that you said no to? [14:46] >> No, we now decided actually not to even go into numbers and have that conversations. Okay. There are two companies where we talk to and do some sort of a catch ups like every six months, okay? But look at the moment, if we're thinking of raising then we would be raising to you know, what we call take a company to a next stage, which means like do it a proper international business with offices and and a sales force. [15:17] But I'm [15:18] not talking about raising, I'm talking about selling the the whole business. [15:21] >> Yeah. Yeah. So [15:24] >> that's a good question. So [15:28] >> it is connected because I can tell you now how much I would like to raise for what's a percentage which, you know, it's it's it's it needs to be if if you're talking a millions, okay, it it will be definitely a double digit and it's not gonna be it's not gonna be like a low low double digit, low low. [15:49] Got it. Got it. So you're doing like between 1 and 2,000,000 revenue today, but you wouldn't sell for anything less than 10,000,000, which is 8 figures. And you really prefer prefer to do something in the $50,000,000, $60,000,000, $70,000,000, $80,000,000 range, the high double digits. Is that what you mean? [16:03] >> That's that's that's that's that's where that's what we wanna build. That's correct. Yes. [16:07] Yeah. Yeah. Well, 60,000,000 exit on a million in revenue is obviously a pretty big multiple. If there's anyone that can do it though, it's you. So we'll see what happens. [16:15] >> And I agree with you. And for that reason, like, know, we're not even doing it now. But, you know, we we also kind of see [16:21] I just think if you actually had a $10,000,000 offer in front of you and they was gonna put 5,000,000 in your bank tomorrow, I think all [16:28] of sudden you go, oh, you know what? [16:29] I'll I'll look at a $10,000,000 offer now. [16:32] >> Wait. No. We would say no. [16:33] How long does it how long does it take you right now to make personally $5,000,000? [16:37] >> No. It's it's look. It's it's not it's not just that. Right? It's not just that because I think what you, when you, so there's people who build smaller businesses and they want to like exit three of them, four of them, five of them in their life and so on. Okay, I think in our strategy from the very beginning is that we will build the technology that then will take us to the certain stage to like enterprise [17:01] >> level market. So we're still selling mostly to mid market, have a few initial enterprise clients. But when we start like really selling to that enterprise, this is when, you know, when probably I will make, you know, I would then start saying, okay, I could make a decision if somebody is gonna like give me a good number, then then I can cash out. [17:23] Yeah. Yeah. Very good. Alright. Let's wrap up here with the famous five. Number one, favorite business book. [17:30] >> That's a very good question. You know, I don't think I have one because what I'm doing at the moment on a regular basis, I'm using this Blinkist, okay, app, which, you know, I actually listen to a good book like, you know, like once every week. So that's my my motion is like constantly, you know, feed myself with with with with with my [17:51] >> Blinkist app. [17:52] Number two, is there a CEO you're following or studying? [17:55] >> You know, one one one person that I really, really follow is Richard Richard Branson. [18:04] Number three, what's your favorite online tool for building the business? [18:09] >> Oh, well, that's an interesting question is I [18:16] >> don't think there is one online tool. We build our own technology to actually, you know, help with that business process, you know, automation. So a lot if you ask me what I'm spending most time on at the moment is unfortunately Gmail and and still spreadsheet. [18:31] Fair enough. [18:32] Number four, how many hours of sleep are you getting every night? [18:36] >> I usually go sleep around, like, midnight one, and I wake up seven, eight. So it's it's it it is at least, you know, six, seven. [18:44] Alright. And what's your situation? Married, single, kids? [18:47] >> Married, three kids. [18:49] A busy guy. And how old are you, Marcin? [18:51] >> I'm 46 now. [18:52] 46. Last question. [18:53] Something you wish you knew when you were 20. [18:57] >> Okay. Well, actually, when I was 20, I went I met my wife. So I wish that actually nothing would change. Okay? Because then then then then like my life wouldn't go that way. So I'm yeah. I I think that moment actually, you know, I I had probably the best. Yes. I would say, you know, one thing you could always say, you know, travel is what I what I enjoy. I traveled a lot in my life, but [19:20] >> I also started, like, a bit later. So, yeah, if I if I if I could start it earlier, that would be great. [19:25] Yes. Guys, biami.io, they're business process automation, think Zapier, but enterprise level. Customers pay on average $2,400 per month. They have over 50 customers today, over $1,000,000 in revenue, up from $40,000 a month just a year ago. Good growth. They've done all this bootstrapped. 20 folks on the team of which 12 are full time, and there's six folks that are sort of the founding team, but Marcin really owns the majority of the equity as he looks to [19:48] scale and go to the next level. Marcin, thanks for taking us to the top. [19:51] >> Yeah. Thank you, Nathan, for having me. Cheers. [19:55] One more thing before you go. Have a brand new show every Thursday at 1PM Central. It's called Shark Tank for SaaS. We call it deal or bust. One founder comes on, three hungry buyers, they try and do a deal live and the founder shares back end dashboards, their expenses, their revenue, ARPU, CAC, LTV, you name it, they share it and the buyers try and make a deal live. It is fun to watch every Thursday, 1PM Central. [20:20] Additionally, remember these recorded founder interviews go live. We release them here on YouTube every day at 2PM Central. To make sure you don't miss any of that, make sure you click the subscribe button below here on YouTube, the big red button, and then click the little bell notification to make sure you get notifications when we do go live. I wouldn't want you to miss breaking news in the SaaS world, whether it's an acquisition, a big fundraise, [20:43] a big sale, a big profitability statement or something else. I don't want you to miss it. Additionally, if you want to take this conversation deeper and further, we have by far the largest private Slack community for B2B SaaS founders. You want to get in there. We've probably talked about your tool if you're running a company or your firm if you're investing. You can go in there and quickly search and see what people are saying. Sign up [21:04] for that at nathanlatka.com/slack. In the meantime, I'm hanging out with you here on YouTube. I'll be in the comments for the next thirty minutes. Feel free to let me know what you thought about this episode and if you enjoyed it, click the thumbs up. We get a lot of haters that are mad at how aggressive I am on these shows, but I do it so that we can all learn. We have to counter those people. We [21:23] got to push them away. Click the thumbs up below to counter them and know that I appreciate your guys'support. All right. I'll be in the comments. See you.