Founder Interview
How Brandlive Built Live Video for Brands: Just Over $4M in Total Revenue for 2018 and 100+ Enterprise Subscriptions (Interview with Fritz Brumder)
- Interview Date
- August 21, 2018
- Interviewee
- Fritz BrumderFounder and COO
Company Metrics at Interview Time
Total Revenue (2018)
$4M
Enterprise Subscriptions (2018)
over 100
ARR Growth (2018)
70%
Net Revenue Retention (2018)
105%
Total Funding Raised
$4.8M
Historical Snapshot
These numbers were reported by Fritz Brumder during the interview recorded in August 2018 and are a historical snapshot, not current figures. See Brandlive’s current numbers.
Key Takeaways
- 01Fritz Brumder put Brandlive's total revenue for 2018 at just over $4M, SaaS and services combined
- 02Over 100 enterprise subscriptions at an average contract value of $30,000 per year
- 03ARR growth was over 70% year over year as of August 2018
- 04Net revenue retention was approximately 105%, meaning expansion revenue outpaced churn
- 05Total funding raised was $4.8M across a $1.6M seed round in 2013 and a $3.2M round in May 2016
- 06Team size was just over 30, based primarily in Portland with presence in San Francisco, Utah, and the East Coast
- 07LTV to CAC ratio was over 3, with roughly $1 in sales and marketing spend per $1 of new ARR
- 08Brandlive had a global network of 40 trained video production professionals serving enterprise customers
- 09The company was close to cash flow positive at the time of the interview
- 10Pottery Barn was a confirmed customer: its live event page, from the video to the name and email opt-in, was 100% Brandlive, set up in Brandlive's admin console
Company Metrics at Time of Interview
| Metric | Value | Source |
|---|---|---|
| Total Revenue (SaaS plus services) (2018) | $4M | Founder interview, Aug 2018 |
| Enterprise Subscriptions (2018) | over 100 | Founder interview, Aug 2018 |
| Average Contract Value (2018) | $30,000 | Founder interview, Aug 2018 |
| ARR Growth (2018) | 70% | Founder interview, Aug 2018 |
| Net Revenue Retention (2018) | 105% | Founder interview, Aug 2018 |
| LTV to CAC Ratio (2018) | over 3 | Founder interview, Aug 2018 |
| Total Funding Raised | $4.8M | Founder interview, Aug 2018 |
| Seed Round (2013) | $1.6M | Founder interview, Aug 2018 |
| Funding Round (May 2016) | $3.2M | Founder interview, Aug 2018 |
| Team Size (2018) | 30 | Founder interview, Aug 2018 |
| Video Production Network (2018) | 40 professionals globally | Founder interview, Aug 2018 |
| Revenue at Spin-Out (2013) | just under $200K | Founder interview, Aug 2018 |
| Year Founded | 2014 | Founder interview, Aug 2018 |
Growth Breakdown
Revenue
Brandlive reported just over $4M in total revenue in 2018, combining SaaS subscriptions with professional services. The SaaS component was the larger portion, with services additive on top. The company had grown ARR by over 70% year over year.
Customers
The company had over 100 enterprise subscriptions, each paying at least $12,000 per year, with an average contract value of $30,000. An additional roughly 100 customers used the platform for one-time campaign events or as nonprofit organizations at lower price points.
Team
Brandlive had just over 30 team members at the time of the interview, with the majority based in Portland and additional staff in San Francisco, Utah, and the East Coast. The company also maintained a global network of 40 trained video production professionals.
Profitability and Funding
Brandlive had raised $4.8M in total, including a $1.6M seed round in 2013 and a $3.2M round in May 2016. At the time of the interview, the company was close to cash flow positive and was considering whether to raise an additional round of over $7M for vertical expansion and sales and marketing.
Growth Strategy
Direct Sales by Vertical
Brandlive used a direct sales model organized around specific industry verticals. The company started in home consumer products and outdoor goods, and was actively expanding into healthcare and other new categories at the time of the interview.
Expansion Revenue Through Add-Ons and Services
The company drove expansion revenue through add-on features, modules, and professional production services. Customers who needed on-site video production could access Brandlive's global network of 40 trained producers, with a one-day event running around $5,000 in production services.
Owned and Operated Live Video Experiences
Rather than relying on social platforms, Brandlive positioned itself as the software engine powering live video on a brand's own website, such as potterybarn.com. This allowed brands to add product merchandising, e-commerce, and other modules that social platforms could not support.
Simulcast to Social Channels
For consumer-facing events, Brandlive offered a simulcast strategy that distributed live video to multiple social channels including Facebook, while keeping the primary experience on the brand's owned website. This gave customers reach without sacrificing control.
Strong Unit Economics to Support Growth
Fritz Brumder called Brandlive's unit economics strong: an LTV to CAC ratio of over 3, and just over $1 of sales and marketing spend for each $1 of new ARR. Net revenue retention closer to 105% meant expansion from existing customers more than made up for revenue lost to churn.
Best Quotes
“Yeah. So first of all, our primary customers are brands and retailers, as you mentioned. And they're looking to find, faster and better ways to engage with a variety of audiences. So, everything from internal communication, employees, distribution partners, b to b audiences, and ultimately end consumers. And they're looking for a visual, real time, interactive way to engage those audiences for whatever their story may be. And live video is the perfect arrow in the quiver for that.”
“Yeah so with annual programs and they range from the low $30,000 range up to mid $60,000 range per year.”
“Yeah. Yeah. A 100 for us. An enterprise customer is over 12,000 per year because we we had kinda scaled our pricing up. The the average is over 30 k now, but, some of those customers are about a thousand dollars per month. Then we have another 100 or so customers that are using us, like, for one time campaign events or, we have a few customers that are, you know, nonprofit organizations and stuff like that that fall underneath that thousand k or thousand dollars a month.”
“Just over 4,000,000 this year.”
“our retention is right in sort of industry standards. So we don't publish our retention numbers.”
“Closer to one zero five.”
“Yeah. We've raised 4,800,000.”
“We actually were a spin out product, so we had a little bit of revenue. We had just under 200 k in revenue at that time. And we were basically a product inside of another company. And then, in 2016, May 2016, we raised $3,200,000”
“I don't know that off the top of my head, but our our ARR growth is over 70%.”
“Just over 30 team members. Majority of them are in Portland, although we have San Francisco, Utah, and East Coast.”
What Happened Next
At the time of this interview in August 2018, Fritz Brumder put Brandlive's total revenue for the year at just over $4M (SaaS plus services) and said the company was pretty close to cash flow positive. A new raise had been discussed: if Brandlive did raise, he said he would want over $7M, mainly for vertical expansion and sales and marketing. This page reflects the company as it stood during that conversation and is a point-in-time snapshot. Visit the Brandlive company profile for current figures and any developments since this recording.
View Brandlive’s current profile and metricsFull Transcript
Chapters
- 0:01Introduction and Company Overview
- 0:25What Brandlive Does and Its Revenue Model
- 1:16The Pottery Barn Example Explained
- 2:21How Brandlive Differs from Facebook Live
- 3:48Pricing and Contract Structure
- 4:12Expansion Revenue and the Production Partner Network
- 6:47Customer Count and Enterprise Definition
- 7:37Total Revenue and SaaS vs Services Breakdown
- 8:37Services, Churn, and Net Revenue Retention
- 10:07Funding History and Rounds
- 11:14ARR Growth Rate and Growth Drivers
- 11:55Sales Channels, New Verticals, and CAC
- 14:00Potential Future Raise and Use of Funds
- 15:40Team Size and Locations
- 15:48Famous Five and Closing Thoughts
Introduction and Company Overview
Nathan Latka
00:01Hello, everyone. My guest today is Fritz Brumder. He is an Internet strategist and entrepreneur and currently the founder and COO of a company called Brandlive, a SaaS live video platform used by brands and retailers to create highly engaging live content for marketing, training, and commerce events. He's been developing digital media solutions for the world's best brands for over ten years. Fritz, are you ready to take us to the top?
Fritz Brumder
00:24Yeah. Absolutely.
What Brandlive Does and Its Revenue Model
Nathan Latka
00:25Alright. Tell us about this company. So what do you guys do and what's your revenue model? How do you make money?
Fritz Brumder
00:31Yeah. So first of all, our primary customers are brands and retailers, as you mentioned. And they're looking to find, faster and better ways to engage with a variety of audiences. So, everything from internal communication, employees, distribution partners, b to b audiences, and ultimately end consumers. And they're looking for a visual, real time, interactive way to engage those audiences for whatever their story may be. And live video is the perfect arrow in the quiver for that. So,
01:01we enable live video for those brands and retailers. Our revenue model is software as a service based. So we have a platform that our customers log into, and they can manage and run these live video events as well as get analytics and reporting.
The Pottery Barn Example Explained
Nathan Latka
01:16So walk me through how this actually works. I'm looking at the Pottery Barn example right now. It says, some are entertaining, have lunch with Pottery Barn this Thursday at 12PM, and it looks like a video thumbnail or something with a name and email opt in. Which part of this is you?
Fritz Brumder
01:31A 100% of that. So, we basically are a web... Mini website builder or a meeting event builder. So, some people might think of it as like a traditional meeting like you would have on Skype or GoToMeeting or something like that. But we provide that much more of a social and web based context and mobile, of course, as well. It's really it's really a mobile first experience. So, our customers use our admin console to be able to
01:56create the Pottery Barn example that you're looking at right now. So, that would be modules and widgets that you can turn on and off, design customizations that you can turn on and off. It's, again, sort of like a website builder or if you were building an event page on Eventbrite, for example, you could do a lot of similar things. There, it's for just registration and payment. For us, it's live video broadcasting and interactivity.
How Brandlive Differs from Facebook Live
Nathan Latka
02:21So, Fritz, I wanna... I mean, people listening right now might just think, wait. I'll just embed my Facebook Live into a landing page and that this works for that. How are you different?
Fritz Brumder
02:31Yeah. So, first of all, I mentioned that our use cases and the audiences that our customers are utilizing live video to engage with are not only consumer facing, but they're also internal. So Facebook live doesn't really work for that kind of scenario.
Nathan Latka
02:44You mean, like internal training?
Fritz Brumder
02:46Yeah. Internal training and communication like sales meetings, town halls, internal product launches, b to b sales events. B to b e commerce is a big, use case for us. So when you have a new product that you need to tell all of your buyers and customers about, you're not gonna do that on Facebook live. So, one, a lot of our use cases just... You can't do that on social live video. For our consumer facing events, we
03:12still do leverage social. So, we have a simulcast strategy to a variety of social channels, including Facebook. But when you get people to your website... So we we are primarily driving the owned and operated experience on adidas.com or walmart dot com or something like that, potterybarn.com. So, we're sort of the software engine that is enabling a live video experience on their website. When it's on their website, there's lots of different modules and features that they want
03:42to add to that experience, like product merchandising and ecommerce. You can't get, with Facebook bot.
Pricing and Contract Structure
Nathan Latka
03:48Got it. Interesting. Okay. Very good. Walk me through pricing. So you said, you're a pure play SaaS company. I don't wanna go down every customer cohort, but on average, what's the customer pay per month or per year?
Fritz Brumder
03:59Yeah so with annual programs and they range from the low $30,000 range up to mid $60,000 range per year.
Nathan Latka
04:07Okay would you say that the lower end of that is a fair average call it $30 to $40 grand?
Fritz Brumder
04:11Yeah.
Expansion Revenue and the Production Partner Network
Nathan Latka
04:12Okay. And why would someone pay 30 versus 60? In other words, what do you use to drive expansion revenue?
Fritz Brumder
04:18Yeah. We have add on features and modules, and then we also have services. So some of our customers need additional production services. For example, we have a group called Brandlive Production Partners. It's a global network of video producers that we have trained and educated on the workflow of live video, which is kind of Brandlive, but you could utilize that for Facebook Live or YouTube Live or Ustream or Livestream or anything like that. So we have kind
04:47of created, you know, it might sound cliche, but sort of the Uber of live video.
Nathan Latka
04:52Fritz, where where is that? Where is... So when I travel to, like, I'm in Austin now. When I travel to New York and I wanna do a Facebook live, like a lot... Like live broadcast with, a DSLR camera and the whole setup and the lighting, I have troubles using thumbtack to find video people that know how to plug into, like, OBS into the Facebook stream API, etcetera. You're saying you have people already trained in New York
05:12who can hire on the spot to do that?
Fritz Brumder
05:14Exactly. Yep. And right now, that is exclusively for the Brandlive now.
Nathan Latka
05:19You're such a tease. This is... I know. Such a tease. You need to make that public.
Fritz Brumder
05:23But you can you can utilize it for other stuff too. So the... Like I said, these people are trained and educated on the workflow of live video. It doesn't matter if you're broadcasting to
05:32live
Nathan Latka
05:32Why why not... That... I mean, that to me sounds like a very interesting idea to to actually open up to the public. Why why haven't you opened that up?
Fritz Brumder
05:40That's why I came on this podcast, to get some new ideas.
Nathan Latka
05:43I mean, is it something you're seriously considering?
Fritz Brumder
05:46Yeah. We've looked at it, but, you know, we're just... There's obviously... As an entrepreneur, you have to have focus. And, we're serving our customers really, really well. And the people that would leverage that kind of network is a totally different kind of customer.
Nathan Latka
06:01So Yeah.
Fritz Brumder
06:02We we have multiple different, new business models or expansions to our business model. That's one of them.
Nathan Latka
06:09How many video professionals are in that network like across cities across The US?
Fritz Brumder
06:14Yeah. Globally we have 40.
Nathan Latka
06:16So it's not the math. So there's a real issue if you open it up to the public that all of your inventory would get used up by people potentially that are not Brandlive customers, which would be an issue? Yeah.
Fritz Brumder
06:27We are one on one training these folks because, you know, our customers are enterprise. So, we expect that when they go on-site, they're real professionals and they know every single step in the process.
Nathan Latka
06:27Yep.
Fritz Brumder
06:27And therefore the... You know, for like to produce a, you know, one day event is around the 5 k range just for the production services.
Customer Count and Enterprise Definition
Nathan Latka
06:47Yep. That makes sense. What have you scaled to? How many customers are using you today?
Fritz Brumder
06:53We have over a 100 enterprise subscriptions.
Nathan Latka
06:57Okay. And just to be clear, that... That's not... You know, people cheat that question sometimes. That's not like free and pay. Those are all paying customers.
Fritz Brumder
07:03Yeah. Yeah. A 100 for us. An enterprise customer is over 12,000 per year because we we had kinda scaled our pricing up. The the average is over 30 k now, but, some of those customers are about a thousand dollars per month. Then we have another 100 or so customers that are using us, like, for one time campaign events or, we have a few customers that are, you know, nonprofit organizations and stuff like that that fall underneath
07:29that thousand k or thousand dollars a month.
Nathan Latka
07:31So... But just to be clear, the 100 you just gave me, those are your enterprise folks more than $30,000 per year in revenue?
Fritz Brumder
07:36Yes.
Total Revenue and SaaS vs Services Breakdown
Nathan Latka
07:37Exactly. Got it. I mean, so can I back into a minimum there? Right? A 100 times that $30,000, you know, per year minimum that puts you at about what? $250,000 per month minimum. Is that about right?
Fritz Brumder
07:48Yeah. We're actually more than that.
Nathan Latka
07:49Yeah. Yeah. Again, just minimum. I assume you're probably well... You could be well north of that.
Fritz Brumder
07:49Yes. Yeah.
Nathan Latka
07:49What what percent... So that's a $3,000,000 annual run rate. I mean, that your is that your your largest revenue stream, are there other things that eclipse that, like your services products?
Fritz Brumder
08:06We do have services on top of that, but they don't eclipse that. They're just additive to that.
Nathan Latka
08:10Yep. That's great. Now a lot of times people add and it......
Fritz Brumder
08:13See some... Yeah.
Nathan Latka
08:14Go ahead.
Fritz Brumder
08:15Nothing. I was just gonna say, you know, we're... We've submitted to the Inc. 500 or Inc. 5000 last couple of years. So we do have some revenue numbers published out there.
Nathan Latka
08:24Oh, great. What what are those? Do mind sharing just to save me from looking them up?
Fritz Brumder
08:26Just over 4,000,000 this year.
Nathan Latka
08:29Okay. But that's SaaS plus services?
Fritz Brumder
08:32Yes.
Nathan Latka
08:323,000,000 of that is pure play SaaS?
Fritz Brumder
08:35Yeah. It's actually a little bit more.
Services, Churn, and Net Revenue Retention
Nathan Latka
08:37Yes. Okay. But somewhere around there. That's great. Now a lot of times people might ding your valuation because you're a mix of professional services, is typically lower margin than pure play SaaS. But I would actually argue the counter, which is if you put services on top of the pure play SaaS, it makes that SaaS stickier. So, lifetime values increase. Two questions. One, do you agree with that? And two, what is your churn today?
Fritz Brumder
08:58Yes. I totally agree with what you just said. I think the services not only increase the value that you're delivering to the customer, and therefore they're willing to spend more with you and stay with you longer. And then,
09:14I also think that, it's a false assumption that services aren't scalable. Our Brandlive production partner network, like you mentioned, could be scaled wildly. Right? We could have online training tools to get production people up to speed, and we could then transfer that to a totally separate business model. That could scale very quickly like a TaskRabbit type of thing. And, I'm not fearful of that, and we've been able to communicate that to investors as well. And then
09:43our retention is right in sort of industry standards. So we don't publish our retention numbers.
Nathan Latka
09:50But Yeah. When you say they're When you say industry standard, I mean, are we talking, like, 80, 90% yearly?
Fritz Brumder
09:55Yeah. Yeah.
Nathan Latka
09:55Okay. Got
Fritz Brumder
09:56Gross. Gross. Net positive over a 100%.
Nathan Latka
10:00That's great. How far over a 100? Are we talking, like, one twenty or one zero five?
Fritz Brumder
10:06Closer to one zero five.
Funding History and Rounds
Nathan Latka
10:07Yes. Okay. That's good, though. So north of a 100% net revenue retention annually, meaning your expansion revenue more than outpaces any lost revenue. That's obviously a really healthy place to be. You just mentioned your ability to communicate with investors. So have you raised capital? And if so, how much?
Fritz Brumder
10:21Yeah. We've raised 4,800,000.
Nathan Latka
10:23And when was that first round?
Fritz Brumder
10:27Late twenty thirteen, we closed and you know, hit the ground running early two thousand fourteen.
Nathan Latka
10:33So is that pre revenue? You raised that first round?
Fritz Brumder
10:36We actually were a spin out product, so we had a little bit of revenue. We had just under 200 k in revenue at that time. And we were basically a product inside of another company. And then, in 2016, May 2016, we raised $3,200,000
Nathan Latka
10:36Okay. So... So those were...
10:55Give me the day one.
Fritz Brumder
10:55Day
10:58one was 2014.
Nathan Latka
10:58Okay. Yep.
Fritz Brumder
10:58And then you raised one. February. And
11:07then that was 1.6 seed round, and then 3.2 was May 16.
ARR Growth Rate and Growth Drivers
Nathan Latka
11:14Yep. Good stuff there. Alright. Talk to me... It sounds like you've already published this, but talk to me about growth. So if you're at kind of 3,000,000 pure SaaS AR today, where were you exactly a year ago in August 2017?
Fritz Brumder
11:26I don't know that off the top of my head, but our our ARR growth is over 70%.
Nathan Latka
11:32Okay. So, yeah, if if it's 70% year over year growth, that means what you would have been about $160,000, something like that about a year ago per month.
Fritz Brumder
11:40It's about right.
Nathan Latka
11:41Yeah. That's great. And is most of the growth coming from adding new customers or from expansion revenue?
Fritz Brumder
11:48Adding new customers predominantly, you know, yeah, because the... Yes. New customers.
Sales Channels, New Verticals, and CAC
Nathan Latka
11:55And where where are you finding those folks? What... Like, which channels and specifically, what what are you what are you willing to pay to acquire one of them?
Fritz Brumder
12:02Yeah. We have a direct sales model, that is vertical based. And so we're expanding our verticals. We started a lot in kind of home consumer products, outdoor products, basically anything that you would find at REI or Cabela's or something like that. Our new verticals are things like, healthcare is a growth category for us. We're really excited about that. Is another
Nathan Latka
12:26have never heard anyone say they are really excited about anything remotely close or even related to healthcare. What the hell is wrong with you?
Fritz Brumder
12:33Yes. Yeah. I mean, the exciting thing about healthcare though is there's obviously a tremendous amount of change that needs to happen, and they're very slow to adopt digital. And we think that there's a lot of opportunity for one to many healthcare delivery models, both communication and service delivery. So one of the more exciting aspects of healthcare right now is online healthcare, and they're just utilizing Skype or Zoom or something like that. But those business models are
13:03gonna evolve heavily.
Nathan Latka
13:03Do you
13:04have to worry about HIPAA compliance?
Fritz Brumder
13:06You do for service delivery. Yes.
Nathan Latka
13:08Yeah. Yeah. That's a whole that's a whole big interesting thing to jump into. Okay. So what is CAC today? Are you are you... Like, are you spending $15 to acquire $30 to your customer? What's CAC?
Fritz Brumder
13:19No. We... We're we're just over a dollar per a dollar in sales and marketing cost per dollar of ARR per year.
Nathan Latka
13:19That's great.
Fritz Brumder
13:19We're we're... You know, even in year one and then lifetime value is,
13:36you know, over multiple years, of course.
Nathan Latka
13:38What what do you what do you right now peg a lifetime value to?
Fritz Brumder
13:43Well, I know off the top of my head, our LTV to CAC ratio is over three.
Nathan Latka
13:47Okay. So So if you're spending, you know, a dollar spend for a dollar of new ARR on your average, you know, your minimum contract there is, call it, $30,000 a year. So you spend $30,000 to acquire. You're saying it's at least $90,000 in terms of lifetime value?
Fritz Brumder
13:59Yes.
Potential Future Raise and Use of Funds
Nathan Latka
14:00Yeah. That's great. Let's... Last question here. Last time you raised it, sounds like it was about a year ago. Are you considering raising capital right now?
Fritz Brumder
14:09Yeah. We've talked about it. I mean, fortunately, we've always been a really solid business model. Our unit economics are strong. And so, we're pretty close to cash flow positive right now. We're in control of our own destiny. We're going through some kind of changes in the market and looking at potentially some consolidation. And...
Nathan Latka
14:09You would be
14:29buying some other companies or someone would be buying and rolling you up?
Fritz Brumder
14:33Both. Buying, merging, partnering. Not merging. Buying. We're partnering.
Nathan Latka
14:33So If you did raise if
14:43you did raise, how much would you wanna raise?
Fritz Brumder
14:45Over 7,000,000.
Nathan Latka
14:46And why? Where would you spend it?
Fritz Brumder
14:50It would be vertical expansion, sales and marketing predominantly. Although there's a lot of product opportunities as well. Audience acquisition is a big white space for us, you know, in order to have successful live video events.
Nathan Latka
15:03Yeah. I spend... I'll tell you what, I spend a lot of money on amp live to to juice my live events. And it's really interesting. They basically have a display network for when you go live, they'll launch these things instantly and drive your traffic. You're considering launching something like that maybe?
Fritz Brumder
15:19Well, actually, amply is one of our partners.
Nathan Latka
15:21So Oh, great. Yeah.
Fritz Brumder
15:22Yeah. I know... We know them very well.
Nathan Latka
15:24Should buy them?
Fritz Brumder
15:26Maybe.
Nathan Latka
15:27Who's bigger? I don't remember what their numbers are.
Fritz Brumder
15:30We're bigger.
Nathan Latka
15:30Okay. There... You know the numbers. Alright. Very good. So you'd... You... You're thinking about raising 7,000,000. And break down your team for me today. How many team members total, and where are you guys based?
Team Size and Locations
Fritz Brumder
15:40Just over 30 team members. Majority of them are in Portland, although we have San Francisco, Utah, and East Coast.
Famous Five and Closing Thoughts
Nathan Latka
15:48Utah, East Coast. Very good. Good. So thinking about raising potentially, we'll see what happens there. Very good, Fritz. Let's wrap up here with the famous five. Number one, what is your favorite business book?
Fritz Brumder
16:02I have so many, but Linchpin, Seth Goddard.
Nathan Latka
16:05Number two, is there a CEO you're following or studying right now?
Fritz Brumder
16:11You know, I've been listening to Freakonomics, and they had a great five series episode interviewing five different CEOs. And the woman from Pepsi who actually just retired Yeah. Or resigned Yeah. She she was impressive.
Nathan Latka
16:26There you go.
16:27Number three is their favorite online tool you have for growing your business.
Fritz Brumder
16:34I don't.
Nathan Latka
16:35Number
Fritz Brumder
16:35There's so too many to list one.
Nathan Latka
16:38And number four, how many hours of sleep do get every night?
Fritz Brumder
16:41I try to hit eight.
Nathan Latka
16:42Okay. And what's your situation? Married, single, kids?
Fritz Brumder
16:46Married, two kids.
Nathan Latka
16:47And how old are you, Fritz?
Fritz Brumder
16:49Just turned 40.
Nathan Latka
16:51Yeah. The big four o. I love it. Last What do you wish your 20 year old self knew?
Fritz Brumder
16:57Man. I used to say, it takes longer than you think, so be patient and stick with it. But now I'm starting to get impatient again. I want things to happen faster, you know, but you realize businesses just don't become something great overnight.
Nathan Latka
16:57Yep.
Fritz Brumder
16:57Know? It's a ten year process,
17:19that's hard to stomach sometimes.
Nathan Latka
17:20Try and stay patient. Fritz launched Brandlive in 2014 to really help mainly home kind of good consumer goods services. Think about things in REI, etcetera. Do live video, whether that's, you know, you know, REI launching their new owned licensed product or party... Pottery Barn and they wanna launch to suppliers. They wouldn't do that on Facebook Live. They wouldn't do that on GoToWebinar because it's too private. So Brandlive allows them to set up a landing page specifically
17:45for that with nice social engagement. They've got 30 people in remote locations mainly in Portland, San Fran, Utah, the East Coast building this tool. They've got about a 100 customers paying, call it $30,000 per year minimum. So $250,000 per month in revenue passing 3,000,000 in pure play SaaS, 4,000,000 though in total revenue when you add services back on top of it. Economics are really healthy. Flirting with a 105% net revenue retention annually, 80 to 90% gross
18:09revenue retention, spending about a dollar on CAC for a new dollar in ARR. So healthy twelve month payback period there. $4,800,000 raised considering a potential raise right now growing about 70% year over year.
18:21Fritz, thanks for taking us to the top.
Fritz Brumder
18:23Sounds good.
18:24Thank you.