How Clipdrop.io CEO jonnathan koch grew Clipdrop.io to $36K revenue and 10 customers in 2022.

hey folks my guest today is jonathan he's a founding member of talent genie and talent scraper along with clip drop dot io his latest adventure aims to turn the one-way video interview software industry on its head by exploring multiple ways to use video in the talent acquisition space jonathan you ready to take us to the top absolutely all right so just be clear you've got three companies which one has the most revenue is it clip drop um at the moment no clip drop is probably the most promising project that we've worked on um talongini is probably the one with the greatest revenue at this point in time globally so what is talent genie how do you make money there talent genie is a applicant tracking system it's a system designed basically to track your recruitment process we integrate into two and a half thousand job boards around the world so monster for instance would be a job board um and effectively integrating to the likes of social media like linkedin pinterest twitter etc or for talent acquisition purposes to track talent and then we use ai to try and process the applications as they're coming in and effectively screen the candidates as they're coming in and what's the business model over there is it sas or a typical recruitment fee or what it's a sas model um but it's the the go-to-market strategy is like the different to a traditional sas model um it's it's more sort of like a one-on-one communication that that leads to to client attraction as opposed to clients coming coming to find you um which is the traditional sas model from what uh you know what we've experienced um but yeah it's it's a good it's a good business um i think that it's got um it's got some decent clients globally we've got about 1500 clients globally now um which is obviously uh uh sorry how many globally about a thousand five hundred uh companies globally using it oh wow and and what do they pay you per month on average to use the tool for their ats it would all depend on on what's being done so it's customizable um so i mean we could build a whole lot of different components into it um to to basically cater for a need whatever the need might be but effectively um you know it could be as low as let's say you know 50 to 100 and as high as 200 as a user depending on what needs to be done well but now as a user is not a customer though right a customer can have a lot of users no it's a user it's a seat a are used so you have 1500 not customers you have 500 seats on your platform yeah currently yeah across how many brands or companies there's probably a total of about 400 different companies using it at the moment i see i see okay so we can take 1500 seats there times 100 per month you're doing 150 grand a month over there in revenue yeah well it depends so in in some cases if you look at at the i mean so i'm based in south africa in the south african context south african market is a very small chunk of what we actually um control on a global basis i think the business probably turns over about five million dollars okay got it so is that a five million run rate today which means it does about 500 000 a month in revenue more or less about 400 000 dollars a month in revenue um it all depends on where you're looking um you know the the reason we got into involved with clip drop is because uh we believe that it's far more promising yes so tell me about that i mean if i was sitting on a business that i assume italian junior is growing doing 5 million a year in revenue i wouldn't i certainly wouldn't distract myself with something new i'd try and keep growing it why was now the right time to focus on clip drop well we think that that it's it's one component of the talent acquisition um space that's been ignored and and um effectively whether where you do find one-way video interviewing type models or automated video interviewing type tools that are out in the market we think that um we think that they are under utilized um to a large degree um and price point is one of the the reasons why they are underutilized we also think that there is a massive opportunity to utilize video for multiple things all within that same space so we found seven different uses for video in the recruitment or talent acquisition space which includes the acquisition or the marketing of candidates um um or both oh what's going on there youtube good to see you guys now imagine this you love watching these interviews with sas founders but imagine if we took all of the valuation data out from over 2807 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 founder path check this out i'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for valuation this year now the secret evaluation is there's many different ways to value a sas business so the reason you're going to see three or four different valuations inside of your frowner path dashboard this is all free by the way is because depending on who's doing the buying of your sas company you're going to get a different valuation a vc is going to pay a different valuation private equity firm is different if you're going to 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 not built off random data again you guys hear these interviews on youtube all these datas are built from real-time valuation data points founders share with us on the show so attraction 1.2 million seed round 3.7 raised they sold 22 of their business go in here and filter by the event maybe you only want to 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 going out right now and you're raising your seed round well 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 data set of sas valuations than what you can get now inside of founder path and we're thrilled to bring it to you all right we're going to go back to the youtube video here in a second but if you want to check this tool out if you want to jump in and sign up you can check it out for free to get your valuation at this link this link founderpath.com forward slash products forward slash evaluations 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 all right let's jump back into the interview you mentioned price how much is clip drop pre-revenue or do you have coil paying customers already um we've got a few a few customers not many uh when i say not many we we had a beta testing coming to an end at the end of this month uh a few of those clients have already switched over and started paying how much per month um roughly about anywhere from a 100 to about 500 dollars a month depending on the number of seats so i think 120 dollars a month for a single seat um see the the model the model is slightly different to the traditional uh model we we are a subscription based service so you could have as many vacancies as you like uh on on the platform whereas other services are charging per vacancy um and of course it comes with a whole lot of additional components as well for instance you you can um you can launch a blog or vlog and we integrate directly into social media platforms um you can direct people directly through to interviews or you can reach out to them so you can do a direct rechart using video so you you can imagine the power of of of you know the two of us sitting here trying to have a discussion over linkedin by text and the next thing someone sends a video message via text or via the but jonathan you mentioned this pricing is unlimited applicants but isn't the core value of your platform if it works i'm hiring more people and shouldn't that be what you charge against if that's the core value well we've actually kept it with the number of gigs space that you could actually use think about dropbox so um we give you about 20 odd hours of recording time per user um why do you think that's a better value metric though the number of candidates hired from a sas perspective we get paid every month well yeah but that's that's the point though right you want to serve your customers first and if sas is the best way to do that then great but you don't want to force a business model on your customers so for your customers why do they care more about storage than they do hiring people well the reality of the matter is that when you're looking at the recruitment industry site just to give you some background i've been in the industry for about 22 years volumes do fluctuate but we are basically charging the same price that someone a competitor might charge for a single vacancy now if you if you're working anywhere from five to ten vacancies a month it makes a lot more sense to use a product like ours at the same price as...