How Hopin Reached $1.8M ARR and 1,200 Customers in Weeks After Launch (Interview with CEO Johnny Boufarhat)

Host intro and context

Nathan Latka

00:00Guys, I'm going a little crazy here. It's the week of May 11, and I'm fighting like heck not to be a degenerate and download TikTok. Anyways, I hope you're safe and happy and healthy. Quick reminder about today's interview. I timestamped the interview below in the first comment. You can skip to the critical moments where the CEO shares revenue data or growth data or things like that. That'll save you time. Number two, our founder shout out this

00:19week goes to Deepankar Alwat building a great stealth company out there in India. And lastly, we're about to play today's interview. I'm gonna hang out in the comments for thirty minutes to engage with any questions or comments that you guys leave. Alright. Here we go. Hello, everyone. My guest today is Johnny Boufarhat. He is the CEO and founder of Hopin, the online events platform. The company has grown from one person to a 40 person remote company

00:40in five months and grew in revenue from zero to a million bucks in ARR in three weeks. Johnny, you ready to take us to the top?

Johnny Boufarhat

00:40Absolutely.

Nathan Latka

00:40So some more context around this. We are recording here on April 21. Some of my friends have moved their in person events to online, and they are using your platform. And I said, well, if this guy's in the business of events and he's doing them online, I wanna talk to

01:02him right now because your business must be going through all kinds of growth.

Johnny Boufarhat

01:06Yeah. Absolutely. It's been a it's been a pretty crazy period.

Nathan Latka

01:11So tell us how crazy. Right? So if people wanna follow along, the site's hopin.to, hopin.to, what do you guys do, Johnny?

What Hopin does

Johnny Boufarhat

01:19So we're a virtual events platform that really focuses on engagement and networking. You know, most of you guys have heard of virtual events before or or been to them. And I I feel like, you know, you you kinda shrug in general. You know, there's been... Virtual events have existed for twelve years. It kind of always sucks. And and so what we've tried to do is bring them online, not make them look too animated or too cheesy

01:44in a way. And also, in in the opposite sense, you've seen, like, the the offerings that are, like, more like websites built with pictures of what areas should look like, if you know what I'm trying to say. And we focus on more of the networking engagement interactivity and the things you really go to an event for.

Nathan Latka

02:00Yep. This is a... Those of you that are only listening on iTunes right now or Google podcasts, the the interface looks very much like kind of how you would go live on YouTube in terms of like there's live chat, but there's also nice buttons like a reception area you can go into or go into one on one meetings via kind of a meetings icon. There's a lot of other stuff built in. What... I mean, is there

02:22anything else besides the features I just mentioned, Johnny, that you see a lot of your customers using today?

Product, waitlist, and team size

Johnny Boufarhat

02:27Oh, absolutely. And if you're looking at the website on April 21 as we are on today Today.

Nathan Latka

02:32Yeah.

Johnny Boufarhat

02:32That is... We have a new website coming out that shows all our functionality. I mean, we're in early access early access, but we have so many users now. But we do have a really big wait list. We just don't have a big enough team to basically handle the support and the customer success. But in terms of the product itself, that website is about nine months outdated. It was just me on the team when the website was

02:54pushed out. We didn't have 23 engineers almost every image that you see there.

Nathan Latka

02:54So you have

03:00you have 23 full time engineers right now?

Johnny Boufarhat

03:03Yeah.

Nathan Latka

03:04And what's the total team size?

Johnny Boufarhat

03:0738.

Nathan Latka

03:0738. Okay.

03:08So did you raise... You must have raised capital to scale that quick.

Funding raise from Accel

Johnny Boufarhat

03:11Yeah. We raised capital about three months ago or two months ago from Accel.

Nathan Latka

03:16Okay. And how much did you raise?

Johnny Boufarhat

03:18We raised a £5,000,000 around $7,000,000.

Nathan Latka

03:22And what... So that was before really the virus was... It was right as the virus was kind of hitting ish, but they... Were there any chats about the virus during the raise and the and the diligence?

Johnny Boufarhat

03:33No. There was nothing. There was... The virus hadn't hit yet. I mean, the process began in December. Yeah. And so I... That was a... It was a crazy raise, really. There was a lot of interest. You know? I I... You know, in November, I was... You know, because we had seen the incubation. I mean, one of the cool things about events is... And you could see it with, like, Eventbrite. Right? You invite you invite a thousand

Virality and growth philosophy

Johnny Boufarhat

03:55people to an event. Right? A thousand people will see the Eventbrite logo, get excited. And if they have a great experience, they'll say, when I run my next event, maybe I'll use Eventbrite. I've seen that before. Now on the other end of the funnel though, going to a physical event is complicated. It's not very accessible. It's not easy to to bring people in, basically. It's not easy to plan it. Whereas with Hopin, I I always said

04:17we're probably gonna be the fastest growing company in the world when we decide to push out because we saw the viral effect. You get a thousand people in a funnel coming into one event, and then on the other end of the funnel, when they finish the event, if they have a great experience, it takes ten minutes to set up an an event on Hopin. You know? And and you can engage your entire... And this is what

04:34we're seeing, you know, because we have virtual gym nights people do. We we have conferences. I mean, we really consider ourselves just a venue, and that's why we kind of allow people to do any type of event they wanna do and just give them the tools to do it. And so that's our philosophy, and it's worked really well. But it's also why I feel like, you know, I I was saying it in November, you know, always

04:56to the people around me that, hey. When we launch, we better have a team because we're gonna be in a lot of trouble to to scale this basically, functionally.

Nathan Latka

05:05So I wanna talk more about the virality and scaling. Put this on a timeline though for us first. When did you write the first line of code for the platform?

Johnny Boufarhat

05:12Two years ago.

Nathan Latka

05:13Okay. So that would have 2018. And then when was your first dollar of revenue?

Johnny Boufarhat

05:18So our first dollar of revenue... Oh, there was a few stages in that, but probably mid twenty nineteen, but we were in private beta. We've been in private beta for a long, long time.

Nathan Latka

05:29But point is you were able to write the first line of code, get an MVP up, and actually generate your first dollar revenue in under a year, basically. It sounds like eight to ten months.

Johnny Boufarhat

05:37Yeah. Yeah. It was it was a a speed dating company using our events for a for speed dating event. So, yes, I remember very

Nathan Latka

05:44That's funny. Okay. And today, what's the average customer pay per month or per year to use you guys?

Pricing and customer count

Johnny Boufarhat

05:50So we have a self-service early early access plan, and the average, I mean, the starting cost is $99 per user per seat, basically.

Nathan Latka

06:00Now what does that mean, though? Is that per per organizer of the event or per attendee of the events?

Johnny Boufarhat

06:05That's per organizer of the event.

Nathan Latka

06:05Okay. So it's definitely not per per

06:09It'd be very it'd be very expensive.

Johnny Boufarhat

06:11Yeah. Very, very expensive. It'd be like a luxury venue. No. We're we're not that expensive as a venue. So it's $99 per organ... Per organizer, so per seat, and that organiser allows you to moderate, to do things in the event basically as you expect with any other per seat product. But it also allows... It also gives you a 100 registrations included per organiser. So this is how we thought about it, that you have 10 organizers, for

06:35example, in your account, then you'd pro... You would have 1,000 free tickets to use every month to get people to come to your events.

Nathan Latka

06:35Yep.

Johnny Boufarhat

06:35And then after that, you pay 50¢ per head. And that's our free plan... Or sorry. That's our early access plan. And then we have a a enterprise plan that be... Begins much higher.

Nathan Latka

06:53Okay. And how many customers are you working with today monthly?

Johnny Boufarhat

06:57How many customers? I think close to 1,200 now.

Nathan Latka

07:01So walk me through the transition of the waitlist you have. Even on the website right now, there's no, like, wait. Doesn't look like... It just says join waitlist. Join 10,000. How are you moving people from the waitlist over to paid?

Waitlist management and sales funnel

Johnny Boufarhat

07:11Yeah. It's really difficult. Right now, it's... We begin... We we started the pipeline with a Typeform, basically. The Typeform got overrun, and we couldn't track it. And then we decided to send it through to Clearbit to to send... Enrich the data. And then what we realize now is that because coronavirus happened or COVID nineteen, we've actually had just too much inbound. Too much inbound to... And this is like... It sounds incredibly bad because it

07:36would have been my dream in November for that. But too much inbound to proper... To do things properly. And that's a serious problem because we don't have proper support for those on the early access plan, so we're trying to even slow down. We have this waitlist now close to a 180,000, and we've probably onboarded about 2,000 of it.

Nathan Latka

07:56Does that 180,000, that's just people that put in their email that said, I wanna try Hopin.

Johnny Boufarhat

08:00Well, it asks you if if you wanna be an organizer or not, and so most of them select organizer. So it's about 95% organizer.

Nathan Latka

08:09Okay.

Johnny Boufarhat

08:09So potential organizer. Because, again, Hopin is a venue. We we have people that are just looking for us for meetups, and on the other side, it's for people that are looking for, like, conferences or or or, you know, hackathons, whatever it is that they're doing. It's it's across the spectrum. So we've had almost too much reach out to be able to handle, and it's led to... You can see it. Like, I'm starting to see it on

08:32Twitter where people will just be like, how how long does it take you guys to get back to us? You know what I mean? Sort of thing. And it's... It it feels pretty shitty

08:39to be

Nathan Latka

08:39So what's the process? You get you get a thousand new leads today. How do you know who to let in, who to not?

Johnny Boufarhat

08:44So at the moment, it's whoever bangs the door most. So people will usually fill in the people who really needed it. So for example, I I got a call on Friday from one of our sales leads saying, hey. There's this company that was planning an event for Tuesday. They needed to run the event. It's... They're in in person, but they need to move it online. This was three weeks ago. And so they were actively messaging every

09:06single person on LinkedIn. This is the worst thing. Please don't do this because it's not... But, I mean, it... It's kinda like... It's genuinely... Obviously, if they're a really, you know, really, really big companies reach out through our investors and then try and get an intro through there. But majority of majority of people at the moment, we're reaching out on a... Like, we're trying to do it as fairly as possible. We ask for the... What is

09:29your budget? Do you need self-service? If we realize it's a self-service person, someone who doesn't need any custom support or near... Need to go near the enterprise plans, then if it's under a certain amount of people they're expecting at their event and it won't affect our bandwidth or we need to look at it with extra support sort of thing, we'll throw out... We'll we'll let them in pretty pretty well... Pretty quickly if we can get back

09:50to them in the email. But at the moment, there's no real way, I would say, other than waiting. We're setting up a proper pipeline, and we plan to launch publicly very, very soon. We're just getting the team in place.

Nathan Latka

10:00Yeah. So... Okay. So the funnel right now is I put in my name, my email, and if I wanna be an organizer, attendee, or other. And then it takes me to the website. It says expect to hear from us in the next forty eight hours with a link to go book a demo. So have you... And then that goes to the Typeform, I believe. Right?

Johnny Boufarhat

10:14That's correct.

Nathan Latka

10:15Yeah. Okay. So what? You didn't take the Typeform and give it to your sales reps. And if someone says I have a million dollar budget, you let them in quickly. Or if they say I'm gonna have 10,000 people at our event, you let them in quickly.

Johnny Boufarhat

10:24That... That's what was happening, and then we realized the million dollar budget people were a lot of people that were agencies that run events for multiple companies, and we didn't have the tools to work, but we didn't have the contracts set up to work with agencies yet. So in most cases, if the budget's really, really high, yes, we will try to move them forward. But, also, we're being mindful of how much support that high budget company

10:44is gonna need. Because we've noticed that a company that is running a 1 to $1,000,000 budget, they're just not like, hey. We're willing to pay for the same software that everyone else paying for for a million dollars. They want, like, six people to be running their project for them.

Nathan Latka

10:44Yeah.

Johnny Boufarhat

10:44And so in event, they want extra support. They want all these things. So we've now decided that we're kinda looking for the middle tier, the people that

11:04we know, you know, this is a decent budget, but also a lot of basically, don't need as much support, and and those are the ones that we are trying to funnel through.

Nathan Latka

11:13Yeah. I'm going on a Typeform now. I mean, these are great questions. You're asking them, like, is this a conference, a hackathon, a workshop? You're asking, like, what's their budget? How many people do you expect to register? These are all things that help you prioritize.

Johnny Boufarhat

11:23Exactly. Yeah. But even still, I would say we're not doing a good enough job.

Nathan Latka

11:27Yeah.

Johnny Boufarhat

11:28And they were even qualifying that in Clearbit after, and we've tried so many things to basically nail it.

Nathan Latka

11:35So what is the flow today? In the middle of virus, everyone's moving everything online. There is no other option. Like yesterday, how many new leads did you get fill up the Typeform, and how many people actually booked a demo using your Notion integration after the Typeform submission?

Johnny Boufarhat

11:47I mean, I'm gonna have to take a look at this, but I think the number is close to the... The HubSpot form... Sorry. The the website form gets a lot, you know, over a thousand, whereas the... Around a thousand a day, and the Typeform gets about 130 to 180 a day.

Nathan Latka

12:05One eighty per day. Interesting. And then how many demos get... New demos get booked per day?

Johnny Boufarhat

12:10So now we've switched the system, and that was very recently. I should have mentioned that. So if if the company... If it looks like some... Someone that needs a one to one demo, high budget, big company, big enterprise, for example, we'll send it over to a one on one demo with one of our team members, which we've recently done. Everybody else gets to go to a group demo that we're starting to set up twice a week.

12:29So the group demo is basically where we show them the product, etcetera. There is a live q and a. It shows all of Hopin's features and why we're amazing our demos because they're not just like a webinar. It's like you get to experience everything. There's live q and a's where you can put... Turn on your video, ask questions to different people on the team. And from there, we're trying to push people to say, like, go do

12:49the self-service plan if you want.

Nathan Latka

12:51Yep.

Johnny Boufarhat

12:51You know what I mean?

Nathan Latka

12:51Yep. That's a very... I mean, look. When you have an AC that's $99 a seat and you don't know if it's gonna be a $99 seat of a plan or, you know, they have 10 organizers, you don't know. It's hard to associate a sales rep with a $99 month plan. So doing the one to many approach actually helps you scale the sales team and do it profitably.

Johnny Boufarhat

13:07Absolutely.

Nathan Latka

13:08How many salespeople do you have with quota?

Johnny Boufarhat

13:11At the moment we have eleven and four have joined in the last... Five have joined in the last two weeks.

Nathan Latka

13:17Okay. Got it. So 11 with quota and then... Okay. So let me ask you a different How much new ARR have you driven over the last three months?

ARR growth from zero to $1.8M

Johnny Boufarhat

13:26One and a half month ago, there was zero ARR. We were still in private beta. We were very... Like, I... I'm saying zero, but it's like not... We weren't pushing out. The reason we pushed out is because of COVID nineteen. At that time, it was about an eight person company that was just mainly developers and myself just working on the product, perfecting it, waiting till September. What happened was COVID nineteen happened, and we said, oh my

13:49god. You know, we don't want this marketing... Because what's gonna happen is people are gonna use Zoom or Zoom. Yeah. Typical things for their for their virtual events. And at the end of COVID nineteen, was worried that everyone would just say, oh my... Virtual events are not great. They don't work. And so, actually, there would be a negative experience of virtual events, it would be harder to switch the name positively. So I... And that... That's why

14:11about three weeks ago, I decided, okay. Let's open it... Open up the gates. Let's show the product to people. Let's hope it doesn't... You know, hope it it it basically... Even with 20% less features than we wanted to have when we launched, let's push it out. And and we did, and, you know, it's been hard to manage it. But in that time, in about three weeks, where I think we're at now 1,800,000 ARR from the I

14:34mean, I... When I filled in the form with you, it was one.

Nathan Latka

14:37Yep. Yep. Amazing. Okay. So a couple other questions on that. What was the waitlist size before COVID, like, two months ago?

Pre-COVID waitlist and virality data

Johnny Boufarhat

14:48The wait list side before COVID was around 80,000, and that was over nine months.

Nathan Latka

14:53Okay. So, like, that's impressive. Like, let's ignore the virus for a second. How did you drive people to get on the wait list?

Johnny Boufarhat

14:59We're lucky that we had a very, again, viral product. So even in our private beta, someone would host an event. You have a good experience. About a 800 people would show up to a private... One of our early access or really deep early access events. And we were noticing that about 10% of people would go in and try and fill a form... Would fill the form.

Nathan Latka

15:18So Attendee to user.

Johnny Boufarhat

15:20Yeah. Attendee to user. So for us... And that's what I what I meant by, you know, it was gonna be hard for us not to be one of the fastest growing companies in the world, and we need to have things in place because events are incredibly... You know, it's it's a it's a it's a great funnel. You know? Same Eventbrite had that. A lot of these other event patterns have it, but I think online events like

15:39the ones we're creating has... Have it way more, about 10 x, 20 x.

Nathan Latka

15:39Yep.

Johnny Boufarhat

15:39So that's... I already felt that way coming in, and this has just kinda made it a little bit crazy.

Nathan Latka

15:50Did you have, Johnny, a bunch of other... What I'm trying to figure out is how were you able to get 7,000,000 raised pre revenue? You could point to the wait list and the viral coefficient. You could point to your back. I don't know a lot about your background, but what enabled you guys to raise? I mean, you had to raise 7,000,000 on at least a minimum 20 per... You're not gonna have somewhere than 30% of the

16:04company before you have any revenue. How'd you get that kind of valuation pre revenue?

Virality data and VC excitement behind the raise

Johnny Boufarhat

16:08So, you know, I had built the product as a one person team. I think it was it was a mix of things. Like, there's a lot of that maybe to do with, like, the platform was built. So I've built the product basically on myself over two years, and it comes back a lot back to my story. I I, you know, I was... And maybe a story for another time, but basically, in... By the time the product

16:31came out, I had already basically shown that the virality. So I had I had data showing the virality of the product. And so when I went to venture capital, it was quite obvious that this product is gonna absolutely blow up. And I was... You know, I... I'd love... You know, anyone who wants to know a little bit more should see a demo of the product because it's very similar to the product now. It's better designed. But

16:54the initial one that I did the prototype, let's say, in in... That I released in about November, September, it's pretty clear that it was needed for the world. It's a product that was... You know, the events market is a $1,100,000,000,000 market. It's very rare that you're creating a new a new, let's say, segment of it. And I I I don't wanna say it in that sort of way, but, you know, 400,000,000 of that is business events,

17:16and and that's the part that we're competing in directly, immediately. And we're more accessible. We're better for the environment. We... You know, it's easier to collect emails. It's easier to collect data. There's so many reasons why it's better to do it online or even better to hybridize.

Nathan Latka

17:16Yep.

Johnny Boufarhat

17:16So it was... I think for a lot of VCs, there was a lot of excitement around our product and a lot of excitement, especially being in London. You know,

17:38we had a lot of US VCs, you know, very keen as well as the European. So it was just... I think it was a matter of, you know, hype. I... It's a word... Wrong word, but hype and excitement about the product.

Nathan Latka

17:51Johnny, last couple questions here. You raise money. You have to invest aggressively in growth. There are 38 people on the team today. How much money are you burning every month to take advantage of this opportunity and grow as fast as you can?

Monthly burn and runway

Johnny Boufarhat

18:01So we're currently burning close to 400,000.

Nathan Latka

18:07Total total?

Johnny Boufarhat

18:09Yeah. Total this month was 400,000.

Nathan Latka

18:09Okay.

18:11And then you subtract revenue off that. So you're burning maybe $250,000 ish, $260,000 a month.

Johnny Boufarhat

18:16That's right.

Nathan Latka

18:17Plenty of runway with 7,000,000 just raised. And then what about churn? Is it too early to look at gross revenue churn past thirty days?

Churn and CAC payback

Johnny Boufarhat

18:23No. And I saw it. I saw the numbers actually yesterday, and it looked like it was around it was around 11%.

Nathan Latka

18:30Okay. A monthly?

Johnny Boufarhat

18:30Yep.

Nathan Latka

18:30You probably expect it on the events because that's really high for a traditional SaaS company, but you probably expect that being in the events business.

Johnny Boufarhat

18:38I I expect that being in the events business, being in a... Being in it right now. I mean, it's... None of the numbers that are happening right now in our product are are sustainable. Like, I'd be crazy to say that this is this is gonna... It's gonna obviously continue growing. We're gonna be incredibly viral. But what I imagine is, you know, if we're growing at a 900% per week type thing now, let's just say, like, you

18:58know, a ridiculous amount, the churn is also gonna stabilize. People are gonna be like, oh, this is what I actually wanna host events for. And the and the serious people that were always looking to host these events and create value are gonna be the ones sticking with it, but as COVID, who knows how long COVID nineteen's not. I could be totally wrong. But I believe that everything's just gonna stabilize right now. People are trying the product

19:18and just being like, you know, I can't get past the wait list. They don't have enough tutorials. I just... I'm gonna pay for it just to figure out how it works

Nathan Latka

19:18Yep.

Johnny Boufarhat

19:18And and jumping out. So And our data now is not complete data.

Nathan Latka

19:18Are you able

19:30to back into a CAC for a new $99 a month plan?

Johnny Boufarhat

19:33Sorry?

Nathan Latka

19:33Are you able to back into your current CAC to get a new $99 a month organizer?

Johnny Boufarhat

19:40Yes. Currently, we can.

Nathan Latka

19:41What what is it about? Like, is your payback pretty quick, you think?

Johnny Boufarhat

19:44I would I would say, it's about, like, three months probably.

Nathan Latka

19:49Oh, wow. Okay. So, okay, that's not bad. So $270 to get the customer. Where are you spending that money? Ads?

Johnny Boufarhat

19:54No. We're we're not spending the money at all. I mean, it's mainly on the video technologies because we assume that this person... It's not our cost... I shouldn't have said it like that. It's not our... The cost of bringing the customer in. It's the cost of how how many events the customer we expect them to host based on our, basically, formula, how much our video costs are. Because currently, we haven't built everything that we wanted to

20:14in house, and video streaming costs are very high and the amount of tests that they run. So I I I took it in a different way, but, basically, that's the amount of costs that we're running on a customer totally before they before they come in. We're not running any ads.

Nathan Latka

20:29Yeah. Yeah. No. That's fine. So, yeah, when they're just testing it in the beta, they're they're spent... You have to pay about $270 to your video hosting people to support them when they're free, then they convert to paid.

Johnny Boufarhat

20:38Literally. We haven't we haven't had time we haven't had time to negotiate our our contracts or anything. Like, there's this is... You know, by the time this interview is done, everyone... Hopefully, everyone's... You know, I don't know when this is gonna be published or anything like that, but we'd be in a better place. But at this moment, you know, we've been thrown into this because of COVID nineteen.

Nathan Latka

20:38Yep.

Johnny Boufarhat

20:38Complete.

Famous Five rapid-fire questions

Nathan Latka

20:59Alright. Let's wrap up with the famous five. Number one, favorite business book.

Johnny Boufarhat

21:03I would say probably

21:07the lean startup, I'd probably say.

Nathan Latka

21:09Number two, is there a CEO you're following or studying?

Johnny Boufarhat

21:12At the moment, I would say my... I I put it down to two two or three people, but I would say

21:23I'd say I'd say it has to still be Elon Musk. I don't wanna sound like that person, but it's definitely Elon Musk.

Nathan Latka

21:28Alright, Fred. Number three, what's your favorite online tool for building the company?

Johnny Boufarhat

21:32Notion.

Nathan Latka

21:33What tech stack are you built on by by the way?

Johnny Boufarhat

21:36We're built on, at the moment, Ruby on Rails, React, Postgres, Amazon, what you'd pretty much expect from a a startup.

Nathan Latka

21:45A video tech stack is heavy on Amazon too?

Johnny Boufarhat

21:48Yeah.

21:48Yeah.

Nathan Latka

21:49Okay. Number four, how many hours of sleep you're getting every night?

Johnny Boufarhat

21:52At the moment, five and a half.

Nathan Latka

21:54Okay. And situation, married, single, kids?

Johnny Boufarhat

21:57Single.

Nathan Latka

21:58Alright.

Johnny Boufarhat

21:58Sorry. Sorry.

21:59In a relationship, I thought you were married or a thing. She just took a look at me.

Nathan Latka

22:03She's looking at you right across across the table right now going, what do you mean?

Johnny Boufarhat

22:07Ten year relationship. Apologies for that.

Nathan Latka

22:09There you go.

22:10Trick trick question. Alright.

Johnny Boufarhat

22:11But no kids running around.

22:13Yeah. No kids running around.

Nathan Latka

22:14Alright. And how old are you, Johnny?

Johnny Boufarhat

22:16I am 25 years old.

Nathan Latka

22:1725.

22:18Last question. What do you wish your 20 year old self knew?

Johnny Boufarhat

22:22That I... You should probably focus on skills that matter most earlier.

Nathan Latka

22:31Okay. Guys, there we have it. Hopin seeing incredible growth going from 0 to $1,500,000 in ARR over the past, basically, two and a half months as COVID has hit. They help you manage and run online events, raised 7,000,000 back in December because they were seeing an crazy virality rate between people using their free product and those attendees that, you know, use the free product converting into organizers of new events themselves. They're scaling nicely about 30, 40

22:54people hired over the very recent past 38 people today total. They're seeing pretty high churn numbers, but again, that's to be expected when they're growing so fast as well. Currently have a product flow where you put in the Typeform information, you go into a group demo, and then they close from there. $99 a month for each organizer, a 100 free seats per organizer. Johnny, thanks for taking us to the top.

Johnny Boufarhat

23:13Thank you so much.