Istaysafecorp Revenue & Funding (2022)

[00:00] Hey, folks. My guest today is Karen Cantwell. She's somebody that constantly innovates. And in 2012, she started iStaySafe with a mission to design a personal safety watch for children. I was gonna say kids, for for children. This led to the launch of TicTocTrack in 2014, one of the first kids smart watches in the world. Karen, are you ready to take us to the top? [00:18] >> Sounds great. [00:19] Alright. So is this pure SaaS or is it SaaS plus hardware plus consumer? What's the mix? [00:23] >> So it's pretty much SaaS plus hardware. So we do both. [00:26] Interesting. Okay. So tell me about the hardware. Can you show it to us? Do you have the hardware today? [00:30] >> Yes. Sure. I'll grab one. [00:35] >> So we have two devices at the moment. We've got a 3G, which is a small kids watch. We also use it for elderly. We also use it for domestic and family violence lone workers. So we've got quite a few verticals that we operate in. It's basically small, lightweight. It has an SOS duress function on it. It's Hold it [00:59] >> up close to the camera. [01:00] It's like an Apple Watch, basically. [01:03] >> Yeah. So it can just look like a sports watch. It has a magnetic charging clip on the back. So we do that. We also have a phone application which has a remote Bluetooth button that is just like a button on your key ring, like a key finder. And so if you don't want to wear a watch, you just want to use your phone as a duress alarm, then the button remotely activates an SOS in the event [01:27] >> of an emergency. We have two different solutions there for personal safety. [01:33] Interesting. Okay. So that device you just showed me, what does that cost? [01:37] >> So this one costs around $200 Australian for the hardware. And then you're looking at around $15 to $20 a month for the SaaS and the SIM and the use of the platform. [01:52] Is it $15 a month per watch? [01:55] >> Yes. Yeah. [01:56] I see. And so when you say the cost is 200, is that what you charge people or is that what it costs you to make? [02:01] >> No. That's what we charge people. [02:03] What does it cost you to make? Do you make margin there? [02:05] >> Yeah. So we... It costs us probably around... The new one that's coming out is a little bit cheaper to make than the previous one we had because we just changed manufacturers. But it it costs us probably around between 60 to $80 Australian landed. [02:19] Okay. Wow. Got it. So 200 retail, 80 cost. So you can make $120 per watch sold, something like that. Yeah. Okay. Interesting. When did you sell your first watch? What year? [02:29] >> 2014. [02:31] '20? Okay. So that was your effective launch date or were you working on coding before that? [02:35] >> So we started the business in 2012. It took probably about eighteen months to find a manufacturer, design a solution because back then, kids wearables just weren't a thing. Like, there was no one doing it. So it took me a while to find someone to manufacture. And then we coded the software, designed the features, designed the hardware, put it all together and launched in 2014. [02:58] Wow. Okay. So now you're scaling. How many watches are out there in the public now today? [03:03] >> So we got thousands out in the public. I mean, we've sold thousands over the years. We currently have probably about two and a half to 3,000 subscribers live at the moment. About 20% of our business is now business to consumer whereas previously when we started, it was all business to consumer whereas now we're more B2B because we've really moved into more of a reseller market in the last probably two years. So probably about 80% of our [03:29] >> business is through resellers and the rest is B2C. [03:32] Okay. A lot to unpack there. So let's... Let me let me do resellers first. 80% is through resellers. So if a reseller sells one of your $200 watches and sells a $15 month subscription, what do you pay them in an affiliate cut? [03:44] >> Right. So with the resellers, we operate a slightly different model. With the resellers, we will sell the watch to them at about $150 wholesale. We make less. We make probably about $70 a watch on the reseller price. Then they put their own markup on. Sometimes we will sell at 200 retail because for consumers we try and keep the price down low. They might sell at different markets, have different pricing structures because they pay slightly different prices. [04:13] >> But that's obviously up to the retailer what they charge for that. [04:16] What about the software? [04:17] >> The software with the SaaS, for the resellers, they pay around $11 a month. So we still make probably about three, four dollars, per month on the SaaS and then they put their mark up on top of that. [04:32] 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 [04:55] 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 [05:19] 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 [05:41] 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 [06:07] 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 [06:29] 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 [06:55] the interview. Got it. You sell them $11. They pay you $11 a month for the SaaS. You're making $11 per watch they sell monthly recurring. [07:04] >> Yes. [07:04] Oh, okay. Interesting. So 2,500 out there today across your value added resellers plus your direct to consumer at $15 a pop. Right? What... So you're doing $37,000 a month right now in revenue? [07:15] >> Yeah. So we're probably around 30 in revenue at the month because we've... With the phone app, it's slightly cheaper because there's no SIM card with the phone app so that brings the average monthly revenue per month down slightly. [07:27] Okay. [07:28] >> Because the phone app, you're only paying $6 or $7 a month for a retail customer because there's no SIM Okay. [07:34] And if you're at $30,000 today, where were you a year ago? Do you remember? [07:38] >> A year ago? I don't remember a year ago. I know probably 2019 because we did an acquisition about a year ago and that increased MRR. But prior to that, we were probably at around 15, 16. We probably doubled since we did that acquisition. [07:55] Okay. We first interviewed, I don't know if you remember this, back in 2018. Wow. And you said revenue back then was around $20,000 a month. So that's four years later, you've added $10,000 in MRR. I would say that feels like really slow growth. Why aren't you growing faster? [08:13] >> There's been a couple of reasons for us. I mean, resources we've always been really small. We're pretty much [08:20] Are you bootstrapped? [08:22] >> Yeah, pretty much. We have had investment. We've definitely had some good investment but it costs a lot obviously to develop the hardware. Unfortunately in Australia, the networks have been shutting down. They'll shut down a network like the 2G network, just after we launched and then we had to invest in redoing hardware. Now they're shutting down the 3G network so we're having to reinvest in hardware. A lot of our cash has gone into hardware development, which [08:48] >> has really limited our ability to scale. Australia is quite a small market too. We haven't been able to go overseas just yet so that's something obviously we're looking at doing. And then obviously COVID hit in 2020 so we invested in an acquisition which we did at the end of twenty nineteen and then COVID hit. That slowed sales in our B2C market. So really last year we spent a lot of our time pivoting and moving more into [09:14] >> the B2B market because our B2C customers really dropped off. I think there's been a number of factors that have impacted the growth. [09:22] How much total though, Karen, have you raised? [09:24] >> About 1.6. [09:26] When was the last fundraise? [09:30] >> 2018. [09:31] Okay. So so between 2012 and 2018, you raised 1,600,000 total? Yeah. Got it. And and investors own what? Like 20% of business or more? [09:42] >> So the investors probably own at the moment. [09:48] >> We've got investors that own probably about 60% of [09:52] >> Would you do anything differently looking back? [09:55] That's a lot for investors to own. [09:58] >> I think looking back, obviously I didn't come from a tech background and when I started this business in 2012, I had never raised capital before. In doing things differently, I certainly would structure things slightly differently. I would scale much quicker in the early days when the product was really new but I think because I didn't have a lot of resources, it was just basically me. I think I was reluctant to take some of those risks because [10:23] >> I hadn't done it before. I think what I've learned in the last five or six years would be I would probably take more risk early on and scale quicker early on to really capitalize on some of those sales I could have done earlier. [10:35] How much equity do you still own today? [10:37] >> 20%. [10:38] Okay. So who owns the other 20%? [10:41] >> My sister, my parents, so family, friends, and then an angel investor that has been with me since the beginning who's amazing. So... [10:50] Do you get along with your sister and parents? [10:52] >> Yes. Yeah. My sister works in the with me. Yeah. Yeah. My sister works in the business with me and my my parents, like, we're really close. There's only there's only four... Me and my sister in the family. So [11:02] Okay. I'm gonna be I'm gonna be brutally honest with you. You guys have learned so much between twenty twelve and today. Like, a crazy amount. This thing is, like, not growing. So, like, when do you get the courage to shut it down, move on, take all these learnings and launch in your next thing, which is gonna grow much faster and you're going to own more equity because you've learned so much. [11:21] >> Yeah. Mean, that's a really good point. And I mean, for the last six months, that's what we've been looking at. So at the moment, we're looking at it like a strategic exit because we have like 30 — we have $30,000, obviously, in recurring revenue, so it's not nothing. And we have... I sort of feel like I have an obligation to the subscribers to make sure that they're looked after because we're in personal safety. It's not just a [11:41] >> widget you can kinda switch So we're talking about people's lives here. [11:45] Is it your asset though the... I mean, getting a physical piece of hardware in penetration in Australian market, 2,500, to me that's a major accomplishment. Can you push software updates to a piece of hardware? Can those be updated? [11:57] >> Yes. We can do firmware updates to change the features. A lot of what we've done with the software though is a lot of the features are on the software platform which makes it really easy for us to update. The software platform is device agnostic and we own that. It monitors not only watches but phones and other devices. So that's I guess the unique piece about us is that our software is device agnostic whereas most of the [12:21] >> software out there for these type of wearables is linked just to that one wearable. So that allows it to transfer a little better to another business. That's what we're looking for at the moment. We're just looking for strategic acquirers so that we can move our subscribers onto maybe a bigger business that just wants to increase their subscribers by a few brands, move into a different market potentially. They're trying to get into the Australian market. We've got [12:45] >> integrations with leading security companies so they monitor the devices 24/7 and can dispatch the police or emergency services where required. For another security company, this would be a good strategic acquisition where they want to move into the Australian market and that's already done for them. So that's kind of what we're looking at doing at the moment. [13:03] Isn't the challenge priced though? You've already raised $1,600,000 to build a company that's doing $360,000 a year in revenue. It's gonna be hard to find a company willing to pay a 5x multiple just to return money back to the investors. How do you get out from under that? [13:16] >> Yeah, sure. So I mean, the focus at the moment is releasing 4G. We already have probably about 300 pre orders that we're looking at for the 3G so we've got people waiting on the new device coming out and that will significantly increase our subscriber base. We expect that by this time next year we'll probably be doing just over around 54,000 MRR with the subscribers that will increase from the release of the new hardware. There's [13:44] >> a really good runway for someone coming in. We had an acquisition offer last year that was 2.8 times total revenue. Turnover last year was just over 700,000 with the hardware as well as the MRR and the SaaS. [13:59] >> So I think we can probably realize a 2 to $3,000,000 exit potentially. I forgot about that. [14:06] You have a lot of margin on hardware sales. So, 500 watches times $200 a pop is $100,000 and you're making what, $60,000 in hardware... Margin on hardware Yeah. [14:16] >> So, we turned over a little over 700,000 last financial year. [14:21] I see. That's a little more real. That's a little... Hardware sales won't get the same multiple software, but it's a little more realistic to find someone that would offer you $2, $3, $4, $5,000,000. [14:30] >> Yeah. Yeah. So that's kind of what we're looking at. We're not we're not looking to to make like ridiculous amounts of money. We're really realistic about it. I just think for us, it it... It's it's a really good solid business for someone that already has an existing company in this kind of space that's looking to increase their subscribers or potentially move into new markets. [14:50] Plus isn't churn like zero? Once you buy a watch, you're not going to stop paying for the software. Right? [14:55] >> No. I mean, we probably have a life cycle of about eighteen months on the hardware. So the watches, some will go about eighteen months before they either turn it over, get a new one or change. But that's why we bought the mobile device out because when people grow out of the watch, they can then go onto the mobile device. So it gives us that continuity of customer contact and the SaaS. [15:16] I see. Very cool. What's your team size today? How many people? [15:20] >> So we just went through a restructure last year from seven. We're down to two at the moment while we restructure and scale and we're trying to build things back up again. So there's only two of us in the business at the moment, but we look to increase that over the next twelve months. [15:32] Sounds like you're ready to be acquired. [15:35] >> Let's hope so. [15:36] Alright. Let's wrap up Karen with the famous five. Number one, favorite book. [15:40] >> Woah. That's a tough one. I've been reading some books at the moment about... I can't... Like, there's a... I can't even think what I'm reading at the moment. [15:52] We can skip that one. Number two, there a CEO you're following or studying? [15:57] >> I've been actually studying, mean I know it's really obvious like Richard Branson looking at some of the things he's done with regards to growing his business because he's started some really from small interesting things and then growing things. I've kind of been following him a bit lately. [16:12] Number three, what's your favorite online tool for scaling your business? [16:16] >> Founderpath. [16:17] Are you loving it? You're having fun? [16:21] >> And I'm not just saying that because I'm on a podcast with you. Honestly, if it was something else, would be honest and say no. But the tool is really, really good, especially for a small startup. It really kind of consolidates all the information in one and I find it incredibly helpful to be able to pull metrics together that are really valuable for the business. So... [16:39] As your score increases, you're about to unlock some some cool new products. That's... We've sort of gamified But no. We love having you on it, I'm glad you're enjoying it. Number four, how many hours of sleep do get every night? [16:49] >> I used... I still get about six to eight hours of sleep. [16:52] Okay. And what's your situation? Married, single, kiddos? [16:55] >> Married, two kids, 15 and 10, boys. [16:58] Wow. And Karen, can I ask how old are you? [17:00] >> 49. [17:01] 49. Last [17:02] >> Yeah. Just turned 49. [17:04] Congrats. [17:05] >> Last question, something you wish you knew when you were 20. [17:10] >> How to scale a business? [17:13] Guys, there you have it. IStaySafe launched in 2012. They raised $1,600,000 to build a watch that helps first responders or folks that are collecting loans that might be in danger to quickly call the police or first responders. Amazing technology. Over 2,500 devices in the world today. They sell the devices for $200. They make about $120 per device sold. Here's the catch, they then sell a $15 a month software component on the backside of that. Really smart [17:36] combination of SaaS plus hardware to drive net retention rates through the roof, doing about $700,000 a year right now in combined hardware plus SaaS revenue as they look to scale or be acquired. We'll see. Karen, thanks for taking us to the top. [17:48] >> Thank you. Lovely talking to you, Nathan. Take care. [17:52] One more thing before you go. We 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 [18:17] Central. 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 [18:39] fundraise, 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 [19:01] up 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. 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. [19:21] We got to push them away. Click the thumbs up below to counter them and know that I appreciate your guys'support. Alright, I'll be in the comments. See you.

hello everybody my guest today is karen cantwell she was a born innovator in 2014 she launched tic launched tick-tock track the first gps smartwatch globally for children followed up with a bespoke software monitoring platform that platform now hosts multiple gps devices providing one platform for the safety of everybody in your family shields an mba from q-u-t karen are you ready to take us to the top yeah for sure i'd love it to be talking to you okay so tell us about i stay safe what's the company do specifically and are you a hardware company or a pure place sas company so we're pretty much a little bit of both uh when we first started in 2012 with tic toc track it was primarily to have a hardware solution for children to keep them safe by the watch um but then we realized that we could help so many more people through a um a software solution that integrated other gps devices to keep people safe so um so then we kind of over the last two or three years has sort of pivoted into more of a software slash hardware company and we operate via a sas business model okay and what is the company ticktacktrack.com.a you or kind of the istaysafecorp.com so i stay safecorp.com.uuuuuu is it's i stay safe as a company and i stay safe really focuses on the software as a service solution um tiktoktrack was our primary product that we actually launched to market in 2014 which was a child safety watch which one is pure assassin the first one the first one okay so let's focus on that for the rest of the interview just for the sake of clarity even though understanding your first success came in the form of this tick tock track concept so for before i stay safe you know help me understand when people pay for the service what are they getting uh and and um and what do they pay on average per month so basically i stay safe is a software platform now that integrates multiple tracking devices so when someone pays a service fee they're um adding a device or a hardware piece to keep someone in the family safe so um if they're adding a mobile phone to track their um the adult child or their loved one then that they're looking at sort of around 3.50 a month for the service to add it to our platform and receive all the features if they're adding a tip-top track watch for one of the younger children then um the service starts at around 12 a month because there's a sim card in the watch that we provide as well so um it ranges from about twelve dollars up including the sim so what i mean just because i don't want to go down every product skew and every customer cohort on average when someone signs up with you are they paying 12. around six dollars a month six session okay so maybe it's like you know two of the things or one tick tock top and then one three dollar thing yeah okay great depending on who you want to keep safe and the family is what sort of device you add to track via our software platform yep yep and when did you launch the company what year so we started the company in 2012 launched our first solution in 2014. that's great now the early days are obviously really tricky how do you support yourself those first two years um so i had a um an advertising agency that i um that i owned so that was my first business so i basically ran that um to provide an income while i was getting um i stay safe up off the ground and just work from home that's great now over the you know obviously you're going through all the trenches making it happen now four years later what have you scaled two in terms of sorry i guess it's yeah it's four years how many customers have you scaled to so um we've mainly focused on australia to sort of get it right here before we go globally so um we've got over a thousand subscribers on our database at the moment um and they're in every state in territory across australia and we're now just starting to look at the global market that's great i mean that's wonderful karen congratulations i want to talk more about how you got those customers first and and why just australia first i think there's probably some lessons there can i take that thousand times that six dollar price point you're doing about six grand a month right now yeah so with the majority of our customers were probably selling on the tick tock track watch too so at the moment our average um recurring revenue was around 20 grand a month oh wonderful okay great when we scale it would be on average around six dollars a month but at the moment we're doing around 20 months you're saying so moving forward the average you think is going to settle out more towards six but currently it's too tall um yeah but at the moment our primary um product is the watch which is the higher price point per month that's great okay good so about 20 grand a month today and taking back a year so in december of 2017 how much were you doing a month um probably around 11. okay good so you've about doubled year over year how are you getting all these customers that's impressive a thousand um so i think mainly a lot of it's been word of mouth we have um um disabilities and um autism community where that's been really strong support for us in helping kids in that area um we've done a lot of publicity a lot of pr and um we've done a little bit tv advertising as well to really um to grow our brand um nationally so when you look at all these kind of paid efforts in order to get a new kind of 12 or 20 a month customer what do you pay typically to get that customer yeah it's probably around three or four dollars per customer okay and most that's tv ads and that would be our biggest expense but the majority of our advertising is online social through facebook um instagram twitter um we do a lot of facebook advertising um we do probably maybe one to two tv campaigns a year okay but we don't do that on a regular basis it's too expensive yep yeah what does that mean what does a tv campaign cost well in australia we probably spend between 100 and 150 000 for each campaign and what is that like a 30 second spot so that'll be a 30 to 50 a combination of 15 to 30 second spots probably over about a six week period there might be one or two weeks there where we're not on on television but um just over a six-week flooded period it's probably yeah okay 100-150 and have you bootstrapped the company or raised we've raised okay so i started off um purely just myself um began with just investments um from friends and family to small investments to actually get the product to market and the solution to market in 2014 and then um took on an angel investor um in november 2015. okay so how much total have you raised uh 1.6 million okay got it and and was that pretty easy to raise that in australia i don't know what the funding market's like down there no it wasn't easy you're like it was definitely not easy yeah i was really fortunate when i started because i mean the um investment market here in australia certainly over the last three years has really kicked up a notch like it wasn't like that when i started um so i was really fortunate i had super supportive friends and family um but in the last few years i think there's there's been more of a focus but it's still i think we're still probably a little risk-averse here in australia in terms of supporting new tech there's still that kind of desire to wait until it's proven before we invest um i'm fortunate that the angel investor i got was introduced to me through a friend and he's just just the most amazing mentor and investor you could have like he's super supportive and doesn't put any pressure on um so if you can get an investor like that i mean it's it's huge yep are you cash flow positive today are still burning money we're still um we're still not quite break even um but we're we're debt-free and we we have money in the bank so i love that debt free is great so when you say you're burning i mean are we talking like a grand a month or like 20 grand a month we're probably we're probably burning about 10 grand a month at the moment that's mainly through staff um salaries obviously yeah because i i had to i physically couldn't handle it all myself so i had to put on some stuff we've still only got 3.4 um full-time equivalents so there's still not a lot of us in the business wait karen how do you work out three point four you have a fourth of a human or four four nine like a part-timer and a casual and so you out of pull around you kind of make the equivalent welcome to the company we're cutting you in half we only want half of you okay yeah so four full-time people three three to four full-time people yeah yeah that's great and where's everyone based so pretty much most of us are based here in brisbane but then we have one staff member in cairns north queensland um she went on maternity leave working for us and then wanted to come back to the company but her partner had been transferred there so we set up a remote office so she could keep working for us well that's great what about churn um in terms of staff yeah no no sorry churn in terms of you someone signs up for 12 a month customer do they stick with you what's turn like generally um our customers will stay with us between 12 to 18 months we've still got some customers that will um that have been with us for the four years and they've gone through various iterations of devices and added different devices but um generally 12 to 18 months is the life cycle of the customer okay so you're churning about seven percent of customers per month or maybe like 80-ish or 85 per year yeah yeah around five to seven a month yeah yeah and why are they i mean this sounds like something that like once people install it they should have won it all the time they're keeping their kids safe why are people churning i think um the child grows up so um that's why we added the other devices to the platform because we were finding the younger children were using the watch and then when they grew up and started getting a phone the parents were like well we don't need to service anymore so now that we have iphones and androids on the platform they continue with us as a customer but that was only released in april this year so we're yet to see that the impact of that in terms of the chant i see interesting very good karen let's wrap up here with the famous five number one what's your favorite business book that's a tough one i think some anything by fern harness is really good yeah rockefeller habits is a good one yeah anything like rockefeller's is a good one that yeah that would probably be one up there in the top number two is there a ceo you're following or studying um i'm just at the moment i'm following the ceo vodafone group in the uk nick reed because sim cards are a huge part of our solution so i've sort of been following what he's been doing just look out for a partnership with him number three what billing tool do you use we use zero okay number four how many how many hours of sleep to get every night around five to six okay so not horrible and what's your situation married single kiddos married two kids two boys eleven and seven oh and do you mind asking how old you are forty five forty five last question karen what do you wish your twenty year old self knew um but you could actually be successful doing what you wanted to do because i don't think i really believe that that was possible back then guys you can be successful doing what you love she launched i stay safe corp which basically helps you keep your family members safe now over a thousand members paying to keep their members safe uh 20 bucks a month an hour doing about 20 grand per month today uh that's up from 11 grand a month just about a year ago so healthy growth burning about 10 grand per month but they've raised about 1.6 million bucks from a nice angel down in brisbane in australia four people full time again all down there in brisbane about 85 percent logo churn per year that's why they're adding new products to basically tie up and and expand more of the product cycle spending caught between uh two and four bucks to acquire one of these new customers so quick payback period karen thank you for taking us to the top thank you very much for having me have a great day