Jamespot Revenue & Valuation (2024)

hello everyone my guest today is a familiar face allen garnet he is the founder and ceo and serial entrepreneur focused on digital b2b sas products he's president of nonpro the nonprofits e f e l which is software in europe and the hashtag play digital movement he's also a music electro producer and practitioner now building a sas collaborative platform called james spot.com helen you ready to taste the top yeah ready nathan happy to talk with you again me too i feel like the last time you came on my gosh it must have been over two years ago how's the company doing today two years ago our company has changed a lot because we have a lot of growth new customers a lot of change you know in the landscape and you know in the landscape of the collaborative tools that change too yep so in in 2018 when we spoke you were doing about 2.4 million dollars in terms of annual run rate where are you at today so now in turnover we are about four million dollars turnover okay so what does so what does that mean that's mean that we have been 25 percent of growth this year okay about so you're doing about 330 000 a month in revenue yeah it's uh the uh mrr you say revenue monthly revenue recurring yeah it's 330 000. yep okay so that puts you at about a four million dollar run rate and yeah about 25 30 year-over-year growth where did you get the goat from you're in a very competitive space how are you finding customers well you know we are about uh four uh hundred thousand cash users now and this year uh was a special europe because you know of the the crisis of kaved of course and then uh we have huge growth of people wanting to work remotely and then we have for instance a french health agency with 80 000 people getting into genspot so you see it's a huge move we have also bnp banking uh bpi banking so new customers that then we are not used to to to use our software because now they have to because of the crisis and the need to stay home working so how many customers logos are on your platform today uh we've got 250 250 and how many paid seats uh we've got four uh uh for four hundred thousand uh c seats so for four hundred 000 paid seats across 250 businesses you've got some you you have to uh we've got about uh some external that are low price you know because you have the full seat and when you buy a gemspot you have a package of free external people of your company that you can use and then after a number you will pay for the external so the user i say it's the old user we have in all countries and tell us what folks are paying you for well the pain we uh we try to uh [Music] what we do for for organization is uh to help them to have their own remote work like you do in your home as you see i see you in the back and you choose to put photo in your in your in and you choose to to change the way you work where you where you live we do the same for our customers because with genspot they're going to plug a lot of apps so they can work like they are you know we are we have we have this uh modularization of how you work that's what we are very different of other solutions and who would you compare yourself to who are you closest to well in in europe we are close to uh the part of microsoft or 365 you know because in this you find all the things to work with documents communication and chatting and doing you know social network inside uh all those elements that's what we are the close uh uh and workspace of facebook too so we have major big competitors yeah and now eleanor are you still are you still bootstrapped and profitable i love that more than ever and because of of the growth uh we we have the ability of of going faster for instance we open spain this year we've got you know uh uh spain uh it's a new market for us so we are going to to go into europe and that's the the way we develop ourselves yeah we do bootstrapping and so when you how much revenue uh sorry how much profit are you doing per month now oh um i'd say for um paramounts about 40 uh 40 50 dollars i would say 50 000 uh no 40 to 50 40 to 50. sorry no no how much profit are you doing so you're doing 300 330 000 in revenue your amounts it's about this because when i i mean 40 dollars yes 40 000 okay yeah i was asking 40 000 yeah sorry i'm sorry yeah sure 40 would be very short you know too high yeah yeah okay got it and and talk to me about what you've done with the team over the past couple years how many people on the team today so we are 35 people now in the in the team and a lot of engineers of course but not also marketing sales people a lot of csm you know to do a relationship with customers because it needs you know uh it's a change in the market because the more we goes the more we see customers expect that for the price they pay they have people that help them to on board on the on the product easily and make the project fast so we have uh teams to do this uh completely uh inside jansport how many engineers uh how many engineers 15 15. okay any quarter carrying sales reps uh sales reps without a 80 sales reps eight and alan do you do you give them a quota yeah we do what's their what's their quota if i joined your team today what quota would you give me so dakota and you see it is uh lower than in us you will see uh is uh when you it depends of the seniority of the sales uh you start with you know i would say 300 000 years and it goes up and it double when you have four years of experience yeah okay so someone that's just starting you expect them to close 300 thousand dollars a new annual recurring revenue in their first 12 months yep i see interesting and and obviously your space churn is really critical what's your turn your revenue turn over the past 12 months in the past 12 months it was not so much because less than than before because i i think that people need our solutions it's about uh eight or ten percent euro okay and how much expansion revenue do you have uh what is expensive revenue all your upsells so ignore new customer editions but what you upsell old customers exact price for this sorry okay okay that's okay that's okay you told me last time you had five percent churn and 15 expansion for 110 net revenue retention sound like you're still about the same spot yeah because it's it's quickly the same we have uh downsized the churn and the explanation was or more because we have a lot of companies that use the gensport just for communication and because of cavite crisis they use it for home working so it's much more using they have to pay more for apps because you know we have an inside app store in gymspot you buy for perhaps to to make up sell into the so they buy some new apps uh for instance uh visio conferencing or you know meetings and stuff like this that they didn't use before so yeah we have a better upselling this year and and how are you getting customers today what's your cac well cac is about uh uh in i know it in euro i would say in euro so it's about ten uh ten thousand uh bucks okay okay about eight eight uh eight thousand uh euros and where are you spending that money for my price i know we are in euros i have to converse everything for you thank you we appreciate my everyone listening here and i really appreciate that so thank you um where are you spending that money well we spend more money in acquisition digital acquisition so ads google ads of course we buy some paid written because we do a lot of you know production of content ebooks uh what we call you know uh nice figure uh uh uh white papers we do a lot of content work very hard on this to to try to give value to people you know to explain how to launch a project what are the difficulty what are the steps so we we give a lot of contents that's our main expenses and a little this year we buy some tv show in france how much have you spent on tv uh how many money you want yeah money it was not so much it was uh uh in uh ago indoors it was a 30 30 uh thousand birds 30 000 euros yeah it was you know uh in uh in a dedicated tv for business people you know in in france did it work it's called bfm did it work yeah because it make a lot of awareness you know uh that jansport become you know uh a a a trademark that was better known than before so we are going to to do it because uh you know that we have uh to to face to a big giant like microsoft slack and so on so we have to to uh to to get uh our trademark known by people so yeah we need to to do heads yeah now that makes a lot of sense very interesting now when i look at ahrefs um you were spending back in may of 2016 on paid ads across 230 keywords today you're almost running no paid ads um and your inbound organic keywords your traffic is about only fifteen hundred dollars uh sorry fifteen hundred unique clicks sort of per month well i was gonna say i'm curious so this might just be because it's only in a certain region so are you running most your ads targeting only europe yeah we do okay we stop we stop to to uh to to focus uh us because it's it's it's useless we don't sell to u.s people we sell to europe people we sell to uh north people to african canada indonesia brazil but not us because u.s is also you know a competitive market and so yeah we do we don't spend any any ads into us for sure yeah okay that makes sense very good well this is great i'm glad to see that you're growing any plans to raise capital not yet all right we're still going you know like this and because uh for for life for next year i i hope i'm going to to be more than 5 million turnover for for next year all right so yeah if you know if we work hard and even with the crisis yeah and because of the team and because it's not only me it's all the team behind me at the gym spot you know it's a it's a great team i i like to work with my colleagues so it's a it's a for me you know it's my third company it's more human story that is so wonderful in this market and and to change the way the people work that's a great you know story for us because we see companies changing the way they work so it's uh it's quite amazing and very exciting for us yeah well we're rooting for you we're out of time so quick answers here on the famous five allen number one what's your favorite business book oh my it's uh always and always from good to great number two is there a ceo you're following or studying i i i i said the ceo of slack is pretty impressive number three seven billion dollars yeah so much that'll be that'll be that'll be you soon you one day number three what's your favorite online tool for building jamespot my online tool yep no i would say it's uh it's by drive you know it's the the crm we use by bribe very good number four how many hours of sleep do you eat every night sorry how many how many hours of sleep do you get every night oh seven and what's your situation married single kids i was diverse i am i have a good new life and you know what a new child that is three years old so i've got big child that are you know adults how many kids three now three wow and how old are you oh yes i'm 50. oh i would have guessed i was going to guess 43. all right 50. i win seven years it's okay all right last question alan what's something you wish you knew when you were 20 well i wish you know uh peace and and uh uh or and for all the world and all crises of coffee will be you know fade away guys there you have it james spot competing in the team management space internal hr tool sort of space right for helping teams stay on the same track with each other participating mainly competing in europe they just broke a four million dollar run rate up from 3.2 million a year ago 25 year-over-year growth bootstrapped profiting 40 dollars per month in revenue 250 customers 35 on the team 15 engineers they've got eight sales reps that start off at a 300 000 per year quota 110 net revenue retention and an 11 000 cac for under 12 month payback period as ellen continues to scale alan thanks for checking us the top thank you from paris and see you one more thing before you go we have a brand new show every thursday at 1 pm central it's called shark tank for sas 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 1 pm central additionally remember these recorded founder interviews go live we release them here on youtube every day at 2 p.m 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 sas world whether it's an acquisition a big 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 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