How K Looks CEO Alexandre Abu-Jamra grew K Looks to $1M revenue and 50 customers in 2024.

guys klook.com dobr was launched back in 2021 2022 he broke 500,000 bucks of Revenue in 2023 cleaning a Brazilian financial data and selling it to Big firms like Captivate IQ and Bloomberg which many of you guys might actually you know listening might actually pay for directly some of that data is provided by these groups like KX he has specific OCR technology with his seven Engineers but then it's the human layer on top of that where they clean the data sort it filter it make sure and check for accuracy before they sell it off to the End Market uh that really is their secret lost 50% of his Revenue today and they'll do about a million dollars this year 50% of that is data as a service another 30% is pure services and then 20% is true software as a service completely bootstrap selling through two major resellers in Brazil That's neoway and TTR data uh where he takes a cut of the sales there if he goes direct he's selling for 300 to 400 bucks per month and has over 50 customers to date hey folks if we haven't met yet my name is Nathan ladka I launched and sold my first software company back in 2015 and went on on to write a book about it which you guys made a Wall Street Journal bestseller purchasing over 30,000 copies thank you so much for that after the book I launched this show and went went on to create founder path.com I raised a large fund to do non-dilutive deals with B2B software Founders so far we've invested in over 400 software Founders totaling $150 million here in 2024 we're doing three to four New Deals per week so if you're looking for Capital and don't want to give up Equity go sign up at founder path.com for free to get your offer all right let's jump into the interview hey folks my guest today is Alex abujamra he is a former m&a adviser in manufacturing CFO today he's a CEO and founder of K looks he graduated in business and administration sumacum L and again is now building this tool which helps structure unstructured financial data and sell it in a SAS Das model that's software as a service data as a service model Alex you ready to take us to the top hello guys great pleasure to talk to you again yeah we appreciate it we had you back on back in January of 2023 about a year ago at that point uh your Revenue was about 60% data as a service 20% software as a service uh and then 20% just pure Services what's the revenue mixed today what are you selling uh right now we are on around 50% of that of the data of service um 30% on on service itself and 20% on on S but everything has grown from there uh We've we had some interesting uh uh growth last year kind of 50% growth and this year we are we are probably reaching uh $1 million in revenues that's great so targeting a million in Revenue this year what did you end last year at uh it was kind of 800,000 yeah that was it that's great now who are you selling this data as a Service uh data too is it Banks and financial institutions yes uh actually originally um the the data we would sell to other intelligence platforms so we would sell to Bloomberg to Capital yq uh mood's analytics so these guys would get our data which is like financial data of private Brazilian companies and just put under products under on their sess uh and that's that was our original Revenue model um and well um after a while we started selling it to Banks as well so that's our Rush right now to to put our data directly into into Banks and not only in intelligence platforms um that that's part of our our priorities at the moment is capital IQ still paying you today are they still a customer sure yeah yeah yeah and what are they paying you for is it specifically I know you specialize in uh financial statements from private companies in Brazil are they paying you for all your Brazil company data that's right um they they are paying to have uh financial data of private Brazilian companies that we crawl in the web and and if your data is really valuable to somebody like Bloomberg or Capital IQ eventually don't they want to come buy you so that you don't sell your data to all their competitors as well they might but I don't think that that's uh a enough at the moment um I mean it's Brazil is a is a is a small uh Target for them it's not like well I'm the only one who has data of private American companies and that's a huge um uh competitive Advantage um it's braz is kind of a marginal Market to them so um I'm not sure if that that's something that would make sense at the moment maybe uh uh once we reach like five to 10 million Dollar in revenues that might uh make sense because our process is really unique uh it's been proven uh uh operationally and and in in Practical so uh um and financially has been growing uh but as soon as we escalate enough I think that that might be something they might look into because these guys they have uh their their thresholds for for m&a they're quite higher than our our size right now yeah that makes sense how many customers are paying you today oh directly might be 50 or 60 and indirectly might be 500 600 give me an example of an indirect customer um so I sell my data to CQ and to all these guys but I have some clients that they don't pay me for my data but they integrate in their product and they sell my module so these guys uh they have like 100 clients uh they use my module so that's the indirect indirect customer can you give an example of one of those companies where your module is built in sure um there's some guys in Brazil called nway um NE e o w a y uh they're quite big in the Big Data uh environment here and well they they resell our data in a in a module uh inside their product so if neoway in Brazil sells your module the Kook mod module for 100 bucks a month to end users how much of that $100 will you keep versus what neay will keep uh well when they distribute me they I I keep less than when I sell it directly obviously so I have I have large quantities but I don't have the uh um the value per customer that I would have selling directly but I don't have any any c as well I don't have any CA of acquisition uh of customers um so uh I would I would sell directly for roughly $300 to $400 monthly and they would sell me to like $100 monthly so same question though if neoway sells your module for a 100 bucks a month to an end customer what percent of that Revenue will neoway keep versus what will they pay you oh no that's what I would give they would sell it for a little bit more and then we we split it how do you contractually make sure that your value added resellers like neay don't uh cannibalize your own direct sales by decreasing your module price point inside of their Channel super low yeah it's an awesome question really good and the the the answer is well I don't I'm not sure about it uh I I don't have a way to make sure that they don't cannibalize it's more of a um um empirical conclusion like well um I think it's not cannibalizing I'm not getting any feedbacks that that indicate that that's happening and how we conclude it I see how many value added resellers like neoway uh drive you customers every month uh we have new way and another one uh called TTR okay so just two two big value added resellers that's right I see and T it's TTR domcom uh is TTR record.com I think it's transactional track records the the um um they originally sell data of uh transactions like uh abda uh EV abda multiples that that was their their primary business but they integrated out solution um and they are focused in Emerging Markets such as Brazil and uh other South American countries is it TTR dat.com uh let me check fairly I'm fairly certain it's ttrd dat.com but you can tell me if I'm wrong there um so those two channels do a lot of a lot of your reselling is that TTR yeah yeah so they do a lot of reselling you also go direct um H tell me more about your process I'm always fascinated because you know the whole world I mean maybe not the whole world but anyone potentially can get access right to uh uh private company financials in Brazil I imagine because they have to file something on some public domain but you have some unique process you use to get to the data to transform it to clean it to then spit it back out so that these Partners can sort of use it what did I just say that's not accurate or is all that pretty much true no that's pretty much true the the but the the thing that makes us unique is um the data is really hard to find so um it there are some sources that are easy to find but most of the sources are hard to find and we're the only ones that are investing heavily on on crawlers uh to to hard to hard to find sources and when I mean hard to find sources is not like oh it's a website that have everything structured and um and then it's just like a bot that goes there and gets the data and no it's it's it's a complete mess because the hard to find places is like uh thousands of different uh uh files that you don't know if that's a financial statement or if it's not so we have our Bots need to find out if it is a financial statement statement or not those files are in PDF format so um the data is unstructured so we need to to have other Bots that...