Quabbly Technologies Inc. Revenue, Valuation & Funding (2021)

Quabbly was generating approximately $3,000 per month in revenue as of October 2021, equivalent to $36,000 in annualized recurring revenue. That figure was derived by host Nathan Latka from the company's 30 customers, each with an average of five seats paying $20 per user per month, and was confirmed by David Ogbonna-Eze during the interview.

Quabbly had approximately 30 paying customers as of October 2021. Customers span venture capital firms, agency banking and financial services companies, and manufacturing businesses. The average account had five seats, yielding an estimated 150 total seats across the customer base.

The platform is priced at $20 per user per month on its most expensive plan, with pricing structured on a per-user basis. The average contract value per account was approximately $100 per month, reflecting the five-seat average. Ogbonna-Eze described the pricing as intentionally simple given the company's early stage. No free tier was mentioned in the interview.

Quabbly generates revenue through a per-user, per-month subscription model. At $20 per user per month and an average of five seats per account, the average monthly contract value per customer was approximately $100. Across 30 customers, that produced roughly $3,000 per month in revenue at the time of the interview.

The company's monthly headcount expense was approximately $7,000, against monthly revenue of $3,000, indicating the business was operating at a loss at the time of the interview. Profitability was not explicitly discussed. Software engineers based in Nigeria cost approximately $1,000 per month, and Ogbonna-Eze noted that some team members earned less than that amount given local purchasing power differences. CAC was not quantified; Ogbonna-Eze acknowledged the company had not yet scaled its paid advertising channel and could not provide a CAC figure. Gross margin, churn rate beyond the early-tester cohort, LTV, and burn rate beyond headcount were not discussed in the interview.

Quabbly had approximately 20 people on its team as of October 2021, the majority of whom were engineers based in Lagos, Nigeria. A smaller portion of the team was based in Canada. Monthly headcount expense across the full team was approximately $7,000, with software engineers in Nigeria costing roughly $1,000 per month each.