How Ringostat CEO Oleksandr Maksymeniuk grew Ringostat to $12.5M revenue and 600 customers in 2024.

hello everyone my guest today is Alexander Maxim a nuke in 2004 he started his career in digital marketing from a small ecommerce project in 2010 he joined netpeak one of the biggest digital marketing agencies in the CIS successfully managed more than 40 projects at different levels and then became head of SEO department and started a PPA service from 2013 he focused on Ringo stat call tracking firstly as CEO and now as the C V o Alexander are you ready to take us to the top okay tell us what Ringo stat does and is your revenue model a peer play SAS revenue model its model we do call tracking service and also very its big online PBX service well now we move into make entrant analytics as moving forward from not only call tracking service that that should provide data for entrant analytics okay and what is your revenue today our revenue for the last month was 885 thousand dollars and so it's annualized about 1 million that's great and take me back one year ago what was your growth rate what were you doing a year ago in July 17 I we had 45 so it's 80 percent growth year over year and you go back to July of 16th it will also 80% 80% growth because congratulations on the growth how many customers do you have today we have a 685 active projects and is a project a customer we reach out to our clients based on each project so it's about 600 600 customers that don't leave 685 okay and on average what is a customer pay per month our average customer pay per month is about $115 yep and have you alexander happy bootstrapped this company or did you raise money it fountain in between from raising and wrapping because money provided by companies that I do from net big agency it started as project for clients of net began to agency when I was made making PPA so how much how much money have they given you for now with four hundred thousand four hundred thousand okay so you do you own a hundred percent of the company then not one hundred percent of company my another big share is found about held by founder of net beat our Jung you at folk with him some months ago he's now CEO of syrup start yep are you you're listening to the podcast huh yeah do you like it yeah I like it you have to say that because you're live now if you said no I would stop the interview immediately and say oh we lost him good I'm glad you invited and it's interesting to hear the real figures that companies have and also today just they was listening to podcast of nautical tracking service you had come here say and it's interesting too to make benchmarking yeah we have we've had conversa on call rail call tracking metrics from Todd which is interesting you're in a very hot space when did you launch the company what year [Music] publicly we launched in 2013 before that about one and half year it was closed only for clients of net pick engine see and how many team members today today we have 54 team members where's everybody based we all based in Ukraine some of them in Odessa and some of them in chacas okay very good walk me through some of the unit economics what's your churn rate our Chum rate is about 5% to load the logo churn logo Joe okay Amuro Cheung little less okay that's good what do you spend to acquire a customer about $160 160 so you're with your payback period [Music] when Yasir say it's it's fairly quick huh yeah it's it's great it sounds great for United States but in Ukraine it's not so big spent on marketing and most of this customer acquisition is bonus part for our sales team support team and so so how much per month right now are you spending only on you know paid advertisements on the paid advertisement it's not big it's on the 1000 or something like that so mostly it's your sales team yeah most of this part is sales team its marketing team its sample team because we focused on providing the best support are you booking right now Alexander at raising capital yeah we're looking at looking to raise some capital but not in what we're not in need yep how much do you wanna raise if you do raise capital how much do you want to raise six hundred thousand and would you do that on a convertible note or would you sell equity yeah how would you I guess the reason I'm asking is if you've sold equity what would you value your company at today six million and how do you get to that number it's 1 million annualized revenue and we interested in education yep yeah very good now would you if someone listening right now says wow I really want to buy Alexander's company and they offered you 5 million dollars all cash today to sell it would you sell no you wouldn't sell how old are you 32 okay so if someone paid you five million bucks and let's see you own more than 50% of the company you'd put essentially 2.5 million bucks in your bank account at 32 years old you wouldn't take that deal though no my plans to get I like it are you married yeah I'm would your wife kill you maybe so maybe you would if you told her maybe you would sell if you don't tell her you won't sell right right very good Alexander let's wrap up here with the famous five number one what's your favorite business book maybe yeah maybe it's gold process so I don't remember the name of gold rose gold process it's a king it's okay if you don't remember that's okay we'll go to the next question is there a CEO that you're following or studying I will be not original Elon Musk number either he's great number three is there a fit what is your favorite online tool for building the business my favorite online tools my favorite online tool is Google Spreadsheets and it's not about building business but it's about control and work with figures to find inside and it's great and it has no limitations number four how many hours of sleep to eat every night five okay so call it five and a half and you said you're 32 years old you're married do you have any kids yes how many cool - okay last question what he was your 20 year old self new sound deeper in online online marketing so I spent a lot of time not in life so study online marketing sooner study online marketing sooner and deep inside analytics guys but we know if I would know those amount of information about 12 years ago part related I would guys there you have an analytics online marketing would have learned it easier he launched the company go stat and 2013 to help with call tracking especially for sales teams today they've got 600 customers paying across 685 projects they're doing 85 grand per month in revenue that's almost double from a year ago in August of 2017 where they were at $45,000 per month in revenue they had raised about $400,000 from their parent agency net peak 5% logo turn per month they spent about 160 bucks to acquire a customer and payback periods are always less than two months again their team of 54 based in Ukraine Alexander thank you for taking us to the top