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SaaS Interviews with CEOs, Startups, Founders

1168 Social Media For Lawyers Doubles YOY to $1.5m ARR, Raising $1m?

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 5 October 2018

⏱️ 20 minutes

🧾️ Download transcript

Summary

Adrian Dayton is the Founder of ClearView Social and author of two books on social media for lawyers. His software is being used by over 20,000 professionals including 25 of the 100 largest law firms in the United States.

Transcript

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0:00.0

Double down on the business books from Adrian. Clearview Social. It's social media for lawyers.

0:04.5

He got fired back in 2013 from his law firm. He was going, he had to go all in.

0:08.8

You know, his wife wasn't working at a little child and he's going, what do I do? Well, he starts

0:12.3

selling consulting to legal firms on Twitter. He raised 300 grand, hired an appointment scheduler,

0:17.4

would go charge $7,500 per day, realized quickly professional services

0:21.0

doesn't scale, said let me build a SaaS platform. He's now up to about 11 people, mostly in

0:27.6

Buffalo, New York, building out their software. They were doing about $75 grand per month, 12, 13 months

0:32.2

going December 2016 today. They're over $1.5 million in ARR. That's over 125 grand per month.

0:37.5

So healthy growth.

0:38.6

Churn is about 1 to 2% per month in terms of logo churn.

0:42.0

7% gross revenue churn annually.

0:44.4

CAC is 3 grand, so they're getting paid back in about four months from these customers.

0:48.3

147 of them that pay on average 9 grand per year or 750 per month.

0:52.5

This is the top entrepreneurs podcast where founders share how they started their companies

0:58.4

and got filthy rich or crash and burn.

1:03.7

Each episode features revenue numbers, customer counts, and other insider information

1:09.5

that creates business news headlines.

1:13.1

We went from a couple hundred thousand dollars to 2.7 million.

1:16.3

I had no money when I started the company.

1:18.3

It was $160 million, which is the size of any IPOs.

1:21.6

We're a bit strapped.

1:22.6

We have like 22,000 customers.

...

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