4.6 • 683 Ratings
🗓️ 12 December 2018
⏱️ 14 minutes
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Victor Levitin took his ecommerce company to $4.5m rev and took Crazylister to $1.5m ARR by making online selling 10x easier for retailers.
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0:00.0 | Founded the company in 2015 Crazy Lister. Again, started with the eBay niche now expanding, |
0:05.0 | helping with pricing optimization and things like that. 4,600 customers paying 33 bucks a month, |
0:09.6 | 150 grand in monthly recurring revenue. That's up from 75 grand just a year ago. So over 100% |
0:15.0 | year-over-year growth. They've raised $1.2 million, the last tranche being $600 on a convertible |
0:19.7 | note at a $9 million cap. They're now |
0:21.6 | raising 3 million at 30 million pre-money valuation. That's what he's going for. He feels confident |
0:26.1 | about it because economics makes sense. 4% churn. That's logo churn per month gross. $100 |
0:31.3 | cap. So they're getting paid back in under three months. Lifetime value, 25 months around |
0:35.7 | a grand in LTV there. His team of 20 based around the world. |
0:40.5 | This is the top entrepreneurs podcast where founders share how they started their companies and |
0:46.8 | got filthy rich or crash and burn. |
0:51.8 | Each episode features revenue numbers, customer counts, and other insider information |
0:58.0 | that creates business news headlines. We went from a couple hundred thousand dollars to |
1:03.3 | $2.7 million. They had no money when I started the company. It was $160 million, |
1:08.0 | which is the size of any IPOs. We're a bit strapped. We have like 22,000 customers. |
1:14.7 | With over 5 million downloads in a very short amount of time, |
1:18.9 | major outlets like Inc are calling us the fastest growing business show on iTunes. |
1:23.8 | I'm your host, Nathan Latka, and here's today's episode. |
1:27.9 | Hello, everyone. My guest today is Victor Levittin. He took an e-commerce company to 4.5 million |
1:32.5 | in revenue, and he felt the pains of online selling directly. He then took his current company |
1:37.4 | Crazy Lister to $1.5 million in AR, making online selling way easier for retailers. We'll jump |
1:43.1 | into it today. Victor, are you ready to |
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