How he's going to ask 30 beta users to pay $1k/mo for his Partner Management Software
Feb 13, 2024
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The podcast discusses the launch of bundle tech.io, equity division and financial risks of starting a company, strategies for acquiring beta users, benefits of chat GPT and productivity tool preferences.
Bundle tech.io addresses the challenges of lack of awareness and poor incentives in B2B referral programs.
The pricing model of Bundle tech.io starts at $1,000 per month with the potential to generate significant new business revenue for customers.
Deep dives
Bundle tech.io: A B2B referral software
Bundle tech.io is a B2B referral software designed to help companies improve customer influence and find more efficient ways to grow. The software addresses two main challenges in B2B referral programs: lack of awareness and poor incentives. Many companies are unaware that such referral programs exist, as they are buried in a site map or hidden within email campaigns. Additionally, the incentives offered are often meager, like a discount on subscription fees. Bundle tech.io aims to tackle these issues and offers a unique solution to enhance B2B referral programs.
Company Launch and Beta Customers
Bundle tech.io began development in the middle of last year and officially launched in September. Currently, they have around 30 beta customers, with plans to convert them into paying customers soon. The company prioritizes proving their ability to drive revenue for these early-stage customers before transitioning to a paid model. The pricing model starts at $1,000 per month, with the anticipation of generating significant new business revenue for customers, ranging from 10 to 20 new customers over a 12-month period, resulting in a potential revenue of $250,000.
Team, Funding, and Future Plans
Bundle tech.io is a collaboration between two co-founders, with a team of four engineers focusing on building the software. Initially, two engineers worked part-time but are expected to transition to full-time as the company gains revenue. Funding-wise, the company recently closed a pre-seed round, raising just under a million of their 1.4 million target, giving them a valuation of 7 million. The founders took a deliberate approach to equity, with the technical co-founder receiving 40% and other employees, including engineers, owning 10%. The company plans to continue raising capital strategically and aims to execute its vision and strategy to achieve revenue milestones.