Revenue near $10M, mostly ARR
“total revenue wise, we're kind of sitting around the 10,000,000 mark. We're primarily ARR revenue from that. It's kind of about an eightytwenty split.”
Founder conversationGuru $10m+
How Voxpopme Hit $10M in Revenue and Reset Equity for Its New CEO
Voxpopme CEO Andy Barraclough and chairman Lonnie Mayne explain how a $750K, 24-month Founderpath deal came with a board resolution for a new ESOP pool to raise the go-forward team's equity.
Andy Barraclough · Voxpopme
Published October 3, 2024About this resource
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Voxpopme CEO Andy Barraclough and chairman Lonnie Mayne explain how the video research company reached about $10M in revenue and why its board agreed to reset equity for the go-forward team. Nathan Latka describes how a $750K, 24-month Founderpath deal was paired with a board resolution for a new ESOP pool, after diligence showed the key managers held only about eight to 15 percent between them. They also discuss co-founder departures and why they chose Founderpath over other capital.
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Diligence risk: diluted management
“this was the group that you guys said was gonna change the company and drive off future growth and they were already diluted down to like eight to 15 ish percent.”
Funding as a forcing function
“Founderpath can align with management here and use our capital coming as a forcing function to get a board resolution done to reestablish a new ESOP pool”
Motivation is not always equity
“we did something completely different for him that kept him in the seat all the way until, you know, like five six years later when the company started to transition. So I think sometimes what motivates us is not always what we think”
Sizing the deal to a plan
“sat somewhere in the middle because we had a very strategic plan for coming into this next year that we want to be able to utilize those funds for”
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Andy Barraclough
CEO · Voxpopme
- Company revenue
- $10M
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