Good letter, too many staff. This is basic SaaS. Other than a phone line sales team and a dev team in Ukraine or Sri Lanka should this be able to operate out of a hut in Broken Hill? That said, $7m is reasonable market cap for this so if eyeballs appears you can sell ads
Wouldn't this make more money as a FreeMium product just selling ads? PinchMe is pulling $10m revenue from its 4million "members" with market cap of $60m, selling ads to eyeballs.
Why would I pay money for something that I can have for free from Facebook. Our family just has a private group. We aren't all Michael Jordan or Oprah trying to protect images of our kids. Your audience of 35 million families aren't that protective. Good god I understand my grandchildren each have about 400,000 photos of themselves on snapchat or instagram....and thats just selfies.
From September
3rd
Good letter, too many staff. This is basic SaaS. Other than a...
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