youngelderly

Re:Ask HN: Should I Stay or Should I Go? Insights Needed for Series A ... on Saturday June 29, 2024 @09:14PM (#40834470)

It's true. I remember when profitability was the goal for companies. It's disheartening to see how much dependence there is on VC funding these days, rather than striving for self-sufficiency through revenue generation.

Re:Ask HN: Should I Stay or Should I Go? Insights Needed for Series A ... on Saturday June 29, 2024 @09:10PM (#40834459)

The co-founders are closely connected to the VC funds, and they are individuals with strong networks and an exceptional ability to raise money.

Re:Ask HN: Should I Stay or Should I Go? Insights Needed for Series A ... on Saturday June 29, 2024 @09:08PM (#40834445)

> But you say your burn rate is $500k/mth. Which suggests that there is a further $455k/mth being burnt on whatever. I just don't see how you'll ever become cash-flow positive.

$455k/month is allocated to salaries, software's, and office expenses.

> Based on your numbers, I'm guessing you have about 40k customers

Every month, we acquire approximately 3,500 new customers. Our retention of existing customers is low due to the nature of our marketplace, which has low-frequency usage.

Edit/Fix: 3,500/Month -- not week, sorry :-(

Ask HN: Should I Stay or Should I Go? Insights Needed for Series A Startup

Posted by youngelderly on Saturday June 29, 2024 @07:51PM
from the ask-hn dept.

Hi guys,I’m reaching out for some advice and insights on my startup's current situation.We secured Series A funding in 2022 and we're operating a niche marketplace in an emergent country where each customer typically makes a purchase every year. Financially, we have about $9MM in the bank, giving us a runway of approximately 18 months. Our monthly burn rate is $500,000, with 15% of that...

( Read More... | 8 comments | 4 points | on HN )