Running the figures
After an extraordinary introduction and overview of the way the item works, the sharks dig to the monetary information on the dating application.
- Month-to-month users: Between 100,000 and 500,000 users
- Yearly product sales: $87,000 a year ago; $270,000 in very very first five months of present 12 months
- Projected annual product sales: $1 million for present 12 months; ten dollars million for the following year
- Client purchase price (CAC): $0.30 cents
- Profit percentage: negative
The siblings will not expose a number that is exact seventhday adventist singles of users, that they claim is actually for competitive reasons, however they are maddeningly obscure with this point. They claim it clearly doesnвЂ™t that it gives a good idea of user base, but. After duplicated grilling through the sharks, Mark Cuban falls down on concept. вЂњIвЂ™m away. You need to offer us that, have you been kidding? IвЂ™m away,вЂќ he claims. The sisters seem unruffled, and carry on fielding concerns.
Since it works out, their income are negative вЂ“ meaning they arenвЂ™t making any revenue presently. That they had to pay a huge sum of money upfront, mostly on salaries to pay for their web designers. Which includes paying by themselves a $100,000 salary each. The sharks appear incredulous as of this quantity.
вЂњThat is still a substantial pay cut from that which we had been making prior,вЂќ says Dawoon, to which Robert reacts with rollicking, mocking laughter.
The siblings have actually raised $2.8 million in outside money up to now, with one investor that is notable among the co-founders of Match.com, whom enjoyed their concept. Continue reading