Events are more popular than ever today. Whether you’re looking to facilitate networking, build team cohesion, or foster learning within your industry, events can be a powerful way to develop your brand and connect with individuals.
MeetApp is a platform built to help event organizers better engage their attendees through custom mobile applications. Using their software, participants can access relevant information, messages and interaction all from their mobile phones.
How much is MeetApp doing in ARR?
MeetApp is a software company that charges it’s customers on both a one-off and subscription basis. Recurring subscriptions make up around 70% of their monthly revenue, with the average customer paying between $400 and $500 each month.
According to CEO Mats Backlund, MeetApp is doing around $100k in monthly revenue at this point in time with $70k coming directly from recurring subscriptions. The business has doubled revenue year over year and is on track to grow 70% in 2019.
What is MeetApp’s churn?
For the most part, MeetApp has built a sticky product and is exhibiting annual logo churn of between 10% and 15% right now. With expansion revenue factored in, the company has net revenue retention north of 100% at this point in time.
New customer acquisition largely comes through organic website traffic and paid digital advertising today. MeetApp spends around $2,500 to land a new customer and receives payback in between 5 and 6 months.
How much has MeetApp raised?
MeetApp is a completely bootstrapped entity. Launched in 2011, Backlund waited until the company hit around $100k in MRR prior to going all-in on the business in 2014.
MeetApp’s team of 18 employees is spread between Stockholm, the U.S., and India.