<aside> 🔥 If you don't send monthly updates you're going out of business. NO UPDATES = NOT GOING WELL
</aside>
Hello,
It has been a busy time. We have been working to close our first major license with IBM, which will get us to cash flow break-even, and we have exchanged a final draft of the agreement this week. Morale is high as we work to get the license done, and we just hired a new senior developer to manage the integration of the license, bringing our tech team to 5 full-time employees.
Gartner just published research that the market for our server technology will grow to $1 billion within five years, and our closest competitor just raised a small seed round of $1.2 MM. After closing our seed round in December, the company has 12 months of runway with our full hiring plan, and we can cut back the hiring to survive 18 months if the IBM license fails to close. If you know anyone in the server business at IBM, please send us their Linkedin profile so that we may reach out to help close the licensing deal.
[PERFORMANCE]
We have accelerated Product, which has come at the cost of slowing down our traction until the IBM deal closes.
1 to 5 Performance Ratings:
< 2 (4 Last) - Runway
5 (4 Last) - Team
4 (2 Last) - Product
= 4 (4 Last) - Traction
= 0 (0 Last) - Fundraising
[ECONOMICS]
As a result of industry players hearing about the potential IBM deal, the number of New Licensing Leads that we are attracting per week has doubled since the beginning of the month.
New Licensing Leads per Week:
53 (202 Active Leads, > 12% Leads in Closing Phase) - Week 1
= 42 (163 Active Leads, = 08% Leads in Closing Phase) - Week 2
41 (135 Active Leads, > 09% Leads in Closing Phase) - Week 3
22 (123 Active Leads, = 06% Leads in Closing Phase) - Week 4