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Kenny

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’19’20’21’22’23’24’25’263
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  • Fact1 · 33%
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Most quoted in
#0MFM Demo Day: 5 Startups Pitch Sam & Shaan and Raise $1.7M3×

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Guest appearances

1 episodes
—MFM Demo Day: 5 Startups Pitch Sam & Shaan and Raise $1.7MJun 09, 2022

Key numbers

1 figure
$4.2MGroup airfare sold Jan-AprilEP 0 · 15:45 · KENNY

In the moments

3 linked receipts
Number

Backerai: $4.2M of group airfare sold in four months at 10-15% margin

Kenny of Backerai, an online marketplace for group airfare (flights of 10+), reports selling $4.2M of group airfare from January to April, taking 10-15% margin, ~$1,700 revenue per group, across 40 corporate customers.

$4.2M
Group airfare sold Jan-April · USD
“As a business model, we make between 10 and 15% margin on flights. And from January to April, we've done $4.2 million worth of total sales. We take about $1,700 in revenue per, per group and have 40 corporate customers that are using the platform today.”
MFM Demo Day: 5 Startups Pitch Sam & Sh… · Jun 2022 · 15:45 · KENNY
Read at 15:45
mfmindex.com№ 0000-945
Fact

Group travel is $130B a year, 5% of all airline revenue, still booked by phone

Per Backerai, roughly $130 billion of group travel is spent annually, about 5% of an airline's revenue, with ~225 million passengers flying as part of a group pre-pandemic, almost all booked offline over the phone.

“it's about $130 billion worth of just total group spend. Um, and that equates to about 5% of an airline's revenue. So floating around about 225 million passengers fly as part of a group. Um, pre-pandemic.”
MFM Demo Day: 5 Startups Pitch Sam & Sh… · Jun 2022 · 21:04 · KENNY
Read at 21:04
mfmindex.com№ 0000-1264
Tactic

Set your valuation at projected annual revenue times 10

Backerai's founder explains his $15M cap: take projected year-end revenue (~$1.5-1.6M) and multiply by 10. A common quick heuristic founders use to justify a round size.

“So through the end of the year, we should make about $1.5, $1.6 million in revenue. And so we just took that top line number and times it by 10 to kind of be safe. Now there's been crazy stuff happening, but we want to be set up for success and fair. Um, so we just times it by 10.”
MFM Demo Day: 5 Startups Pitch Sam & Sh… · Jun 2022 · 24:52 · KENNY
Read at 24:52
mfmindex.com№ 0000-1492