CrewPay Whatupdate No. 45
Hello, crew.
Team Accomplishments & News
- No updates
Product Accomplishments & News
- Product update from Matt: Slides
Sales, Marketing & Customer Success Accomplishments & News
- Media outreach for “free through June”
Revenue & New Client
- 31 transactions last week (199YTD)
- $35k sent last week ( $331K YTD)
- 3 new companies, 23 new contractors
- 13 active companies (16 total)
- 34 active contractors (143 total)
- Totals:
- WoW Contractor Growth: +26.5%
- MRR: $161
- ARR: $1932
- MRPC: $12.38
Closing Thoughts
Last week, the US saw over 3 million people file for unemployment benefits. This is a pretty staggering number. The previous “one week high” was less than 700k (during the 2008 recession).
Many of those people will turn to freelancing and pick up independent contractor gigs, often from the companies that laid them off.
I think we’ll see a pretty significant rise of 1099s coming out of this time.
That’s why CrewPay is important, to serve the companies that hire 1099s and the contractors looking for a platform that makes them feel safe.
I know our generosity is fueling some of this but last week, we saw the highest week over week (WoW) growth of contractors in a while. It was over 26% in fact.
If we maintained half of that growth rate, we’d have 612 contractors on CrewPay in 12 weeks.
Let’s find the opportunities in the volatility and come out of this time, positioned to win.
Have a great week.
Ever,
David