Getting the coin to drop

@MikeMcDerment – Co-Founder and CEONov, 2010

Mike McDermentCo-founder, CEO

Getting the coin to drop

Rethinking online payments

A brief history…• Founded in 2003• Based in Toronto• 3 yrs in parents’

basement• 50 people + expanding• Service culture• $1 Billion in 17 weeks

(took 34 last year)

We believe small business owners love

what they do. We help them focus on it.

The leader in online invoicing

The leader in online invoicing

Over 2,000,000 users since 2004Over 2,000,000 users since 2004

Solo professionals

$19.95/month

Solo professionals

$19.95/month

Design agencies, Law firms

$29.95/month +

$10/month/staff

Design agencies, Law firms

$29.95/month +

$10/month/staff

Recurring revenue businesses

$79.95/month +++

Recurring revenue businesses

$79.95/month +++

The Billing Timeline

PaperPaper

OnlineOnline

What FreshBooks customers say

Getting set up…is a nightmare

The deal breakers for business

• 2.3-5% + transaction fee + monthly = costly

• Setup is painful, so people don’t bother

• Only good for low ticket (< $500) amounts; therefore a huge opportunity in business payments

Parting thoughts…

• Online, mobile, anywhere, anytime• Small businesses operate globally• Now doing $0.50 payments USA with

PayPal• And you can get set up with PayPal

fast• No recourse for charge backs

Getting the coin to drop

Rethinking online payments

Bring em’!

Questions?!!