Friedberg says WeatherBill targets $6 billion revenue opportunity with 50%+ close rates on farmers.
“Our product costs $40 an acre. There is $6,000,000,000 of revenue we are going after and our close rate is very, very high.”
Friedberg quantifies WeatherBill's addressable market at $6 billion from 160 million acres at $40 per acre.
“There is 160,000,000 acres of corn and soybeans planted just in the Midwest Of The United States. Our product costs $40 an acre. There is $6,000,000,000 of revenue we are going after”
Friedberg raised exactly $2.2 million from friends and network connections to start WeatherBill after VCs rejected him.
“I raised, like, $2,200,000 from friends and, like, networking to other people that Danny had introduced me and that my friends introduced me to.”
Friedberg launched WeatherBill in January 2007 and faced constant rejection at trade shows trying to sell it.
“I launched the thing in January of o seven, and I'm going to conferences and trade shows trying to sell the product, and everyone's saying no.”