Read on Twitter
A quick story about Lemonade... the stock $LMND
My last company was in the property management software space.
We evaluated different companies to help us provide renter's insurance to our PM clients' renters.
$LMND was deemed the best vendor but the most expensive.
[Thread]
![A quick story about Lemonade... the stock $LMNDMy last company was in the property management software space.We evaluated different companies to help us provide renter's insurance to our PM clients' renters. $LMND was deemed the best vendor but the most expensive.[Thread]](https://pbs.twimg.com/media/EclGFnfXoAIfWKy.png "A quick story about Lemonade... the stock $LMNDMy last company was in the property management software space.We evaluated different companies to help us provide renter's insurance to our PM clients' renters. $LMND was deemed the best vendor but the most expensive.[Thread]")
My last company was in the property management software space.
We evaluated different companies to help us provide renter's insurance to our PM clients' renters.
$LMND was deemed the best vendor but the most expensive.
[Thread]
So we went with another vendor.
That vendor is crap.
Horrible reputation, customer service, and terrible technical integration.
Long story short it took 6 months and at least $1 million in development to deliver the project.
That vendor is crap.
Horrible reputation, customer service, and terrible technical integration.
Long story short it took 6 months and at least $1 million in development to deliver the project.
Had we gone with $LMND we would have saved at least 4 months of work.
$LMND is exciting to as an investor because it is effectively $TWLO for insurance.
They cut down integration cost both up front and down the line which is why they're more expensive than other vendors...
$LMND is exciting to as an investor because it is effectively $TWLO for insurance.
They cut down integration cost both up front and down the line which is why they're more expensive than other vendors...
As any software person knows, time saved is worth a lot of money.
In our case the opportunity cost of using the other vendor was over $1 million because we couldn't sell earlier AND there were high support and technical costs that we had to take on.
In our case the opportunity cost of using the other vendor was over $1 million because we couldn't sell earlier AND there were high support and technical costs that we had to take on.
As an investor, this is what I'm looking for.
Huge greenfield market (in this case insurance as a service)
Solutions that may cost more up front, but are well worth it for a project's ROI.
Developer evangelists who spread the good word freely.
Huge greenfield market (in this case insurance as a service)
Solutions that may cost more up front, but are well worth it for a project's ROI.
Developer evangelists who spread the good word freely.
I will probably be a buyer after 6 months or so to let prices settle down, let lock-up periods to expire, and establish some public financial history.
I'd love to know your thoughts and experiences as well!
I'd love to know your thoughts and experiences as well!
Forgot to mention that I'll be using them in my next startup too...
