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Update #4 – November 2022

Sign up for monthly investor updates. Every month, Carry Founder, Ankur Nagpal, sends this public list the (almost identical) update sent to our stakeholders. Sign up to receive the next update.

Update #4 – November 2022

Yoooo —

November was fuego. Tbh, it kind of had to be since we’re launching on December 8 so anything short of a very good November would have left us in a deep hole. But the team is absolutely crushing rn

And drumroll… we’re no longer pre-revenue. It took us ~2.5 months from starting up to first dollar, which we can feel pretty pretty good about

Though candidly, if we were not building a product tied to the calendar tax year, I would have ~loved~ to take longer to polish everything and ship a meatier product.

But alas, here we are: 7 days to go

Metrics

(These are all customers for the Solo401k product)
Revenue: ~$3,300 (cash basis)
MRR: $282
Customers: 17

November Updates

Lots of things happening in parallel, been frenetic:

  • Our entire founding team is now in place – welcoming Amol who joins us as a full-stack developer, and Jaiya on social and brand. We’re now 10, and I don’t anticipate hiring anyone for at least a quarter.
  • We have a minimal Solo401k product that’s good to go – it allows someone to spin up a new Solo401k and make an election for how much they want to contribute for the tax year. This needs to be completed by December 31st to get a tax deduction this year. We are not handling money and investments yet, but expect that to be a fast follow once we get past this launch.
  • We manually onboarded 17 customers – and hope to have the entire flow be self-serve by Monday. We should launch with around 25-30 customers manually onboarded.
  • We have been working on a new marketing site to replace my handmade Webflow monstrosity, and expect to push that live by Monday. Also have a free course on Retirement Accounts for Business Owners dropping then.
  • We started recording the first of three paid courses for our education product, and expect that to launch the last week of January.

What’s Happening This Month

  • We’re launching in a week, baby! December 8 – save the date. Our product becomes self-serve, we’ll have launch press as well as a ProductHunt launch. We’re terrified and excited, lfg.
  • If we survive, we’re having a launch party on December 9th in Brooklyn – if we know each other and you wanna come, lmk and I’ll send you an invite!
  • Continuing to take small checks from value-add investors. However: we are not announcing any fundraising as part of this launch.

How You Can Help

  • Nothing today, but I will email you in exactly one week to ask for your help to amplify our launch. You have zero obligation to help btw, only if you feel so inclined.

Reminder: What We Do

Carry helps business owners (creators, consultants, freelancers, independent workers) build wealth. The first product we are launching on December 8 is a Solo401k retirement account. The second product is a membership site to educate business owners on personal finance. Our manifesto.

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Talk to you in a week fam

Ankur