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  "documentTitle": "2019 Bond Cap Internet Trends 2019",
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  "authorName": "Mary Meeker",
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      "text": "LTV/CAC Ratio: 3.7x",
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      "text": "..we really want to get customers to test our product... It's really hard to get customers to try Zoom without a freemium product... We make our freemium product work so well... If they like our product, very soon they are going to pay for the subscription. The most important thing is to make sure the existing customer [is] happy rather than chasing after new prospects. Our NPS is in the 67-69 range vs. our peers in the 20's... We do not want to spend money on [the] marketing side to generate leads.",
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      "text": "We really want to get customers to test our product... It's really hard to get customers to try Zoom without a freemium product... We make our freemium product work so well... If they like our product, very soon they are going to pay for the subscription. — Eric Yuan, Founder / CEO, Zoom, 8/17",
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      "text": "Source: Interview with SaaStr (8/17). Zoom S-1. Goldman Sachs Investment Research estimates of LTV & CAC. Note: *Goldman Sachs Investment Research calculated LTV as the value of $1 of Annual Recurring Revenue, discounted for GAAP gross margin, Goldman Sachs Investment Research estimated Gross Churn & an 11% assumed discount rate. CAC is calculated as the amount of Sales & Marketing expense in a relevant period, divided by the gross new Annual Recurring Revenue added in the same period.",
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      "text": "...Happy Customers... Zoom = Free User Conversion to Paid Subscribers",
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