Business update - January '21

Aditya Rao

tl;dr

We are ramen profitable (just barely at $884 MRR, but living in a small Indian village + only having to pay for a single full time founder expenses helps keep the burn low)!

Churn Stories

Got two logo churns this month

  • COO at Indonesia based SMB fin-tech --> Kaapi got too spammy on Slack channels, employees were bored and no new feedback was coming. They are shifting to Slido https://www.sli.do/
  • CEO at paid marketing campaign optimisation platform --> Shifting back to office, don't think they need Kaapi any more. Asked Kaapi to have more fun contextual questions i.e. flavour of the month

KPIs

  • MRR --> $884 (+ $341)
  • Active teams --> 30 (- 8)
  • Active users --> 678 (+61)
  • Free 30 day trial to paid conversion % --> 17.3%
  • Churned paying teams this month --> 2
  • NPS --> n/a
  • Runway before we need to hit ramen profitability --> all done! We can now pay salaries for one of the founders (other is not full time yet)

Biggest wins

Got our first $100 per month account, and that too an upsell from one of our oldest customers. VP of Engineering used us for few months, then talked to the CEO and onboarded the rest of company too

What’s not working well

  • Don't have a good pipeline of free trial signups - which would mean a bad February for us. Goes back to the same issue as before that we haven't cracked distribution yet.

Plans for next month

  • Give managers ability to sign up completely via web, no Slack needed!

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Business update - February '21

Our first month of gross MRR decrease

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Business update - December '20

Got our first paid churn, ouch!

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