Business update - November '20

Business update - November '20

Crossed $500 MRR. Yay!

tl;dr

After the lows of Oct, this was a good month. The focus on selling to startup CXOs directly and building Kaapi for them is working. They make fast decisions and "get it". The next phase of our journey will be finding a repeatable and predictable distribution channel for Kaapi.

KPIs

  • MRR --> $517 (+ $163)
  • Active teams --> 50 (+ 3)
  • Active users --> 729 (+ 103)
  • Free 30 day trial to paid conversion % --> 8.1% (loads of low quality installs from the PH launch)
  • Churned paying teams --> 0
  • NPS --> n/a
  • Runway before we need to hit ramen profitability - April 2021 (+1)

Biggest wins

Got our first upsell! One of the oldest users upgraded their pricing plan.

What’s not working well

  • Unable to find a repeatable distribution channel. In theory, it shouldn't be difficult to find startup CEOs!

Plans for next month

  • Stop the small iterative features, and focus on getting out of Slack dependency. Launch the web app!

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Business update - March '21

Flat revenue growth; almost the same MRR as last month

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Business update - February '21

Our first month of gross MRR decrease

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Business update - January '21

We are ramen profitable now!

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