Missive syncs actions back to email servers unlike larger collaborative solutions
“Whatever you do in Missive, and there's a lot that can happen because it's a collaborative tool, we sync it back to your email servers, which is mostly not the case now with those bigger collaborative solutions.”
Feedback platform Canny was Missive's first customer and remains one today
“I think we found our first customer. Cani, which is still a customer. You know, Cani is like a feedback board that we still use at Missive. And those guys found us through our product on launch.”
Alternative pages targeting Front and Superhuman drove Missive's first $1M ARR
“And that really helped us get to, like, that first million dollar. Like, that one versus page with both superhuman and front probably drove, like, most of our initial customers.”
Walling: 'Alternative to' pages outperform 'versus' pages for unknown SaaS brands
“Versus works better when you are a brand. Like now people are searching for missive, but alternative twos are a big one.”
Lehoux: Email clients are defensible because building one takes so long
“And there's a big bar to entry. I mean, just try to remember how many email client has launched in the last five years that you can remember. It's not a lot. It's just cause it's really long to get something that work. And so for that reason, that made us defe…”
Bootstrapping protects SaaS roadmaps from enterprise-driven feature bloat
“That's the freedom also being bootstrapped. Like, there's a bit less pressure to get to certain milestones, so you don't have that pressure to sign that next big customer to push that feature that you absolutely need. We don't really have that pressure, so it …”
Missive applied to Y Combinator and was rejected before choosing to bootstrap
“Initially we did apply to YC, because for us it was like, oh, that's like, if we ever want to raise money, that's the school to go to, because I don't know, like, I'm from Quebec City, I know nobody that raised money and whatnot, and those, like, didn't work o…”
Claiming disinterest in selling while profitable maximizes acquisition valuations
“I'm always saying like, I'm not interested to sell. Like it's profitable. We're growing. And that's kind of the right playbook anyway, if you want a big number.”
All three Missive co-founders still actively write code at $8M ARR
“So all developers. So we all code still today.”
Missive drives 30% of new user growth via in-house affiliate program
“Till to that day, it drives a lot of revenue. Maybe 30% of the growth now of the new users come from the athlete program.”
Missive targets accountants and lawyers via vertical influencer marketing campaigns
“We did accountant that's working. We're going to do lawyers, and then we're looking for the other ones, but it's kind of really hard because there's so many possibilities that it's more about what type of answer answer in each of those industries and which one…”
Small businesses use AI to build complex custom integrations in Missive
“But now because of AI, we're seeing even like smaller businesses, like twin employees building like really complex custom integration built in Missive with all the different tool in their stack.”
Missive's customer base is so distributed its largest industry segment is 6%
“If you look at the pie chart of the industries using Missiv, I think the biggest pot is, like, six percent So it's like six percent retail, and then it's just like five, six like 5.4, and then goes on.”
Missive and Front Tested Each Other's Shared Inbox Products
“Yes, we are definitely similar. Front is probably the one we are the closest to. And we had some discussions with Front. They tried our product. We tried theirs and there was some inspiration from both sides and we have a good relationship with them, but yeah …”
Mason: Missive remains entirely bootstrapped
“We are still.
Yes.”
Mason: ConferenceBadge.com funded the development of Missive
“Phil had started building my co-founder CEO at Missive. He started building conference badge All by himself back in 2013, and we joined him, and since he started the product, he had more equity, and it's while running and building Conference Badge that we foun…”
Missive reaches close to 2,000 paid customers
“Because we are at close to 2000 paid customers right now.”
Mason: Average Missive business customer pays $100 monthly
“A hundred bucks.”
Mason: Missive's largest customer pays around $50,000 annually
“Oh, it's something like let me just make it times 12, 50 150,000.”
Missive Reached $2M ARR with Only Three Founding Engineers Doing Support
“We actually hired our first employee, like not even a month ago. So everything I'm telling you today is we build it at, we were a tree and then just the three founders. We are all engineers. We are definitely not salespeople. We are engineers and we all do cus…”
Mason: Missive's comparison pages explicitly state product shortcomings to deter poor-fit users
“It's a honest take. When there are some shortcomings in Missive compared to the other product, we do state it clearly, and we don't want to bring users in who won't like Missive and would actually rather use Spark or, like, a more personal-oriented email app.”
Mason: Missive has not received an acquisition offer above $30 million
“No, not higher than that.”
Mason: Heroku enabled Missive to scale with a 3-person team
“It's Heroku, our platform as a service, how we, where we host Missive and all the smaller apps that needed to run Missive behind the scenes. It's just, it's one of the things that allowed us to be only three and managed to grow our tech stack.”
Phil Liu lived on a teen project's ramen profitability for 10 years
“At the co-working space, I was actually making money from, like, a really from a game portal I created when I was a teen, a French game portal I created when I was a teen, and, you know, just, like, ramen money, ramen profitable money, like, a few Ks a year, j…”
Missive generated only about $3,000 in revenue during its first year
“First year of missive was like, ah, I don't know, not a lot of money. Like, I think like three K for the whole year.”
Missive has reached approximately 2,000 business customers
“I think we're around like 2000 businesses using this.”
Missive crossed $1M ARR in early 2021 with just four employees
“So I'd say right now, so we crossed like the one million air are like two months ago.”
Word of mouth sustains Missive's growth with just a four-person team
“The rest is just like it's such a big space that even if it's just word of mouth and we're just a small team that it's really working out actually, because with the word of mouth, it's sustained our growth and we're just four guys and it makes good sense.”
Phil Liu: Missive ignores data and builds based on customer feeling
“We don't look at data. Actually, that's the simple strangest answer. I can like honest answer. It's like, we don't really look at data. It's just the feeling of our customer.”
Universal product churn is healthy if non-target users are the ones leaving
“When you're a company like us, the product is email. Everyone can use email. So there's a lot of people trying the product. And some of those will churn, and that's a good thing, right? Because we cannot be a solution for everyone. So if I only look at churn, …”
Missive spends roughly $20,000 monthly on non-salary expenses, primarily servers
“Well, I break it down because salary, let's say everything else except salary, I would say like, 20 K's, mostly servers.”
Missive rejected three acquisition approaches by tech unicorns
“We had we were approached three times. And buy big let's say unicorns and more.”
Missive rejected an all-equity acquisition offer from a $30M company
“It was equity and an equity. I don't know if it means much, but it was thirty millions in, in valuation from that business, but you had to believe that the equity.”
Phil Liu doubts Missive would accept a $10M all-cash acquisition offer
“I don't think so.”