Walling: Angel invested in Customer.io, Churn Buster, RightMessage, CartHook, LeadFuze
“I pointed out customer.io. I'm an investor in, angel investor, churn buster, right message, cart hook, lead fuse, all of these folks who are like, yeah, we're not looking at IPO.”
Dunn: RightMessage ARPU is about $100 per month
“Well, our ARPU is about a hundred bucks a month, but plans start at 30, and we have people paying in a few hundreds a month.”
Dunn: RightMessage reached ~$8k MRR one week after launch
“And then we did a big launch kind of info product style when we went live sold annual plans that got us, I think to about eight K MR or thereabouts pretty much a week into it.”
Dunn: RightMessage launch sales came 100% from email list
“No affiliates. Yeah. It was a hundred percent in the list.”
RightMessage raised $500k from Nathan Barry, Ankur Nagpal, and Paul Singh
“We raised about a half a million from people like Nathan Berry of ConvertKit anchor of Teachable Paul Sing and others just friends of mine, frankly, who wanted to fund us.”
RightMessage reaches $30k MRR and generates $10k monthly profit
“Our total MRR at the moment is 30 K a month. Our, I mean, we're basically, our expenses are probably 20 K. So yeah, we're bringing about a 10 K a month profit.”
RightMessage has just under 300 customers
“Just shy of 300.”
Dunn: Website personalization cannot succeed without customer segmentation
“The big turn issue for us was we were selling personalization software. People bought into it, but you can't personalize without segmentation. So a lot of these companies came on board and they realized they didn't have the data that they needed to accurately …”
Dunn: RightMessage recorded 16% revenue churn over past year
“I mean, bare metrics is saying over the last year, revenue turned 16%.”
RightMessage has zero direct customer acquisition spend
“We haven't spent a dime on any hard costs like acquisition costs.”
RightMessage operates with no salespeople across a three-person team
“I mean, we don't, so we aren't in terms of sales, we don't have any sales people. It's just myself, co-founder, and we have a part-time designer.”
Dunn: RightMessage has not yet hit true product-market fit
“I wouldn't say that we've hit product market fit in the sense that we have a really good way, a compelling way, Of showing somebody why they should switch from, say, Sumo or OptiMonster or whoever to us.”
Dunn: RightMessage will not raise capital or scale headcount yet
“We wouldn't raise money at this point or scale the team at this point because I think we're so right now we're so individually working together with our current customer base base and subscriber base to figure out Positioning wise, are we in the right place or…”
Dunn: RightMessage has roughly $50k remaining of $500k raised
“We've burned through a good about, we have about 50 left.”
Dunn: RightMessage churn is driven by customer education, not disbelief
“We know why we're churning. It's an education problem. We've asked people, we've talked to people, and what we're being told again and again is we completely, 100% believe in The outcome that you're promising us, but we need help on the strategic side.”
Dunn: RightMessage would probably turn down a $700k cash buyout
“Probably not, to be honest.”
RightMessage's ARPU is $144 per month
“Average ARPU is 144 at the moment.”
RightMessage reached $20k MRR three and a half months after launch
“Yeah, we launched in January. We're at, we're just about 20,000 MRR. So in about Three and a half months.”
RightMessage's revenue is growing 30% to 40% month-over-month
“We're growing 30, 40% a month now and happy with it.”
RightMessage's monthly user churn is about 5%
“Churn right now is about five percent.”
RightMessage raised $500k from integration partners including ConvertKit and Leadpages
“No, we raised half a million. So we raised from early customers along with, Some of the companies we integrate with, like ConvertKit, Leadpages, Drip, and so on.”
Brennan Dunn owns 50% of RightMessage with co-founder Shai
“I know I own half the company. I have a co-founder who's the technical co-founder, Shai.”
RightMessage raised its early round in one week without a pitch deck
“It was back in October and it only took, it took about a week. No pitch checker. They were all friends of mine, so I just really emailed them and did it that way.”
RightMessage plans to stay profitable and avoid a Series A round
“Profitable out of the gate. So we're not looking to jump from the different to series A or anything like that.”
Teachable founder Ankur Nagpal convinced RightMessage to raise venture capital
“We were going to bootstrap, but our first customer was Teachable, and Anker reached out saying, I want the product faster. Can you raise some money and build a team on it?”