ScrapingBee achieved an eight-figure cash exit while mostly bootstrapped
“Kevin's co-founder Pierre appeared on this very podcast just a few months ago, talking about being mostly bootstrapped to their eight-figure cash exit.”
ScrapingBee reached $2M in revenue with just two founders and no employees
“They were at two million with two, two co-founders, zero employees.”
DeWulf: ScrapingBee sold at peak growth to avoid an eventual slowdown
“Scraping really was in very good position to be sold in terms of revenue, growth, and all, and we didn't want to wait for the growth to slow or to even decrease before selling it.”
ScrapingBee grew from $8K MRR to $1M ARR in 15 months
“And then my memory was even after I have some notes here from producer Ron that after a year, after the tiny seed year, you were only at about eight K MRR, but then 15 months after that, you were at a million ARR.”
DeWulf: Hire developers who write, not writers who code
“So first we started looking for developers who wanted to write and not for writers who knew a bit how to code. So with that in mind, we're able to have writers who were really in terms of Technology, like technologically very top notch, you know, they knew eve…”
DeWulf: ScrapingBee became the web's second-biggest scraping blog with 3-4 posts/month
“And so we're not Publishing a lot of content, you know, only three to four blog posts per month, I think, which is way less than what some companies are able to do, but it was sufficient to be, yeah, at some point, I think we were the second biggest web sweepi…”
DeWulf: ScrapingBee never touched its funding due to rapid organic growth
“We had only, I don't know, 15 K in the bank when we received it. We were lucky enough because growth meant we haven't actually touched it.”
DeWulf: Commodity SaaS products cannot ignore competitor pricing to win customers
“I think it's just, I mean, for us, it was completely wrong. I mean, you cannot just ignore it, especially in our market, we're, yeah, commodity products. So you need to be, you need to have a sexy pricing table if you want people to at least give you a chance.”
DeWulf: A Big Tech cease-and-desist halted our first acquisition process
“And then we just received, we received a big, frightening cease and desist from one of the five biggest tech companies in the world. Of course, everyone got frightened about it. We had to abort the sales process.”
DeWulf: Oxylabs acquired ScrapingBee in an all-cash deal
“So this was very what seduced us, and it was also a full cash offer, which was the best for us.”
DeWulf: Two previous ScrapingBee acquisitions fell through before the final exit
“We almost sold the business two times. So, one time season desist, but the time before, we were two weeks before closing the business, and we actually received an email from the acquirer telling us, hey, we need to talk, and boom, they no longer wanted to rais…”
Walling: ScrapingBee crossed $1M ARR in late 2021
“So they crossed a million dollars in annual recurring just two, three months ago”
Walling: ScrapingBee grew from $40k to over $500k ARR
“Scraping Bee was at 40 K ARR when they applied, or I don't know if it's when they applied or the batch started, but now they're at north of 500,000 dollars ARR”