Co-founders funded Veed with half their day-job salaries
“We still, even at that point, took half of our salaries every month religiously, put it back into the company account, And then use that money to hire two other engineers who would build for us”
Veed reached 30,000 monthly users in nine months
“We went from, like, zero users to 30,000 monthly users in, like, nine months.”
Veed acquired 20 paid users over a weekend after YC rejection
“Bang on, nine a.m. Monday morning, we sent them an email like, hey guys, thank you so much for your feedback, we implemented it,
We've got 20 paid users, would you reconsider?”
Keynejad: Veed is generating about $1.5M in ARR
“We did a one million ARR. Yeah we're about one and a half now.”
Keynejad: Co-founders must split equity 50-50 to stay fully incentivized
“That's not the right way to do it. If you're doing it that way, then you shouldn't be your co-founder. I mean, like, come on. So you split fifty-fifty. I mean, like, you're going to be doing this for years, hopefully. You're going to make a really big company.…”
Keynejad: Veed Is Putting Away Approximately 30% of Revenue
“Three, four months ago, our runway was zero and we'd spend everything we would on, you know, growth and putting it back into the company. Now we're probably putting away about 30%.”
Veed founders paid themselves $2,000 monthly until hitting $1M ARR
“We were paying ourselves about 2000 dollars a month until, I mean, even to the million, I think when we hit a million ARR, we paid ourselves more than 2000 dollars a month.”
Keynejad: Veed has just under 5,500 paying customers
“5000, just under 5500.”
Keynejad: Veed receives about 10,000 website visitors daily
“I mean, I know how many people, you know, we've got about 10,000 people hit the site every day.”
Keynejad: Veed adds 60 to 80 new paying customers daily
“We did we did 80 yesterday, which is good. Anywhere between like 60 to 80 today, something like that.”
Keynejad: Veed has raised zero outside capital
“No, we haven't raised any money.”
Keynejad: Veed can reach $10M ARR efficiently within two years
“I see a very comfortable, like I kind of see a decent path for the next couple of years to get to the ten million ARR and I think there's a very good possibility we're going to get there and we're going to get there relatively efficiently.”
Keynejad: Venture capital would not accelerate Veed's current growth rate
“Capital's not going to make us grow any faster right now. I can't see that happening.”
Keynejad: Veed has high monthly customer churn of roughly 13%
“Churn is about 13%, so, you know, much higher than a normal SaaS company, should we say.”
Keynejad: Veed retains about 30% of users after one year
“No, we retain about 30%. So the people that first joined a year ago, we got about 30% of that first cohort still on.”
Keynejad: Veed has done zero paid marketing for growth
“No, we haven't done any paid.”
Keynejad: Veed's YouTube tutorials capture Google's position zero featured snippets
“We're getting the number zero spot on Google with it.”