InvoiceOwl reached 1,000 paying customers before its acquisition
Jil Patel · Startup Acquisition Stories With Jeel Patel, Founder of InvoiceOwl · Jun 3, 2024 · at 9:12
Jeel Patel, founder of InvoiceOwl, discusses the platform's user base and paying customer metrics prior to selling the company on Acquire.com.
0:00 / 0:07exact quote · 7.7s
720p mp4 · rendered on demand · StarZero watermark
“So if you count the number of users, it was like, 13,000 plus users. But like, customers, customers would be in like, thousand or something range.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Jil Patel
Patel: Selling founders should prioritize transaction process efficiency over highest price
“People usually, when it comes to acquisitions, mergers, anything, they try to focus on substance, which is, like, amount, or, like, dollars, or, like, how, how can I get the highest bid from buyer? But I think, The process is more important. So the author is t…”
Patel: Comparison, alternative, and review pages are core SaaS inbound channels
“I think for any SaaS business, like this is the lesson I learned is like comparison pages, alternative pages, review pages. Like if you have these three pages nailed out, And then I think you are getting your major like inbound channel is like right there.”
InvoiceOwl started its SEO strategy six months before building an MVP
“We didn't have the product. He started the SEO six months before we had even the MVP, like before even we started working on the MVP, we had started the SEO six months before that.”
Jeel Patel's Upper Route Planner has reached $500,000 in ARR
“Already doing great on it. We are at like half a million dollars in ERR.”
Jeel Patel turned a $500 affiliate site into a five-figure buyout
“Going back to when I was 19, I started learning SEO through an affiliate site called Tomfw.com and started that site with 500 dollars, and within one year got a five-figure acquisition offer”
Patel: M&A diligence targets minor technical setups over high-level architecture
“From, like, even if you're not planning to sell, just have, like, a documentation, which is just, like, in smallest things, like, how you set up a mix panel, how you set up, like, your database, and et cetera, and not just the bigger pieces, because people usu…”