Oct 16, 2023 · 19m · top-founders
How Chaser hit $294K revenue and 3 person team in 2023
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In this episode of Conversations with Nathan Latka, host Nathan Latka interviews Josh Martel, founder of Chaser, exploring the startup's Slack-integrated task delegation tool, early cohort retention metrics, lean capitalization, and product-led growth strategy.
How this conversation actually went
Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 41.6% of the talking time here. How this is scored →
speaking balance: gold is Nathan, purple is the guest (3 minute bins)
Josh rejects Nathan's skepticism and argues that Chaser's deep in-Slack functionality will drive superior engagement compared to simple notification integrations like Trello.
Hardest push from Nathan ▶ 16:49 Nathan rejects product purity distribution thesisNathan directly counters Josh, pointing out that incumbents cross-promote their apps and that relying purely on product quality without distribution arbitrage rarely works for startups.
Biggest teaching moment ▶ 5:24 Josh clarifies cohort retention mathJosh corrects Nathan's assumption by explaining that the 43% retention figure applies strictly to the mature 16-week cohort rather than all 100 signed-up companies.
Nathan holds their own ▶ 5:39 Nathan questions underlying retention incentiveNathan uses his product knowledge to demonstrate that sending tasks is not the true value moment for users, forcing Josh to admit a blind spot in tracking completed tasks.
the scores for every segment, with the reasoning behind each
| Chapter | Topic | Nathan as informed peer | Guest teaching | Guest disagreement | Nathan pushing back | Why |
|---|---|---|---|---|---|---|
| Executive Overview of Chaser's Metrics and Model | 5 | 2 | 1 | 3 | Nathan digs into Josh's career trajectory at Thriver and tests his knowledge on vesting schedules and equity before transitioning to the problem Chaser solves. Josh clearly articulates the product vision and market opportunity without tension. | |
| MVP Traction, Retention Tracking, and Active Usage | 7 | 3 | 2 | 6 | Nathan presses Josh on the validity of his 43% retention metric and challenges whether sending a task is really the key value driver versus task completion. Josh acknowledges the gap in tracking completed tasks and admits they took a shortcut in their analytics. | |
| Acquisition Channels and Pre-Seed Fundraising History | 6 | 2 | 1 | 4 | Nathan investigates Chaser's fundraising terms, clarifying the dilution mechanics on the $100k pre-seed SAFE and ad spend. Josh transparently shares numbers and corrects Nathan on the second check size being $20k rather than $50k. | |
| Team Structure, Equity Allocation, and Monetization Strategy | 5 | 2 | 1 | 3 | Nathan asks about co-founder equity splits and product monetization plans. Josh elaborates on product-led growth lessons learned from procuring software during his time as a director at Thriver. | |
| Marketplace Dynamics and Slack App Directory Ranking | 8 | 3 | 4 | 7 | Nathan strongly challenges Josh's assumption that product quality alone can overcome incumbent dominance on the Slack App Directory popularity algorithm. Josh stands firm on his thesis that daily engagement will help them outrank passive notification extensions like Trello. | |
| The Famous Five Rapid-Fire Questions | 3 | 1 | 1 | 1 | Nathan runs through his standard rapid-fire Famous Five questions. Josh provides straightforward, concise answers with minimal friction. |