Insight
Kothari: Founders should generate demand through content before building a product
“Demand generation trumps product or ideas anytime. So even if you had nothing, just freaking start a blog about it, and then think about building a product after that.”
Insight
Kothari: Selling professional services is a valid way to find product-market fit
“And more importantly, it helps with product market fit. Because if someone's willing to pay you for something, That tells you they're serious. Yeah. Yep. And even, even if it's not recurring, it's, you, you're getting something that other people are not, you k…”
Assertion Not checkable as stated
Kothari: Tallyfy leveraged its AppSumo deal to land four enterprise customers
“There's been four enterprise customers that bought an AppSumo deal. And they just said, I don't care about the AppSumo, just talk to my IT guy, we'll talk enterprise.”
Insight
Kothari: Only build feature requests for users with proven active engagement
“The second thing is Mixpanel is used to measure engagement. Like, do you actually log in or are you just saying, I want this feature? If you build it, I'll use it. So if you say that, we say, no, thanks. You're not even using it.”
Assertion Not checkable as stated
Kothari: Tallyfy generates $4k to $8k in monthly recurring revenue
“If I had to guesstimate all these questions, I would average, I would say average right now we're doing is four to eight MRR.”
Assertion Not checkable as stated
Kothari: Tallyfy generated 3,000 signups in two weeks via an AppSumo deal
“Yeah, at least between, it's between two and 3000 signups just in the last two weeks.”
Disclosure
Kothari: Tallyfy aims to reach $100K MRR to raise a Series A
“Well, I hope to do a series eight next year. So accordingly, we need to get to something like a hundred or more in, in 12 to 18 months from now.”
Assertion Not checkable as stated
Kothari: Tallyfy grew from zero to $600,000 in cumulative revenue by mid-2016
“In the first year, 2014, there was no revenue because we were building products. Second year, last year, we filed 300 K. Okay. In revenue. And so far, you know, this year, we've totaled something like 600 K. So since inception, we've totaled 600 K or so, let's…”
Assertion Not checkable as stated
Kothari: $270,000 of Tallyfy's $300,000 annual revenue came from professional services
“Yeah.”
Assertion Supported
Kothari: Tallyfy has raised about $500k in total funding
“Then it's about half a million.”
Disclosure
Kothari: Co-founding spouses use a strict 6 PM cutoff to preserve marriage
“So we have a rule, it's called the six o'clock rule. We just stop work, you know, I become a husband at six o'clock. And actually, without that rule, we just go insane, you know.”
Disclosure
Kothari: Tallyfy charges $49 per user per month for process automation
“Well, Talify is an app on the cloud and basically you sign up to it, and the way we make money is that we charge per user per month 49 bucks per user per month, and it helps people automate paperwork.”
Assertion Supported
Kothari: Tallyfy raised a $40,000 equity-free grant from Chile in 2014
“We got a grant from the government of Chile. So we spent eight months in Santiago, in Chile. That was equity free. That was 40,000 bucks.”
Assertion Supported
Kothari: Tallyfy received a $50k equity-free grant from Arch Grants
“And then we got another grant from the U.S. In this case, from St. Louis, a program called Arch Grants. It's one of the only grant programs in the U.S. You get 50 K, again, equity free, no questions asked.”
Assertion Not checkable as stated
Kothari: Tallyfy has about 100 to 200 paying customers
“Something like a hundred to 200 or so are the paying customers that we have.”
Assertion Not checkable as stated
Kothari: Tallyfy has 5 full-time staff and 4-5 freelancers in St. Louis
“We have five full-time people. And by the way, I'm the only one in Silicon Valley. Everyone else is in St. Louis in the Midwest. So there's five full-time and there's a bunch of freelancers, probably about four or five freelancers.”
