Assertion Partly supported
Slack prioritizes its portfolio company Disco on its app directory
“It's like, it's a disco, disco bot grow bot previously. So they were, they are in essentials. They are on the front page. We cannot, like, ask, we, I asked actually, it's like, to put karma next to them, but it was counterintuitive. They invested money in this…”
Insight
Kulish: Paid Ads Fail for Culture Tools Due to Top-Down Purchasing
“It's really, it's so difficult because the main decision makers, they are at the top of the chain. We don't set, we don't like Trello. Engineers don't come to their superiors saying like, let's buy Trello gold. It's so cool. We've been using for a while with k…”
Insight
Kulish: Customers churn after 2-3 years seeking novelty, not from product dissatisfaction
“Recently we noticed that people, after using Karma for two years or three years, they just switched to another product because they sort of, they want the novelty. Not because the product is, well, not doing it for them. It's just the team wants something new.…”
Assertion Not checkable as stated
KarmaBot spends zero dollars on marketing
“Well we don't spend anything on marketing just because we don't have anything any, anything extra.”
Assertion Not checkable as stated
Kulish: KarmaBot serves over 3,000 total teams with 350 paying
“We've got a freemium solution. So altogether, I think it's more than 3000, but 350 of them are paying. So that's teams. 350 teams.”
Assertion Not checkable as stated
Kulish: KarmaBot's regular customer has 100 people and pays $100 monthly
“Around 100 people paying around 100 a month. So this is the regular size of the team and the regular bill.”
Assertion Not checkable as stated
KarmaBot saw initial COVID surge followed by huge demand plunge
“When COVID started, we had a huge surge, and I think this was around the time when we spoke the last time, the first time with you and we were really hopeful that this is gonna stay, but then a year ago, we saw a huge plunge”
Assertion Not checkable as stated
Kulish: KarmaBot has an 84% PMF score and an NPS around 80
“It's, well, fortunately it's word of mouth because product market fit is 84% and NPS score is standing around eighty-ish.”
Assertion Not checkable as stated
Kulish: KarmaBot gets about 500 new monthly signups from Slack
“Five, 30 days would be about 500.”
Opinion
Kulish: Email Marketing Sequences Drive Few KarmaBot Trial Conversions
“Well, as usual, we also have the marketing chain going on in the email, but that's I don't know, it's helpful. I don't think many people converted just because of that.”
Assertion Not checkable as stated
Kulish: KarmaBot made about $25k monthly profit on $35k revenue
“25 approximately.”
Disclosure
Kulish: KarmaBot has not yet found profitable marketing campaigns
“We're not, I mean, we're trying different things in marketing, maybe, you know, reaching out here and they're spending money in this campaign or another, but still none of that actually proved that it can work 100%. You know, well, when you spend 10,000 and ge…”
Disclosure
KarmaBot founder turns down $500k to $1M buyout offer
“They said that their range is 500 to one million. And that wasn't, yeah, in our heads that, that doesn't do it, unfortunately, because that so much we can get, like you said, we can get almost that bootstrapping being profitable in three years.”
Assertion Not checkable as stated
Kulish: KarmaBot is growing 7% month-over-month
“It's growing seven percent a month at the moment.”
Disclosure
Kulish runs $400k ARR KarmaBot purely as a side business
“It's a side business. It's a side business. We've got other things going on and this is helping us in, in, in, you know, moving along the line.”
Assertion Not checkable as stated
Kulish: KarmaBot monthly churn increased from ~1% to 2.8%
“So the churn, it was around one percent. Now it's four Three. Yeah. Well, on average, it's slightly below three percent, 2.8%.”
Assertion Supported
KarmaBot takes a 10% commission on automated employee reward purchases
“When they purchase stuff through us, we get the cut, and that's 10% cut.”
Opinion
Kulish: Karma Connect is a smarter version of Donut
“We built karma connect. Which will be a smarter version of Donut because we know that we Nathan and Stas, they exchanged Karma before, so they know each other, but that happened years ago, so maybe we should reconnect the way we do now on the live call and we …”
Assertion Not checkable as stated
KarmaBot hits $200k in annual recurring revenue
“Well, just yesterday, we've hit 200 K annual revenue. So that means 17,000 a month.”
Assertion Not checkable as stated
KarmaBot counts 233 paying teams and 20,000 active users
“That would be 233 paying teams, which translates in approximately 20,000 active users.”
Assertion Not checkable as stated
KarmaBot grew 3x per year from $65k ARR to $200k
“64, 65 K a year. So three times less. So we grow in three times a year since we started.”
Disclosure
KarmaBot raised angel funding at a $5M valuation cap
“The angel investment was based on the five million cap.”
Assertion Not checkable as stated
KarmaBot hit 5% monthly churn due to COVID company closures
“The five percent we got last month, that was monthly, but just because of companies dying out, literally, they're not there anymore.”
Assertion Not checkable as stated
KarmaBot trials normalized from 1,200 to 600-700 monthly
“During COVID it was 1200.
Now it's back to normal six, 700.”
