Prediction Not checkable as stated
Hartert: Jotform Aims for $150M ARR While Remaining Fully Bootstrapped
“Probably the first one. Yeah, I mean, that's really kind of been our mantra since day one. That's our CEO's whole, you know, methodology to it, and it's worked great for us.”
Assertion Supported
Hartert: 5% Free-to-Paid Conversion Is the SaaS Industry Average
“I mean, a good five percent is about the industry average. It seems like for, and I'm talking about all SAS products, not just in the farm world. But a five percent conversion rate seems to be pretty solid for people.”
Insight
Hartert: Constantly Adjusting Freemium Paywalls Confuses SaaS Customers
“We don't want to sit there and keep kind of adjusting that, that threshold, because then it becomes confusing to the, to our customers, because they'll say, wait a second, last month it was this month it's that, and now you've got people all over the place on …”
Assertion Supported
Hartert: JotForm developed first drag-and-drop SaaS interface for forms
“What we developed was the very first drag and drop interface as a SAS product where somebody could just literally say, I want these fields.”
Assertion Not checkable as stated
Hartert: Freemium SaaS conversion averages 6.5-7%, and JotForm exceeds it
“It's about six and a half to seven percent is average. And when you have a freemium model, like what we have but I say our user base, our paid user bases is beyond that.”
Assertion Not checkable as stated
Hartert: JotForm monthly recurring revenue is north of $4.5 million
“Yeah, I would say that's pretty, pretty much in the ballpark.”
Insight
Hartert: JotForm customer growth is driven by problem-focused SEO
“So what we found is by dressing specific challenges that companies face and using that as our foundation on the SEO, that's where we're finding the growth is coming from because people have a particular problem that they're trying to solve and they pop it up a…”
Assertion Supported
Hartert: Jotform Has Never Taken a Dime of Investor Money
“We're bootstrapped. We're, we've never taken a dime of any investor money anywhere.”
Assertion Not checkable as stated
Hartert: Jotform Employs Two Dozen In-House SEO Staff
“Well, I mean, we've got a couple of dozen people that are doing on the SEO site”
Assertion Supported
Hartert: Jotform plans range from $39/mo to $7,200/yr enterprise base
“They go anywhere high as 99 dollars a month, the 39 dollars a month for our bronze plans. And if they want to move up to our enterprise plans, again, there's a minimum of five users on that. And that starts it's about 70 to 7200 dollars a year for that without…”
Assertion Partly supported
Hartert: Jotform free tier caps at 5 forms and 100 submissions monthly
“So for example, our free plan, you're allowed up to five forms and you get a hundred submissions a month per form.”
Disclosure
Hartert: Jotform Grandfathers Existing Users to Shield Them From Price Hikes
“What we do also is when people are on a previous plan, they grandfather rent a debt plan. So Or a pretty grandfather in at that price. So they don't, our existing customer base does not really get impacted by price increases. It's only going to be incoming, ne…”
Assertion Not checkable as stated
Hartert: JotForm's average revenue per user is in mid-twenties
“Right now we've got probably our average cost, our average revenue per user, probably somewhere in the mid-twenties, since we've got a pretty good mix of people.”
Assertion Supported
Hartert: JotForm has never taken any outside investor money
“We've been a bootstrap company since day one. We've never taken one dime. Still today. Still today. We've never taken one dime of any investor money.”
Assertion Not checkable as stated
JotForm added 1M users in 18 months after 10 years reaching 2M
“So it took us about 10 years to go from zero to two million users. And in really the last 1819 months, we've been able to add 50% more user base.”
Disclosure
Hartert: JotForm acquires paid customers for far less than $20 to $30
“I think we would go as high as maybe 20 to 30 dollars per acquisition for a paid customer. But we're not paying anything near that, to be honest with you.”
Assertion Not checkable as stated
Hartert: JotForm paid customers average a three-year lifetime
“According to our measurements, we have an average of right around three years with a paid customer.”
Assertion Not checkable as stated
Hartert: Typical monthly user churn in JotForm's space is 5% to 7%
“In the space itself, it's around five percent is probably your typical, actually five to seven percent, I would say, probably your typical churn.”
Assertion Not checkable as stated
Hartert: JotForm monthly revenue churn is almost insignificant
“The revenue churn is, is almost insignificant to be honest with you.”
Assertion Not checkable as stated
Hartert: Expired credit cards are the biggest driver of JotForm churn
“We have found what's really probably the biggest driver for us is when people have their credit cards expire.”
Insight
Hartert: Advanced product features drive long-term SaaS customer retention
“When we show them how to create, say an online payment form or how to create an online survey or how to make an ex more extensive kind of form that uses things like conditional logic, when they start to see the sophistication that the product actually has, Tha…”
Assertion Supported
Hartert: Jotform Headcount Is Closing In on 400 Employees
“I think if you looked at the head count, I'm going to say I was, I'm probably in the first 50 employees that were hired for the company. So I've seen this grow from, you know, from where we were to we were closing in on 400 employees now.”
Assertion Partly supported
Hartert: JotForm has around 75 employees
“We are about 75 people in Programmers support people the marketing team obviously and such like that.”
Assertion Not checkable as stated
Hartert: JotForm has users in roughly 192 countries
“We have users in about a 192 different countries.”
