Daniel CH would reject juicy multiples to keep bootstrapping Legit Check
Daniel CH · How his side project hit $200k in revenue, new way to A/B test pricing · May 26, 2021 · at 13:10
Daniel CH, co-founder of Legit Check by CH, explains to Nathan Latka why he does not plan to sell his bootstrapped authentication platform.
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“Well, probably not going to sell regardless of, even if I'm getting a very juicy multiple because in my head, it could be way more. It just needs to be a slow burn because it's bootstrapped, completely bootstrapped, so no VC money.”
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More from Daniel CH
Daniel CH: Legit Check is primarily a media company, not tech
“So we are first and foremost a media company, more than a tech company.”
Daniel CH: Legit Check reached 300,000 users before monetizing
“I think it pulled in a 100,000 users before we made an Android app and then 300,000 users before we made it into a business.”
Daniel CH: 25% to 40% of Legit Check customers return
“It's a transactional. So one off people pass one time, but. 25, 40% people of the people come back.”
Daniel CH: Legit Check charges $20 to $100 per authentication
“Anywhere between 20 bucks and a hundred bucks depends on the item, but most of our items are priced at 20 dollars. But if you've got a Hermes Berkey and that's going to be a hundred bucks.”
Legit Check authentication guides have reached six million all-time viewers
“We have six million all time viewers of our guides.”
Daniel CH: Legit Check reached $200k to $220k revenue from May 2020-2021
“What I've checked for that post was that May to May. So May, 20, 20 to May, 20, 21, it was 200,000 and it should actually be a bit more because we made some charges outside of WooCommerce. So let's say 220,000, something like that.”