Shai Wolkomir, founder of Fleeq, discusses monetizing lifetime AppSumo users through an add-on store with Nathan Latka.
Insight
Wolkomir: Native mobile app onboarding SDK market is smaller than expected
“The market was not big enough in the sense of mobile is great, but the number of companies that are willing to optimize their product using a third party integration within the mobile native app is much smaller than expected. The, there was no instant gratific…”
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Wolkomir: Fleeq converts freemium at ~8% with >$200 LTV
“The conversion rate right now is close to eight percent, meaning that it's not four or five bucks. You time, you X that like 12 times, but the LTV for our customers, because the price is very low and the churn is very, it's very low, is more than 200 bucks.”
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Wolkomir: Fleeq has 120 self-service and five enterprise customers
“120 on the self-service, but on the enterprise, which is a whole different pricing, not per seat. There's tons of value there, like single sign on, et cetera. That's a different pricing. We have five enterprises, big enterprises with a whole different pricing …”
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Wolkomir: Fleeq brought in over $130K net from AppSumo and upsells
“So all in all with AppSales that we've done from the customers that signed up the AppSumo, we've done more than one 30 K.”
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Wolkomir: Fleeq charges $10 per seat with enterprise contracts up to $20k
“So the price per seat is 10 bucks. So you would see some somewhere between 15 to 22 on the small SMBs, and the big guys pay on an annual base somewhere between three to 20 K.”
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Wolkomir: Fleeq has over 10,000 users and 25,000 fleeqs created
“Currently there's a freemium model where more than 10,000 Users on the platform itself, more than 25,000 flicks in the air.”