Jason Hsiao, co-founder of Animoto, describes user retention and consumption behavior differences in video SaaS products compared to traditional SaaS.
0:00 / 0:14exact quote · 14.6s
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“And what's interesting about video as opposed to, I think, a lot of other SaaS businesses is video is still kind of one of those things. Even though video is everywhere, not everyone is actually convinced that they, you know, yeah, that they need to be using video all the time. And so it's very much like some people have very specific needs.”
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More from Jason Hsiao
Insight
Hsiao argues 'try a lot of things' is terrible startup strategy advice
“The biggest kind of bullshit kind of strategy advice we've been given and what a lot of people tout is just try a lot of things and see what sticks. And I just realized, man, especially for any kind of early stage startup, time and resources is limited, and yo…”
Jason HsiaoJun 30, 2020▶ 24:42Video Platform Animoto up 20% YoY with $30m in Revenue, Will Canva Acquire For $300m?
AssertionNot checkable as stated
Animoto operates with a 24-month customer acquisition cost payback period
“We kind of use a 24 month payback period.”
Jason HsiaoJun 30, 2020▶ 14:43Video Platform Animoto up 20% YoY with $30m in Revenue, Will Canva Acquire For $300m?
AssertionNot checkable as stated
Animoto's average revenue per customer is $200 to $250
“Yeah, more like the two, two 50 kind of range. So we kind of have our professional plan, the middle plan.”
Jason HsiaoJun 30, 2020▶ 2:55Video Platform Animoto up 20% YoY with $30m in Revenue, Will Canva Acquire For $300m?
Disclosure
Animoto pitched Sequoia the exact week the 2008 financial crash hit
“We were actually about to raise kind of our first serious round, like literally the day, the week of that, where everything kind of like everything crashed and Sequoia posted their rest in peace, you know, memo or whatever it was. And we were like sitting in w…”
Jason HsiaoJun 30, 2020▶ 5:32Video Platform Animoto up 20% YoY with $30m in Revenue, Will Canva Acquire For $300m?
Disclosure
Animoto has over 100,000 active paying subscribers
“We have active, we've got like a 130 active paying subscribers, and a lot of them are kind of coming back. So, but active, I'd say right now, like, you know, over a 100,000.”
Jason HsiaoJun 30, 2020▶ 9:07Video Platform Animoto up 20% YoY with $30m in Revenue, Will Canva Acquire For $300m?
Disclosure
About 20% of Animoto customers remain active subscribers indefinitely
“We know that, I don't know, about, like, about 20% of folks who come in will actually just stick around, you know, with us forever.”
Jason HsiaoJun 30, 2020▶ 9:40Video Platform Animoto up 20% YoY with $30m in Revenue, Will Canva Acquire For $300m?
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