Hotjar doubled its annual revenue run rate to €6M
David Darmanin · EP 558: 2 yr Old HotJar Passes $500k MRR Helping 10,000 Customers See What Website Visitors Are Doing with CEO David Darmanin · Feb 2, 2017 · at 7:34
Hotjar CEO David Darmanin confirms 2016 ARR and reports that the company has doubled to roughly 6 million euros in early 2017.
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“Yes. We're pretty much double that now.”
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More from David Darmanin
Hotjar serves 10,000 paying customers across 180,000 websites
“So we are serving just over 10,000 customers. And yeah, you mentioned how many sites. So it's around a 180,000 now running hard job.”
B2B freemium models see higher conversion than consumer software
“When you apply the consumer model to the B to B it's, it is typically higher actually.”
Hotjar's free-to-paid conversion grows from 2% to 9% by month eight
“In the first month that someone signs up, we see roughly a conversion of two percent. And then over, let's say six, seven, eight months, it goes all the way up. It fluctuates anywhere in the region of eight percent, nine percent.”
Staying bootstrapped removes pressure to prematurely monetize a freemium community
“We've been approached by VC firms, we've received offers, but we like to think that it's an advantage for us to not take funding for now, purely because it removes any pressure for us to monetize that freemium, that community model that we have, right?”
Hotjar CEO David Darmanin says future fundraising is likely
“Will we raise in the future? I'd say the probability is more on the yes side.”
Hotjar allocates budgets via target profit margins rather than fixed sums
“Instead of kind of having a budget model, we have kind of an investment target model. So what we do is we've decided this is the certain, this is the margin that we're aiming for in the company, and then the rest of that is, is attributed in terms of percentag…”