The Ledger
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Kulish: Paid Ads Fail for Culture Tools Due to Top-Down Purchasing
“It's really, it's so difficult because the main decision makers, they are at the top of the chain. We don't set, we don't like Trello. Engineers don't come to their superiors saying like, let's buy Trello gold. It's so cool. We've been using for a while with k…”
KarmaBot spends zero dollars on marketing
“Well we don't spend anything on marketing just because we don't have anything any, anything extra.”
Kulish: KarmaBot's regular customer has 100 people and pays $100 monthly
“Around 100 people paying around 100 a month. So this is the regular size of the team and the regular bill.”
KarmaBot takes a 10% commission on automated employee reward purchases
“When they purchase stuff through us, we get the cut, and that's 10% cut.”
KarmaBot founder turns down $500k to $1M buyout offer
“They said that their range is 500 to one million. And that wasn't, yeah, in our heads that, that doesn't do it, unfortunately, because that so much we can get, like you said, we can get almost that bootstrapping being profitable in three years.”
Kulish: KarmaBot has an 84% PMF score and an NPS around 80
“It's, well, fortunately it's word of mouth because product market fit is 84% and NPS score is standing around eighty-ish.”
Kulish: KarmaBot monthly churn increased from ~1% to 2.8%
“So the churn, it was around one percent. Now it's four Three. Yeah. Well, on average, it's slightly below three percent, 2.8%.”
Kulish: KarmaBot has not yet found profitable marketing campaigns
“We're not, I mean, we're trying different things in marketing, maybe, you know, reaching out here and they're spending money in this campaign or another, but still none of that actually proved that it can work 100%. You know, well, when you spend 10,000 and ge…”
Kulish runs $400k ARR KarmaBot purely as a side business
“It's a side business. It's a side business. We've got other things going on and this is helping us in, in, in, you know, moving along the line.”
Kulish: Email Marketing Sequences Drive Few KarmaBot Trial Conversions
“Well, as usual, we also have the marketing chain going on in the email, but that's I don't know, it's helpful. I don't think many people converted just because of that.”
Kulish: KarmaBot serves over 3,000 total teams with 350 paying
“We've got a freemium solution. So altogether, I think it's more than 3000, but 350 of them are paying. So that's teams. 350 teams.”
KarmaBot saw initial COVID surge followed by huge demand plunge
“When COVID started, we had a huge surge, and I think this was around the time when we spoke the last time, the first time with you and we were really hopeful that this is gonna stay, but then a year ago, we saw a huge plunge”
KarmaBot hits $200k in annual recurring revenue
“Well, just yesterday, we've hit 200 K annual revenue. So that means 17,000 a month.”
KarmaBot raised angel funding at a $5M valuation cap
“The angel investment was based on the five million cap.”
KarmaBot has been profitable since January 2020
“Yeah. Yeah. We've been profitable since January. As I said, we keep in this very lean.”
KarmaBot trials normalized from 1,200 to 600-700 monthly
“During COVID it was 1200.
Now it's back to normal six, 700.”
KarmaBot counts 233 paying teams and 20,000 active users
“That would be 233 paying teams, which translates in approximately 20,000 active users.”
KarmaBot hit 5% monthly churn due to COVID company closures
“The five percent we got last month, that was monthly, but just because of companies dying out, literally, they're not there anymore.”
KarmaBot grew 3x per year from $65k ARR to $200k
“64, 65 K a year. So three times less. So we grow in three times a year since we started.”
Stas Kulish: KarmaBot founders take equal dividends on an as-needed basis
“Well, we've got money coming in and then we split them when we need it. Otherwise we don't touch that. If he says like, I want to take a I don't know. I want to do something at my house and I need to take out 6000. I'm taking 6000 as well.”