The Ledger
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Vu targets $100K MRR and $1.2M ARR for Avocode in 2016
“We'll hope to get to 100 K MRR, so about a 1000001.2 annual run rate.”
Vu: Avocode has 2,800 paying customers and no free tier
“We have 2800 customers. And we don't have any free plans. We only have free trials, so all of our users are paying users.”
Vu: Avocode made about $90K in first-week pre-orders
“We actually run a pre-order program before we started selling our code. So we've made about 90 K on that the first week”
Vu: Avocode has 7% monthly user churn but -1% revenue churn
“So in terms of in terms of user churn in total, that's about seven percent, which is seven percent monthly. Yes. That's pretty high. But in terms of revenue churn, we have a negative one percent churn on that.”
Vu: Avocode Spends Nothing on Customer Acquisition, Relying Purely on Inbound
“So we don't pay basically we pay nothing. We all do is inbound. We, we're not paying any, anything basically at the moment.”
Vu: Avocode is profitable at $50,000 MRR with $35,000 monthly expenses
“Sorry, I probably got it wrong, but we're basically, our monthly expenses are 35 K, so not a burn rate.”
Vu: Avocode raised $125k from 500 Startups for 5% equity
“We actually raised a little money from 500 startups.
So basically why we did that was.
How much was that?
That was one 25 case.
And they take five percent, right?
That's right.
It's, that's pretty low valuation and it's on convertible anyway”
Vu: Avocode retains basic-tier customers for 10 months, business-tier for 18
“So in the garage plan, that's 10 months, which is a bit low, but the business plan currently is 18 months.”
Vu: Avocode is growing MRR at 15% month-over-month
“Yes, we're growing at about a 15% rate at the moment.”
Vu: Avocode rejected a $2M to $3M acquisition offer from InVision
“I think two or three million. A lot of, most of the stuff were, was in stock, so we said no.”