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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…”
Hotjar's average revenue per user is just under €50 per month
“We're just shy of the 50 euro range. So it's relatively low. We are a volume company, but that's typical when you do freemium. But if we do well, we expect that number to constantly go up. So when we started, it was in the 30 euro range.”
Hotjar's net churn is half its gross churn due to expansion
“Our net churn, that is like half our customer churn. So essentially what's happening is we're dropping the smaller customers, but we are retaining and expanding the bigger customers.”
Hotjar's monthly customer churn rate is slightly over 5%
“So let's say the customer churn is just slightly over five, right?”
Hotjar's customer acquisition cost ranges between $35 and $70
“No, I think the range would be something in the range between maybe 35 to 70.”
Hotjar reached its current scale entirely bootstrapped without outside capital
“We're bootstrapped.”