SaaS Interviews with CEOs, Startups, Founders
803: SaaS: Email He Used To Get From $0 to $10k MRR
05 Oct 2017
Chapter 1: What is the main topic discussed in this episode?
founder of Highbox, quit investment banking and the banking sector in general for Highbox and his other company, Joint Cube. They're bringing the two together with a goal of hitting $50,000 in monthly recurring revenue by the end of the year.
Chapter 2: What is HiBox and how does it enhance team productivity?
Currently, Highbox is doing about 10 grand per month, serving 300 customers of different team sizes, each paying about 32 bucks per month, helping them with messaging, on-demand video conferencing, among other things. New product coming out called Beamer, which will help folks understand changelogs and ideally help
current users understand what's being changed and how they can access and use new products.
Chapter 3: What motivated Spencer to leave investment banking for entrepreneurship?
They've raised $1 million, distributed team across Buenos Aires, Austin, and Barcelona. This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.
I'm now at $20,000 per talk. Five and six million.
Chapter 4: How did Spencer's background influence the founding of HiBox?
He is hell-bent on global domination. We just broke our 100,000 unit soul mark.
And I'm your host, Nathan Latka. Many of you listening right now don't have time to listen to every B2B SaaS CEO that I've interviewed.
Chapter 5: What challenges did HiBox face in its early revenue stages?
If you want to get access to the database I created with year-over-year growth rates, customer accounts, margins, and many, many other data metrics and data points, you can go to getlatka.com. Here's the thing, though. This database, I keep it to myself. It's so freaking valuable.
And to preserve the quality of the data and make sure that the people that have access to it have a true advantage, I'm only letting 10 companies on each month.
Chapter 6: What is the current customer traction and revenue model for HiBox?
So we're full this month, but you can go to getlatka.com to get on the waiting list for next month. And look, there's big people on the waiting list. I mean, the biggest VCs you've ever heard of. You've probably heard of them. They're big, private equity, billions and billions under management. So it's an impressive waiting list. Go get on now at getlatka.com. Hello, everyone.
My guest today is Spencer Kuhn. He's the co-founder of Highbox.co and JoinCube, which we'll jump into.
Chapter 7: How does HiBox plan to reduce customer churn?
He has over five years of experience in enterprise collaboration software, seven years working internationally, and he's managed teams across three continents and five countries. Previously, he was in investment banking at J.P. Morgan in New York City. Spencer, are you ready to take us to the top?
I'm totally ready.
Let's do it. Awesome. Yeah, thanks for jumping on.
Chapter 8: What innovative strategies has Spencer used to acquire customers?
I appreciate it. Tell us what Highbox does and what's the revenue model. How do you make money?
Sure. So Highbox is a collaboration app for teams. So Highbox combines a chat, task management, and video conferencing all on the same platform to help your team be more productive. And we also add a layer of artificial intelligence to bring everything together and enhance workers' productivity even more.
This is like you're competing with Slack for messaging, Zoom with video, and WhatsApp for messaging all in one platform.
I mean, how do you make... Exactly. Maybe even Asana also, or a Trello-like system for task management. So yeah, that's the idea, is to kind of combine all those different tools that workers need on a daily basis to get stuff done and collaborate together in one single platform so that you have less noise.
You lose less time switching between different apps, and the different tools are actually designed to work together instead of designed in separate platforms where they might not work as well together.
And what's the revenue model? I mean, is this a SaaS platform?
Exactly. SaaS, freemium. So everyone has a 14-day free trial of a pro version where you can invite a limited amount of users, use all of our different features. And then there's three different versions of Hibox after the free trial. So you have the free version with a limited version of task management, less minutes on video conferencing, you know, reduced search.
Then you have an enterprise version where you have more tools like an auditing log, being able to go into really granular, detailed search of people's conversations to find exactly what you're looking for.
And then Spencer, to avoid kind of going down each individual cohort, if we just take an average, I mean, what's the average customer paying you per month?
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