SaaS Interviews with CEOs, Startups, Founders
BillBee Dominated 1 Niche of DIYers, Bootstrapped, $2 Million Revenue
26 Oct 2020
Chapter 1: What is the story behind David's journey to Billbee?
We've grown by 70%. So, yeah. So you're doing about $100,000 a month a year ago. Exactly. Around $100,000. A little less than $100,000, yeah.
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We got to grow faster. Minimum is 100% over the past several years.
Or bootstrap founders like Vivek of QuestionPro. When I started the company, it was not cool to raise. Or Looker CEO Frank Behan before Google acquired his company for $2.6 billion.
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My guest today is David Pullman. He's always making money online all the way back since school. He started his professional career as a cooperative student at former 120,000 person HP with stops in Europe and California.
Later on, he started as employee number one and took over the growth part to further bootstrap Bilby to a seven and more figure SaaS company now working as the MD for revenue and operations. David, you ready to take us to the top?
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Chapter 2: How did Billbee achieve $2 million in revenue?
Yep. And rule of 40 takes basically your profit plus your growth. And what you're saying is you want to be above 10% both on year on year overall growth. And you're well north of that you're at 70%. And you want your profitability every to also be above 10%.
Exactly. Yeah.
That's great. Tell me more about the team. How many folks on the team today?
We're 20.
Yeah. How many engineers?
Eight, around eight.
And any quota-carrying sales reps or no?
We do not do any sales at all.
And churn is critical in a SaaS company, especially selling to SMBs. What's your churn look like?
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Chapter 3: What unique challenges did Billbee face in the DIY market?
Okay, and how old are you?
I'm 29 still.
29. Last question. What's something you wish you knew when you were 20?
Quit the job earlier.
Guys, there you have it. Bilby.io started selling early on to DIYers in the German competitor Shopify sort of app exchange. This was back in a couple of years ago, 2015, they launched. They were doing about 1.2 million in terms of run rate a year ago, now doing 2.2 million in terms of run rate. They've got over 9,000 customers paying an average $17. per month. They're profitable.
Every month, they take about $20,000 to $25,000 to the bottom line, also growing nicely. And they're doing all this completely bootstrapped, which we love. Team of 20 people, eight engineers. Churn is 13%, expansion 15% for 102% net revenue retention. CAC payback period, super healthy as they look to continue to scale. David, thanks for taking us to the top.
Thank you. Have a good one, Nathan. Bye.
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