SaaS Interviews with CEOs, Startups, Founders
Typeform Breaks $48m Revenue, 40% yoy Growth, $800m Valuation Next?
03 Mar 2021
Chapter 1: What is the main topic discussed in this episode?
It's all the other shows, and I can be like, David, what was your biggest failure? What was your biggest success story? You know, it's no fun.
Or they send you a list of questions, and you're like, oh, geez, I have to pull this inside.
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He is building a company, you've probably heard of it, called Typeform. Inside of Typeform, he released a new product called Video Ask, which we'll focus on today. We'll have a lot of fun. David, are you ready to take us to the top?
Yeah.
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Chapter 2: When was the Video Ask product officially launched?
You know, the show doesn't work without founders like you who are game to share these sort of data points, right? Otherwise, you get this business show.
I like the show kind of on the spot, like... I don't like things that you have to prepare for. So this is great.
It's like, just dive into the deeper. It's all the other shows. And I can be like, David, what was your biggest failure? What was your biggest success? You know, it's no fun. Okay.
So they send you a list of questions and they're like, Oh geez, I have to prepare all this and sound smart.
4 million run rate. Okay. Let's go to video. Ask, tell us what the product does.
Yeah. So it's an async video interaction tool. Essentially you can build a, um, a kind of workflow journey where you can take people through a journey, you ask questions via video, you can collect answers via video, text, audio, multiple choice, you can collect the payment, NPS, and you can do like a series of these things just like a form.
And the other dimension of it is that, you know, with Typeform, it's just collecting the data and then analyzing it. With Vidiast, there's a step more. You can actually respond. You can respond by video and then you get into an asynchronous video conversation. It's really just a great way to get face-to-face with customers.
or anyone like, you know, in a business context, of course, like in the most effective and quick and visceral manner.
Yep. So the reason this space is very interesting to me is there are different mousetraps on the peripheries relative to like the spot where you're playing. So for example, you know, Yak, right, has sent me up and said, use our tool to do like video back and forth and ask your audience video questions for your show. Then you have
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Chapter 3: How did Typeform's early days influence its growth?
Like with videos, we have logic, we transcribe everything. We've even released a feature soon where it transcribes live in the browser based on listening. It will jump to a different question. So we're really like... we're really like going deep into like video interaction without it being one of these video interaction tool where you just like put that, you know, like what do you call that?
Hotspots. We're really just trying to, yeah, it's, I would say it's kind of like the next generation type form for people that really want to get this wrong.
Well, there's also a use case here where there are CPG brands that always want to collect the video testimonials. And this is a great way to do that.
That's a strong use case for us. But I think, you know, recruitment,
feedback, you know, just like embedding a video on your website, just as a widget, as a contact form where you can just say, and we have loads of customers using this, just like presenting themselves on the website because they realize that if they put their own personal brand and actually talk to people, they actually get more engagement. And then people might respond by video, audio or text.
And then, you know, you're suddenly in a conversation with that person because you can reply back. So it's just a really quick way of just like,
actually like going jumping through all the hoops so you can actually get a meeting and actually create a meaningful and personal connection now do you have the luxury of not having to worry about revenue because you're built inside of tight form which makes revenue in other words do you have a plan for video ads it's a double-edged edged sword because we have the luxury of not having to raise capital or worrying about like running out of funds but you know i i i i
needs to be successful for us to like carry it on. So I've had that pressure as kind of like the lead on the project.
What does that feel like, David? What does that pressure feel like? What number are you trying to hit?
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Chapter 4: What insights can you share about Typeform's customer base?
Like, we had a big management change, like, two years ago. Actually, I stepped down. I was the CEO. And the company's been performing, like, really, really well. And I think, you know, the momentum's really there now.
Is Robert ā I just don't know because I only know you as Robert.
Robert stepped down. Robert stepped down, like, a little bit of time after we both stepped down as CEOs.
Is he still active?
No.
Active on the board level. So you're way more active than he is in terms of operations.
Yeah. I mean, I'm totally in the weeds. I mean, I'm, I'm, I'm product designing, product managing and, and, and, and even coding now. So yeah, totally back, back to square one and loving it.
This is great. Okay. This is very interesting. Do you see, I mean, it'd be very interesting internally to see if the video ask product can eventually overtake the type form product in terms of total revenue. I always cheekily say so, but that's just to create that sense of competition. Talk to me about churn.
So when someone installs a video ask, I assume you want to get them to send two videos in at least 10 minutes to drastically increase that they stick around. What does churn look like today?
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Chapter 5: What has been Typeform's funding journey?
So that's like indicating more and more usage. Plus like strong kind of like higher SMB and enterprise. means that in terms of MRR churn, I think we will probably outperform our main product.
What's it at today? Do you know what it's at today? The what? The MRR churn? Yeah.
Yeah, I think it's around 3%, 3%, 4%.
That is actually not horrible for this price point.
No, no, no. No, I mean, it's higher on time. But it's just typical of this. of this kind of business. We see the same thing with like SurveyMonkey and all. It's just that people use these types of tools like people do to do like campaigns and then they come back and so forth.
Are you in any talks to be acquired by SurveyMonkey? No.
No, but you know, we did have those conversations. I have met with the SurveyMonkey CEO a couple of times, just casual conversations, but that was way in the past. Just for fun. But no, no, nothing happening there, I can assure you.
All right. Well, look, there's a relationship there, so we'll see what happens. Now, your guys' last round of funding was when?
A while ago now.
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