1435 Live Chat For Business Passes $5m in ARR, 31,000 Customers, Bootstrapped

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 29 June 2019

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Tim Valishev is the CEO of JivoChat (https://www.jivochat.com/)

🕒 Time Stamped Show Notes:

00:00 – Nathan's introduction to today's show

0:30 – How they help customers better convert using chatbots

1:00 – Why they are north of $5M in ARR right now

2:55 – How their growth has accelerated in emerging markets

2:00 – Why they have grown to serve 230k websites worldwide

2:30 – How the average customer pays JivoChat around $13 per month

3:00 – Why they are different from Drift and Intercom

4:00 – How they have incorporated the calling-in feature

5:20 – Why they launched the company in January 2012

6:50 – How he landed his first 10 customers through existing relationships

8:10 – Why they are exhibiting 45% logo churn annually

9:45 – How they've scaled to 32k paying customers

10:15 – Why they are landing 20k new sign-ups per month

11:15 – How JivoChat is growing via word of mouth

14:00 – Why they spent $300k to break into the Brazilian market

16:00 – How their team of 120 is remotely distributed

16:45 – Why he wants to remain bootstrapped

17:40 – The Famous Five

Transcript

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0:00.0	My new book is out on Audible, How to Be a Capitalist without any capital.
0:05.3	You can grab it right now.
0:06.9	Here's what a user Thomas Lornaviticus said.
0:09.6	Latka is the real deal, five stars.
0:12.1	Hey, Nathan, I just listened to your podcast with JLD.
0:14.5	You killed it.
0:15.4	I saw your book earlier last week and thought,
0:17.2	meh, I'll wait when Kindle costs $199 or whatever,
0:20.0	as I have over 150 books to catch
0:21.8	up with. But then I sense that this book may have something I need right now. I bought it for
0:26.4	full price, but didn't really start reading it. Then talking with JLD, you mentioned that the
0:30.4	strategies may not work if you wait. And that's so true. I read it. I'm feeling pumped to devour
0:36.1	it even more. Thank you for sharing it all and kicking
0:38.5	ass. Guys, all of you that listen to the podcast, you were the reason I wrote the book. Sass CEOs,
0:44.1	founders, entrepreneurs. Go grab it today at capitalistbook.com, especially if you like audio,
0:50.0	go grab the audible version right now. Again, capitalistbook.com. He launched Gvo
0:56.1	chat. You know, they launched back in 20, let's see, 2012 now doing about 5 million bucks in
1:01.4	ARR. That's up from 4 million in AR just a year ago. Totally bootstrap growth, which is great.
1:05.9	Over 230,000 installs, 31,000 paying customers, paying on average 13 bucks per month. When they do spend
1:12.3	on paid channels, they'll spend call it three bucks for a new signup. And eventually,
1:16.1	wherever they're spending that money, organic takes over because a lot of their growth comes
1:18.8	from the powered by Givo branding. They've got a remote team of about 120 people, lifetime value in
	...

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