EP 493: DocHub $90k MRR, 15M Users To Make Document Signing Easy with CEO Chris Devor

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6 • 683 Ratings

🗓️ 29 November 2016

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Chris Devor, founder of DocHub and other extensions. DocHub allows you to view, edit, and sign PDFs online for free to streamline the exchange of documents. Listen as Chris shares how DocHub is different from their competitors and why he won’t easily jump into offers for a share of his company.

Famous Five:

Favorite Book? – N/A
What CEO do you follow? – Elon Musk

Favorite online tool? — New Relic
Do you get 8 hours of sleep?— No
If you could let your 20-year old self, know one thing, what would it be? – “I would have taken Computer Science and it would probably make my life easier”

Time Stamped Show Notes:

01:40 – Nathan introduces Chris to the show
02:16 – Chris started DocHub 3 years ago
02:57 – DocHub integrates with different providers
- 03:17 – DocHub can be opened directly from Gmail
- 03:30 – The signature looks real
03:48 – Number of users is 15.4 million and 52.2 documents
04:18 – What does 15 million users mean?
- 04:29 – For every one document opened up equates to one user
05:08 – The monthly recurring expense led Chris to having a paywall
06:57 – Chris runs several of the operations
07:16 – Number of paying users in October is around 5,000
08:00 – MRR in October is about $95,000
09:30 – Chris owns 100% of DocHub
09:43 – Team size
11:00 – In the last 30 days, DocHub had 1600 new subscriptions and 650 new cancellations
11:21 – DocHub has 30-day free trial
11:40 – DocHub’s revenue churn is 75%
12:23 – When can an investor invest or buy DocHub?
- 12:40 – It is still too early and Chris hasn’t tried new features
- 13:38 – Chris is finding a good valuation for their company
15:40 – Nathan shows Chris a $200,000 check asking how much equity Chris is willing to give
- 16:25 – “It’s too complex”
17:10 – Would you consider an offer for $5 million?
- 17:13 – “I will think about it”
18:50 – Connect with Chris through his website
20:19 – The Famous Five

Key Points:

A free trial is an EXCELLENT way to attract new customers—including a paywall helps, too.
Always continue to BUILD and EXPAND your company.
Choose a type of degree or diploma that will give you MORE opportunities in the future.

Resources Mentioned:

Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal developers.
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
Freshbooks – The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
Assistant.to – The site Nathan uses to book meetings with one email.
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel.
DocHub.com – Chris’s business website
Show Notes provided by Mallard Creatives

Transcript

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0:00.0	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.
0:09.0	You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.
0:16.0	I'm now at $20,000 per talk.
0:18.0	Five and six million.
0:19.0	He is hell-bent on global domination.
0:21.2	We just broke our 100,000 unit sole mark.
0:23.9	And I'm your host, Nathan Latka.
0:27.6	Okay, Top Tribe, this week's winner of the 100 bucks is Jose Avila.
0:32.2	He is a 17-year-old that doesn't want to go to college and he wants to start his own business.
0:37.0	For your chance to win 100 bucks bucks just like Jose every Monday morning,
0:41.3	simply subscribe to this podcast on iTunes right now and then text the word Nathan to 3344 to prove that you did it.
0:49.1	Folks, many of you reach out to me and you say, Nathan, so many guests on your show talk about the
0:53.1	importance of batching. But whenever I try and batch, you tell me this. You go, Nathan, they don't book back-to-back
0:58.2	times. So you, or they don't show up after they book. It's frustrating. The answer is, guys,
1:02.5	you have to use smart tools. I use a tool called acuity scheduling at Nathanladka.com forward
1:07.6	slash schedule. I'll tell you specifically how i use it later on in the episode
1:11.6	nathan latka here this episode 493 coming up tomorrow morning we learn from boris schachnovitch
1:18.1	who runs pdfiller dot com they've passed over 10 million dollars in annual occurring revenue
1:24.5	and served where were 200,000 paying customers to make documents
1:28.4	signing and management easier.
1:30.4	How did he get 200,000 customers?
1:32.7	Listen to find out.
	...

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