4.6 • 683 Ratings
🗓️ 22 October 2024
⏱️ 27 minutes
🧾️ Download transcript
In 2010, she launched one of the first chrome extensions for managing email. Boomerang quickly got 10k downloads and grew revenue using a freemium model. Today, her testing framework is enabling her to drive higher free to paid conversion rates - all from the Chrome Extension Store. Can they hit $12m ARR before Dec 2024?
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0:00.0 | You are listening to conversations with Nathan Latka, where I sit down and interview the top SaaS founders, like Eric Wan from Zoom. |
0:13.5 | If you'd like to subscribe, go to getlatka.com. We've published thousands of these interviews, and if you want to sort through them quickly by revenue or churn, cac, valuation, or other metrics, the easiest way to do that is to go to gitlatka.com and use our filtering tool. |
0:30.0 | It's like a big Excel sheet for all of these podcast interviews. Check it out right now at gitlatka.com. |
0:46.7 | I go by my last name Mo is a Burmese name and there's a whole different story on why we don't have a paternal last name system. |
0:50.9 | I'm going to talk about, well before we talk about what we're going to talk about, I'll |
0:57.0 | tell you what Boomerang is. We're the OG of the email productivity category. We invented the snooze button you now see in Gmail, |
1:07.0 | Outlook, Superhuman, even Slack. It's a freemian sets product that allows you to manage your inbox, follow-ups, and meeting |
1:15.0 | scheduling. |
1:16.1 | And we've been doing the PLG route before it even had a name. |
1:22.9 | And at the beginning of this year, we decided that 2024 is going to be the year of experiments. |
1:29.3 | So for this year, we have executed 44 experiments, about one experiment a week, about that pace, |
1:37.3 | a little bit more. They range from marketing, product improvement, product virality, |
1:43.3 | billing practices, and a few more. |
1:47.0 | And these experiments resulted in about 500K of ARR, 6% of our total revenue. |
1:55.0 | And over the next 20 minutes, I'm going to talk about the three most interesting tests that we run, |
2:03.6 | our journey to bootstrapping to $8 million, and what's the benefit of choosing to run the company that way? |
2:13.6 | So the first one that I picked was because it's the highest impact in terms of revenue. |
2:20.3 | We are at Freemian SAS, so as a freemian company, many of our trials will convert to free |
2:28.3 | basic user at the end of their trial. And this is just part of the funnel that we initially |
2:33.3 | didn't spend too much time optimizing |
2:36.0 | because our free to pay conversion was pretty good compared to the benchmark, so we kind of neglected it over the year. |
2:44.0 | And when we were kind of looking at what experiments do start, it seems like a very good, high impact with low effort ratio to start. |
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