Founder Interview
How BlogVault Reached 20,000 Paying Customers Bootstrapped and Profitable (Interview with CEO Akshat Choudhary)
- Interview Date
- May 25, 2022
- Interviewee
- Akshat ChoudharyFounder and CEO
Company Metrics at Interview Time
Paying Customers (2022)
20,000
Team Size (2022)
36
Year Founded
2010
Largest Customer (2022)
$100,000 per year
Entry Price (2022)
$90 per year
Historical Snapshot
These numbers were reported by Akshat Choudhary during his interview with Nathan Latka in May 2022 and are a historical snapshot, not current figures. See BlogVault Inc’s current numbers.

Key Takeaways
- 01BlogVault serves over 20,000 paying customers across its three WordPress products as of 2022
- 02The company was founded in 2010 as a side project and has been run full time for ten years
- 03Akshat Choudhary is the sole founder and retains 100% equity
- 04The team is 36 people, with over half being engineers based in Bangalore
- 05The company is fully bootstrapped and profitable
- 06BlogVault passed $1 million in revenue around 2016
- 07The largest customer pays six figures per year, approximately $100,000
- 08The company gives approximately 30% of profits to employees through a profit sharing plan
- 09Profit sharing paid out hundreds of thousands of dollars to employees in 2021
- 10Growth is driven primarily by organic SEO and word of mouth
Company Metrics at Time of Interview
| Metric | Value | Source |
|---|---|---|
| Paying Customers (2022) | 20,000 | Founder interview, May 2022 |
| Websites on Platform (2022) | 400,000+ | Founder interview, May 2022 |
| Team Size (2022) | 36 | Founder interview, May 2022 |
| Engineers on Team (2022) | Over half of 36 | Founder interview, May 2022 |
| Year Founded | 2010 | Founder interview, May 2022 |
| Revenue Milestone (2016) | $1M | Founder interview, May 2022 |
| Largest Customer Annual Contract (2022) | $100,000 | Founder interview, May 2022 |
| Entry-Level Price (BlogVault) (2022) | $90 per year | Founder interview, May 2022 |
| Profit Sharing Pool (2022) | 30% of profits | Founder interview, May 2022 |
| Profit Sharing Payout (2021) | Hundreds of thousands of dollars | Founder interview, May 2022 |
| Senior Engineer Salary (top) (2022) | $100,000 per year | Founder interview, May 2022 |
Growth Breakdown
Revenue
Akshat confirmed revenue passed $1 million around 2016 and described current revenue as a few million dollars, less than $10 million. He declined to share an exact current figure but noted the business has been growing healthily.
Customers
BlogVault has over 20,000 paying customers across its three products as of 2022, with more than 400,000 websites on the platform including free users. Customers range from individuals paying $90 per year to enterprise accounts paying six figures annually.
Team
The company employs 36 people full time, with over half being engineers. Almost all team members are based in Bangalore, India, where Akshat says the talent is highly competitive and comparable to Silicon Valley.
Profitability and Funding
BlogVault is fully bootstrapped with Akshat retaining 100% equity as the sole founder. The company is profitable and distributes approximately 30% of profits to employees through a structured profit sharing plan, which paid out hundreds of thousands of dollars in 2021.
Growth Strategy
Organic SEO
The primary growth driver is organic search traffic. BlogVault has an in-house SEO specialist and ranks for a wide range of WordPress-related keywords, including long-tail technical queries that generate significant traffic.
Word of Mouth and Brand Building
Akshat credited word of mouth and the brand recognition built over more than ten years in the WordPress ecosystem. Being a long-standing product means many articles and community discussions reference BlogVault naturally.
Product Suite Upsell
BlogVault, MalCare, and WP Remote are sold individually or as a bundle, creating natural upgrade paths. Customers who start on a basic plan are incentivized to upgrade as they add more sites or need features like real-time backups for WooCommerce stores.
WordPress Ecosystem Presence
The company operates as a SaaS within the open-source WordPress ecosystem, targeting the millions of business-critical websites that need backup and security. This large addressable market supports organic customer acquisition without heavy paid advertising.
Profit Sharing to Retain Talent
A structured profit sharing plan rewards tenure and seniority, acting similarly to stock options for a bootstrapped company. This helps retain engineers and other key staff in a competitive Bangalore talent market.
Best Quotes
“Yes, we do. We are a part of the WordPress ecosystem. So we are a software as a service and not a plug in per se.”
“So they can buy individual products also, but they can buy the whole suite. And WP Remote. So you can buy BlogVault individually for $90 a year.”
“We're fully bootstrapped.”
“So we we have a very generous profit sharing program where we do it based on the number of years you have spent at BlogVault and seniority. So a combination of that and so as you spend more number of years, it almost acts as options.”
“So we give up almost 30% of our profit to to as part of the profit share.”
“It's a few million dollars. It's less than 10, but a few million dollars.”
“We have customers who pay us a $100 a year, and we have customers who pay us 6 figures per year.”
“Organically, plays a role. A lot of articles talk about us because we have been around. So when you have a SaaS product which is ten years in the making, brands get created, micro mini brand gets created.”
“So most of it is organic. So it it it's it's a marketing team, content team seller.”
“Today today, I think we are better placed than we have ever been to grow faster than we have ever been.”
What Happened Next
This interview captured BlogVault at a moment in May 2022 when the company had 20,000 paying customers, a team of 36, and was profitable and fully bootstrapped after more than a decade of growth. Akshat expressed ambition to reach $10 million in revenue within a couple of years and to grow faster than ever before. The figures here are a point-in-time snapshot from that conversation. Visit the live BlogVault company profile on GetLatka for current metrics.
View BlogVault Inc’s current profile and metricsFull Transcript
Chapters
- 0:00Introduction and Company Overview
- 0:24WordPress Ecosystem and Product Suite
- 1:03Pricing and How the Products Work
- 2:57Customer Count and Website Installs
- 3:14Company History and Founding Story
- 6:28Team Size and Engineering Talent in Bangalore
- 7:04Bootstrapped and Profit Sharing Plan
- 8:49Profit Sharing Math and Structure
- 12:08Revenue Range and Growth Rate
- 13:15Customer Tiers and Largest Customer
- 16:11Organic SEO as Primary Growth Driver
- 18:51M and A Offers and Valuation
- 21:26CAC and Paid Advertising Experiments
- 22:07Famous Five Rapid Fire Questions
- 22:58Closing Summary
Introduction and Company Overview
Nathan Latka
00:00Hey, folks. My guest today is Akshat Choudhary. He's the Founder and CEO of BlogVault, MalCare, and WP Remote. These services allow over 20,000 customers to build and manage high performance websites with ease. Akshat, you ready to take us to the top?
Akshat Choudhary
00:13>> Yes, absolutely. Thank you for having me.
Nathan Latka
00:15You bet. So 20,000 users, that's a ton of customers. Are you playing like in the WordPress extension ecosystem or some marketplace?
WordPress Ecosystem and Product Suite
Akshat Choudhary
00:24>> Yes, we do. We are a part of the WordPress ecosystem. So we are a software as a service and not a plug in per se.
Nathan Latka
00:33I see. I see. So which of these tools is the biggest? BlogVault, MalCare, and WP Remote? Which one has the most users?
Akshat Choudhary
00:39>> I think MalCare today is our biggest biggest product.
Nathan Latka
00:43And it has the most revenue as well?
Akshat Choudhary
00:47>> It's, I think, fairly well balanced, though I would still say MalCare
00:52>> is the leader. Though all three products are, you know, it's a suite. They all go hand in hand.
Nathan Latka
00:59Okay. So explain how they work together. What's a customer pay you for? What do they get?
Pricing and How the Products Work
Akshat Choudhary
01:03>> So they can buy individual products also, but they can buy the whole suite. And WP Remote. So you can buy BlogVault individually for $90 a year. You can buy MalCare individually for $100 a year for a single site. Or you can buy them together at 149. There's another plan at $299 for a single site. And then if you have more sites, then it goes all the way up to
Nathan Latka
01:29Akshat, sorry, my audience doesn't know what these tools do. So if people buy the tools, tell us what the tools do.
Akshat Choudhary
01:34>> All right, yeah. So if you're running a website, a WordPress website, you want to protect it because, especially if you're running a business critical website, if anything happens to it, lose, you lose customers, you lose SEO ranking, you will lose,
01:51>> yeah, it's a big loss to your business, so you can't afford to have it go down. What we do is we protect your business, your business website. And BlogVault lets you back up the website, MalCare lets you secure the website.
Nathan Latka
02:02Interesting. And
Akshat Choudhary
02:04>> WP Remote is our agency offering, where if you're running an agency and you have hundreds of websites and you use WP Remote to manage your entire a large number of websites, and that includes backup security and more.
Nathan Latka
02:18I see. Okay. So it's all about website security. How many websites have installed one of these three tools?
Akshat Choudhary
02:24>> Hundreds of thousands.
Nathan Latka
02:26Your website says 400,000. Is that accurate?
Akshat Choudhary
02:30>> Yes. More is it it would be even higher than that. I think that number has to be updated.
Nathan Latka
02:35Have you passed them half a 500, a thousand?
Akshat Choudhary
02:38>> We we don't actually actively track it. It's Okay. Yeah. There's a lot of funny numbers there also. There are paying customers. There are free customers.
Nathan Latka
02:49Well, of the of the of the 400,000 installs or 400,000 installs, how many are actually paying for one of the three tools?
Customer Count and Website Installs
Akshat Choudhary
02:57>> Again, actually, don't track it in that manner. What we do track is we have more than 20,000 paying customers. Okay. So 20,000 paying customers. Which have more than one or more websites on our platform.
Nathan Latka
03:09I see. Okay. That makes sense. And there's over 400,000 websites on the platform?
Akshat Choudhary
03:13>> Yes.
Company History and Founding Story
Nathan Latka
03:14I see. Okay. Give me more of the backstory here. When did you launch the company? What year?
Akshat Choudhary
03:18>> So 2010. It's we go back a long way. And it was launched as a side project. Wow. I've been doing it full time for ten years now.
Nathan Latka
03:26Are you the sole founder?
Akshat Choudhary
03:28>> Yes.
Nathan Latka
03:29So you still own a 100% equity today?
Akshat Choudhary
03:32>> Yes.
Nathan Latka
03:33Oh, that's amazing. How many folks are full time on the team now?
Akshat Choudhary
03:37>> We are 35, 36 now.
Nathan Latka
03:40Wow. Okay. Tell me about the team. How many are engineers?
Akshat Choudhary
03:44>> Over half the team is engineers.
Nathan Latka
03:46And where are they based?
Akshat Choudhary
03:47>> So we are all almost all of us are based in Bangalore.
Nathan Latka
03:51Amazing. I hear the talent over there is just incredible. Is that true?
Akshat Choudhary
03:55>> Yes. It is. It a Silicon Valley Of India talent. You get the best engineers in India here, but it's also highly competitive.
Nathan Latka
04:05Oh, what's going on there, YouTube? Good to see you guys. Now imagine this, you love watching these interviews with SaaS founders, but imagine if we took all of the valuation data out from over 2,807 interviews I've done manually. Saves you a lot of time. Well, we've done this. We've built it into the beautiful interface inside of Founderpath. Check this out. I'll show you how you can access this in a second. But you log in, you connect
04:29your Stripe account, you see your valuation real time. You can see what it changed over the past eighty eight days and even set goals for valuation this year. Now the secret evaluation is there's many different ways to value a SaaS business. So the reason you're gonna see three or four different valuations inside of your Founderpath dashboard, this is all free by the way, is because depending on who's doing the buying of your SaaS company, you're gonna
04:53get a different valuation. A VC is gonna pay a different valuation, Private equity firm is different. If you're gonna do a minority sale, that's different. And if you sell the whole business, that's a different valuation. You can see all those when I hover over here. Right? So the teal is what a VC would pay. Yellow is what private equity and red is if you sold the whole thing outright. Now what's cool about this is this is
05:15not built off random data. Again, you guys hear these interviews on YouTube. All these datas are built from real time valuation data points founder share with us on the show. So traction 1,200,000 seed round 3.7 raise. They sold 22% of their business. Go in here and filter by the event. Maybe you only wanna see companies that have sold the whole business. Well, here are a bunch that have been acquired the valuation and the multiple. Maybe you're
05:40going out right now and you're raising your seed round. We'll go in here and look at all this recent seed deals that went down, what they raised, what valuation they raised at and what percent that they sold. There's never been a larger dataset of SaaS valuations than what you can get now inside of Founderpath. And we're thrilled to bring it to you. All right. We're gonna go back to the YouTube video here in a second. But
06:02if you wanna check this tool out, if you wanna jump in and sign up, you can check it out for free to get your valuation at this link. This link, founderpath.com/products/valuations. Or if you go to founderpath.com and hover over products, click on get your valuation here, and go ahead and sign up to give it a whirl. Again, all that valuation data live right inside the platform. I hope to see you there. All right, let's jump back
Team Size and Engineering Talent in Bangalore
Nathan Latka
06:28into the interview. So what do you pay a senior engineer at your company?
Akshat Choudhary
06:33>> We don't disclose it, but yeah, it's we pay we are one of the top players. So the best engineers in our company would get as much as they would get in most some of the most Yeah.
Nathan Latka
06:43I don't know what that is, though. How how much is it?
Akshat Choudhary
06:44>> It can it can go up to a $100,000 a year.
Nathan Latka
06:48Okay. So a good senior engineer would be doing really well if they're making a $100,000 in Bengaluru?
Akshat Choudhary
06:54>> Yes.
Nathan Latka
06:55Okay. Amazing. And then, so 16 engineers, 36 full time. Now are you bootstrapped or have you raised capital?
Bootstrapped and Profit Sharing Plan
Akshat Choudhary
07:04>> We're fully bootstrapped.
Nathan Latka
07:06I love this. So how do you incentivize your employees? Like, do you give them options or not? How do you incentivize them that way?
Akshat Choudhary
07:11>> That's a good question. So we we have a very generous profit sharing program where we do it based on the number of years you have spent at BlogVault and seniority. So a combination of that and so as you spend more number of years, it almost acts as options.
07:30>> But yeah, we've tried to keep it as fair as possible.
Nathan Latka
07:33But actually everyone wants to know how to do this. Everyone is trying to do their own version of this, but no one ever talks about it. And my audience is mainly Bootstrap Founder. So let's role play for a second. Let's say I was an engineer that joined your company five years ago. So I've been with you for five years. What other inputs would you use to calculate my profit share this year?
Akshat Choudhary
07:52>> So five years would be the seniority that you have. That would be number one. So we grade the people at the company based on various factors, but the impact essentially the seniority that you have and then the number of years you have spent at BlogVault. So for example, if you are a very senior person, but you have only spent a year in BlogVault, then
08:16>> the profit share would be lower than a person who might be junior than you, but has spent five years at BlogVault.
Nathan Latka
08:23Yeah. So so actually, let's use a real example, right? So I joined as a let's say I joined as a senior engineer five years ago. So I'm a senior my management level is a senior, and I've been there for five years. What would the math be so that I could back into what my profit sharing might be for last year?
Akshat Choudhary
08:39>> So it would be tens of thousands of dollars would be would be
Nathan Latka
08:44Well, no. But I'm trying to get the math equation so that other founders listening can set up their own profit sharing plans.
Profit Sharing Math and Structure
Akshat Choudhary
08:49>> So it depends on many factors, frankly. Like, we we take out we we we give up almost 30% of our profit to to as part of the profit share.
Nathan Latka
08:59Mhmm.
Akshat Choudhary
09:00>> But it again depends on how how how you want to structure it.
Nathan Latka
09:04So there's 30 all all 36 employees participate?
Akshat Choudhary
09:07>> Yes. Everyone participates. You have to do a finish a year to participate.
Nathan Latka
09:12I see. So you have to be with you for at least a year. So there's 20% of total company profits available for profit sharing across
Akshat Choudhary
09:19>> It's 30 higher than that. Yeah, it's higher than that. Yeah, but it is.
Nathan Latka
09:23So what I'm still trying to back into is let's say someone listening right now saying, okay, wanna copy action. I do 20% of my profits for profit sharing. My team is also about 30 people. How would they decide? What's the math equation to multiply that 20% by so that senior engineer has been there for five years could calculate how much they'd make?
Akshat Choudhary
09:41>> Honestly, I don't have the numbers or the formula in front of me, but what we have done is we have assigned a grade and we convert. So the way we do it is, suppose you have, let's for simplicity say, suppose you have been here for five years with us, okay? For five years, suppose the multiplier we add is five, though I don't know the exact multiplier, have the exact multiplier in front of me, and your grade
10:06>> is five, and your grade is 10. So I would do 10 into five, fifty. And there's a second person who is at four years and grade 10. So that's four into ten forty. What we will do is we'll add up all 30 people's score and then divide the overall pool by this score, by this total accumulative sum.
10:28Yep.
10:28>> And then multiply each person's factor to get the actual number.
Nathan Latka
10:36So the two examples you just gave was a grade of 50 plus a grade of 40. So grade of 90 together. Let's say your profits last year were, I'm making this up a $100,000. You would take a 100,000 divided by 90?
Akshat Choudhary
10:49>> So you take 20% of that, so you take $20,000.
Nathan Latka
10:53Oh, okay.
Akshat Choudhary
10:54>> And and then divide it by 90, and then each person, the two people will get five is to four ratio, essentially.
Nathan Latka
11:01Oh, I see. So 20,000 divided by 90 is 222 per person. Then
Akshat Choudhary
11:07>> they Into would 50.
Nathan Latka
11:10Sorry?
Akshat Choudhary
11:11>> Into into 50. The first person will get into fifty and second person will get into 40.
Nathan Latka
11:15Yeah. So again, I'm calculating the unit. Right? So one unit of grade is worth $222 and then one would get 50 times 222 and the other would get 40 times 222.
Akshat Choudhary
11:27>> That's correct.
Nathan Latka
11:28At a high level, that's how you do it.
Akshat Choudhary
11:29>> That's roughly the math, the exact numbers I don't have in front of me, but that's roughly the math we have.
Nathan Latka
11:36That makes a ton of sense. Okay. I love that. Very cool. Thanks for sharing.
Akshat Choudhary
11:40>> And the one factor since you speaking so much, we really so the score is if the more time you spend with us, the higher the ratio. So you would see like a 50 a person would make us significantly more money than a 40 or 30 a person. So it's almost like stock options also. So the value increases because we know that as in SaaS, the business, the more time it's a time plays such an important role
12:06>> in creating value.
Revenue Range and Growth Rate
Nathan Latka
12:08Yep. Yep. In 2021, how much total did you pay out to employees as part of this plan?
Akshat Choudhary
12:12>> We are not disclosing this. This is the number, but it's it's hundreds of thousands of dollars is what we we gave to.
Nathan Latka
12:19You think that'll break a million this year?
Akshat Choudhary
12:22>> We would love to do it. I I'm not sure we'll be able to do that. It's not we're we're not that profitable.
Nathan Latka
12:28Okay. Okay. Interesting. Well, you're profitable and you're bootstrapped, we love.
Akshat Choudhary
12:33>> Yeah. So so Yeah. But we'd love to do it, that 20%, 25% is not set in stone. It's we see how so the actual other factor, and which is why it's slightly more complicated, is in SaaS we also, what we know is that the faster we grow, the more profits we are willing to give up, in the sense shared with everyone.
12:57>> Because so that incentivizes us to grow faster and faster. So what might be 20% at certain growth level, it might even go up to 60% at another growth level.
Nathan Latka
13:08I see. Very interesting. Now you mentioned ahead of the call that you can't share exact revenue, but you could share a range. What revenue range are you in today?
Customer Tiers and Largest Customer
Akshat Choudhary
13:15>> It's a few million dollars. It's less than 10, but a few million dollars.
Nathan Latka
13:18Okay. Do you think you can break 10,000,000 this year?
Akshat Choudhary
13:21>> Very difficult.
13:23Okay. Difficult.
13:23>> Yeah. It's very difficult, but within a couple of years, definitely.
Nathan Latka
13:27So let's just say the number is 4,000,000 divided by 20,000 customers because you're mainly selling one time annual plans, right?
Akshat Choudhary
13:34>> No. So we sell recurring
13:39>> plans, which are monthly annual. So this is an interesting part about our business. We have customers who pay us a $100 a year, and we have customers who pay us 6 figures per year.
Nathan Latka
13:49What's the what's the big don't name the customer, obviously, but what's the largest customer pay you per year?
Akshat Choudhary
13:54>> 6 figures per year. It's a good sum.
Nathan Latka
13:59Okay. So the largest customer is like a 100,000 a year, something like that?
Akshat Choudhary
14:03>> Yeah. It's a big sum of money. Yeah. But because of the nature of the business there, we are multi feature and then the number of units, number of sites plays an important role.
Nathan Latka
14:15Yeah. I imagine the the biggest reason someone's gonna pay you a 100,000 versus just a 100 a year is number of sites. Right? That's what they upsell against?
Akshat Choudhary
14:23>> Yes. Number of sites plus some of the features.
Nathan Latka
14:27Yeah. Interesting. What feature is the number one reason people upgrade?
Akshat Choudhary
14:32>> I think people spend as they get used to the platform, they they want more security. Then we have some add ons available, like we have real time backups for WooCommerce store, for ecommerce store. So we have these add ons which really add up to significant sums of money for people to upgrade. So we basically the business that we are in, you know, we keep, as we add features, try and do
15:02>> it in such a manner that we can get more and more we create more and more incentive for customers to upgrade.
Nathan Latka
15:09Mhmm. Mhmm. No. That makes a lot of sense. Now, if we wanna calculate growth rate, what did you what would you grow revenue out over the past twelve months?
Akshat Choudhary
15:18>> I can't share that. Because the Yeah. Like I mentioned, right? There are certain factors which we cannot share, but we have been growing healthily at least 30% a year.
Nathan Latka
15:28Okay. Got it. So you grew at least 30% over the past twelve months.
15:32>> Yeah.
15:32Okay. Very cool. I mean, so so if you keep growing at 30% per year, mean, feels like maybe not this year, but maybe next year you could potentially break 10,000,000, right? Or maybe the year after that, 2024, 2025?
Akshat Choudhary
15:43>> Hopefully. Yeah. So we are being aggressive Today today, I think we are better placed than we have ever been to grow faster than we have ever been. So
Nathan Latka
15:51What do you remember the year you passed a million in revenue? Was it like 2013, 2014?
Akshat Choudhary
15:56>> It was, I think, 2016 or 2017. 2016, 2017.
Nathan Latka
16:012017. Okay. Now we can't end this, Achash, without talking about your growth. You've signed up 20,000 customers. That's a ton. How have you signed up so many customers?
Organic SEO as Primary Growth Driver
Akshat Choudhary
16:11>> So WordPress is a huge ecosystem. The websites, like every business has a website.
16:16>> Right? And there are millions and millions of websites. So the problem we are solving is essential to every business.
Nathan Latka
16:23Well, let's be really specific. Right? You how many signups per month do you get from the WordPress marketplace?
Akshat Choudhary
16:31>> You know, we actually don't get that many sign ups on the WordPress marketplace. We get it mostly through word-of-mouth and organic traffic.
Nathan Latka
16:39Got it. Okay. How do people find you organically? So one website has installed you. Do you have, like, a powered by BlogVault button or something?
Akshat Choudhary
16:47>> Organically, plays a role. A lot of articles talk about us because we have been around. So when you have a SaaS product which is ten years in the making, brands get created, micro mini brand gets created.
Nathan Latka
17:00What's your top keyword? What keyword drives you the most traffic?
Akshat Choudhary
17:03>> I can't share that.
Nathan Latka
17:05I can just look it up.
Akshat Choudhary
17:06>> I can look it up. But we get, like, frankly, a large number of keywords, but the reason we don't share it is you can look it up, but it's a very competitive space. So I don't want to arm my people.
Nathan Latka
17:20Yeah, anyone can look it up. Anyone can look it up on SEMrush or Ahrefs. Why don't you just save me the time and name one or two keywords?
Akshat Choudhary
17:26>> So there are so many, like, the the
Nathan Latka
17:30Don't give me your best one. Give me, like, your third or fourth best one.
Akshat Choudhary
17:34>> No. I'm just thinking about it. Like, we we we would we would rank for all sorts of stuff,
17:43>> random stuff like how do you configure a WP config file. So we have a long range of this thing, and you would be surprised by the number of search volume we get because of it. So those are also there are so many factors over there. Which doesn't show up in fact, if you had asked me on day one whether that keyword will rank and give me so much traffic, I would have been like, I'm crazy. We
18:06>> ended up writing that article or or with being oblivious to the potential. Mhmm. Mhmm.
Nathan Latka
18:13Interesting. Okay. That makes a ton of sense. So SEO now who do you have someone in house running your SEO?
Akshat Choudhary
18:19>> Yes. We do.
Nathan Latka
18:20I see. How did you find that person for people listening that wanna hire their own SEO in house person?
Akshat Choudhary
18:25>> It was we we we went through the different we posted the jobs in different forums, and we got very lucky. I think this person came through one of the local forums in India.
Nathan Latka
18:36What was that forum about?
Akshat Choudhary
18:37>> Job book job forums in India. I believe it was Indeed. The I'm not sure. Like, we posted it in a bunch of places, and we got lucky. Like, finding finding good finding good talent is you have to get lucky.
M and A Offers and Valuation
Nathan Latka
18:51Yeah. What's his name or her name?
Akshat Choudhary
18:54>> So it's Bhuish is excellent, but he's no actually, he's he's left BlogVault just this month, just fifteen days ago. So
Nathan Latka
19:03So you replace you have to replace him now?
Akshat Choudhary
19:05>> Yeah. We have to replace him now.
Nathan Latka
19:07Interesting. Okay. There's a lot of people buying companies in the space. Obviously, Saeed comes to mind. There's a lot of other people. I assume you've gotten M and A offers before, have you?
Akshat Choudhary
19:16>> We've got, but we are not really looking to sell.
Nathan Latka
19:20I totally understand that, which is great. I'm curious, though. What's the highest offer you've gotten even though you said no to it?
Akshat Choudhary
19:25>> We haven't we haven't entertained anyone. So we don't while people have sent feelers, we have have been very clear because we are better positioned today. We have a better team.
Nathan Latka
19:37Yeah. Actually, I'm not disagreeing with any of that. You're doing the founder you're answering this like a founder, which is fine, which is we're not for sale. We're better positioned, but that's not my question. My question is just what's the most anyone has even hinted of offering?
Akshat Choudhary
19:47>> No. So if it's the good thing is once you let people know that you're not looking for to sell, then they know. They don't, they know that
Nathan Latka
19:55So no one's actually made you an offer? No one said,
Akshat Choudhary
19:58>> I'd Yeah. Like And we have not entertained it at all. So we have shut it out I see. Right off the bat.
Nathan Latka
20:02What would you what would you value the business at today?
Akshat Choudhary
20:06>> I don't know. We are very conservative. So maybe maybe say four four to five x revenue is what we would value value.
Nathan Latka
20:12So what? Like, $20 or $30,000,000 bucks, something like that?
Akshat Choudhary
20:14>> Some some some small
Nathan Latka
20:15I mean, WordPress comes along and offers 30,000,000 all cash up front, don't you have to sell? I mean, it's a perfect partnership.
Akshat Choudhary
20:22>> No. We don't. Like I mentioned, it's money is not affected because
Nathan Latka
20:27It has nothing to do with money. WordPress is your perfect partner. If you're trying to help small businesses manage their websites, why wouldn't you sell to someone like WordPress?
Akshat Choudhary
20:34>> Their biggest competitor. So I would be like, I'm here to kick their ass. So
Nathan Latka
20:40You wanna beat WordPress even though you play in their ecosystem?
Akshat Choudhary
20:43>> So Automattic is the company, yes. And we would love to yeah. We think we have a better product than them and which is what's exciting about the whole thing.
Nathan Latka
20:51Sorry. I thought WordPress owners weren't installing your app on top of the WordPress instance.
Akshat Choudhary
20:57>> So WordPress is an open source software. Right? And the the the there's a company, Automattic, who's
Nathan Latka
21:06I know Automattic. We've we've had Matt we've had Matt Mullenweg on the show before. Exactly.
Akshat Choudhary
21:09>> And he's talking. Right. So yeah. Yeah. Right. So Matt Mullenweg Matt Mullenweg's company create
21:17>> Matt Mullenweg created WordPress WordPress, but Matt Mullenweg's company also plays makes software for WordPress.
CAC and Paid Advertising Experiments
Akshat Choudhary
21:26>> Okay? So that like, frankly, the disjointed thing, and there's a bit of confusion there. But what we what we do is we play in the open source. We so our customers use open source version of WordPress.
Nathan Latka
21:37Oh, understood. Understood.
Akshat Choudhary
21:39>> And not what Automattic sells.
Nathan Latka
21:41Got it. Got it. Well, hey, listen. We're out of time. Last quick questions here. What are you spending to get a new $100 a year customer CAC wise?
Akshat Choudhary
21:48>> So most of it is organic. So it it it's it's a marketing team, content team seller.
Nathan Latka
21:54Did you spend anything last month on paid ads?
Akshat Choudhary
21:57>> Last month we have experimented, but we don't it's it's just these are just experiments.
Nathan Latka
22:02Okay. Got it. Well, let's wrap here then with the famous five. Number one, what's your last book that you read?
Famous Five Rapid Fire Questions
Akshat Choudhary
22:07>> Last book I read would have been it's the book by the money. Let's call it Atomic Habits.
Nathan Latka
22:17Number two, is there a CEO you're following or studying?
Akshat Choudhary
22:20>> It's been a long time. So Jason Cohen, who founded WP Engine, so I closely follow what he does.
Nathan Latka
22:28Number three, what's your favorite online tool for building BlogVault?
Akshat Choudhary
22:32>> I think Google Suite is something which we swear by.
Nathan Latka
22:37Number four, how many hours of sleep do you get every night?
Akshat Choudhary
22:39>> Eight hours.
Nathan Latka
22:40That's good, Akshat. And what's your situation? Married, single, kids?
Akshat Choudhary
22:45>> Married with with a daughter.
Nathan Latka
22:47Okay. One kiddo. And how old are you?
Akshat Choudhary
22:49>> I'm 39.
22:50>> 39.
Nathan Latka
22:51Last question. Something you wish you knew when you were 20.
Akshat Choudhary
22:55>> That I'm extremely fortunate. Mhmm.
Closing Summary
Nathan Latka
22:58Guys, there you have it. BlogVault launched as a side project back in 2010. They now do millions of revenue, 35 employees, bootstrapped and profitable. They paid out hundreds of thousands of dollars across their profit sharing plan last year. Their employees, again, mainly based in India, 16 in Bengaluru. Akshat now scaling nicely with three key products, all helping folks built on top of WordPress secure their sites, BlogVault, MalCare, WP remote. We'll see what happens next. Akshat, thanks
23:23for taking us to the top.
Akshat Choudhary
23:24>> Thank you so much for having me again.
Nathan Latka
23:28One more thing before you go. We have a brand new show every Thursday at 1PM Central. It's called Shark Tank for SaaS. We call it deal or bust. One founder comes on, three hungry buyers, they try and do a deal live and the founder shares back end dashboards, their expenses, their revenue, ARPU CAC, LTV, you name it, they share it and the buyers try and make a deal live. It is fun to watch every Thursday 1PM
23:53Central. Additionally, remember these recorded Founder interviews go live. We release them here on YouTube every day at 2PM Central. To make sure you don't miss any of that, make sure you click the subscribe button below here on YouTube, the big red button and then click the little bell notification to make sure you get notifications when we do go live. I wouldn't want you to miss breaking news in the SaaS world, whether it's an acquisition, a big
24:16fundraise, a big sale, a big profitability statement or something else. I don't want you to miss it. Additionally, if you wanna take this conversation deeper and further, we have by far the largest private Slack community for B2B SaaS founders. You want to get in there. We've probably talked about your tool if you're running a company or your firm if you're investing. You can go in there and quickly search and see what people are saying. Sign up
24:38for that at nathanlatka.com/slack. In the meantime, I'm hanging out with you here on YouTube. I'll be in the comments for the next thirty minutes. Feel free to let me know what you thought about this episode and if you enjoyed it, click the thumbs up. We get a lot of haters that are mad at how aggressive I am on these shows, but I do it so that we can all learn. We have to counter those people. We
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