How Fleeq CEO Shai Wolkomir grew Fleeq to $48K revenue and 400 customers in 2018.

hello everyone my guest today is shai wokomir he uh cr helps create share localize and track customer facing videos and gifts in minutes he's the tool is built for support sales training hr and product teams it's called fleek no camera product crew narrator hosting needed we'll jump into it today shy are you ready to take us to the top let's go okay so tell us what the company does and if you're a pure play sas model or not so sure so flicks very simple in concept what we've done is we've created a format that lives somewhere between a classic presentation or a you know a powerpoint deck and a video uh we realized that then organization loves to provide reach media communication internally or externally whether it is for an employee or for a customer but creating a video is pretty hard updating a video is very hard i mean if it's for support usage for pre-sales for employment boarding and the like so think of flicks a very simple concept think of something like you take a screenshot of your dashboard and then you go with your mouse and you say something like i want to talk about this i want to talk about that i want to talk about this and then you write a sentence or two here you can see the password location et cetera et cetera you click on the button and it all turns into something that relates to a video so it's an html format that lives that drives the talks with a voice to text or your voiceover but it's very easy to to manage to update to share no hosting et cetera and the beautiful thing about flick is given that it's an html format its extendability is enormous aka tracking is embedded immediately so you can see where the user is going and what he's doing while he's watching the flick analytics is automatically embedded into your user flow with google analytics key et cetera et cetera we are a sas model based on seats uh that's the business model for the product and that's like in a very high nutshell that's great and just give me a general sense of the customers you're serving what are they paying per month on average so uh it relates to the size of the team we do have a sizable number of smbs and smes meaning that there's small teams like agencies like we'll talk about the diversity of the market and industry that are using flick but you can see very very small teams of two three creators that we call them in the platform but we have enterprises as well and there then we can see seats from 50 to 100 to 200 and like it's very based on the number of the people within the organization beyond the fact that it's a land and expand strategy where one team might get that product and then it jumps into a technical marketing team and hr team etc so should i just because i know you have tons of cohorts here based off size but what give me an average what's the average team pay per month would you say um so the price per seat is 10 bucks yeah so you would see some somewhere between 15 to 22 on the small smbs and the big guys pay on an annual base somewhere between three to 20k and again it's sizable it's just based on the dependency yep which um well i guess we'll get back to that in a second give me more of your background when did you launch the company what year so uh it's it's a pretty funny story but basically it it's the company itself is not about flick it was actually an offspring from a different from a whole different product you can call it a pivot or whatever but we're a tech service based company from 215 we didn't send it to the cloud product the cloud cover we did uh with a company called elasticode which did mobile onboarding for mobile native apps basically you would go online you would create some sort of an experience and it would land within your mobile app uh but we saw a lot of challenges within that realm and the main three was that uh the market was not big enough in the sense of mobile is great but the number of companies that are willing to optimize their product using a third-party integration within the mobile native app is much smaller than expected the there was no instant gratification in the sense of from the moment you were seeing the product you're getting value there's tons of time and the integration was very long thus we took that technology and we played around with it and we added voice and it took it to the web and then we realized after showing it to a couple of people that's some sort of a video environment experience and this is how it was launched yeah officially launch it yeah so it's 2018 this year it was uh it was uh on january we set the product uh to market got it that's great so 2018 that's great now did you where were you before me did you quit a big corporate job or you know where where was your head at well before that i was i was in cyber or network security i worked with checkpoint with rsa with these companies on the research side of things and then i switched over to a whole different story got it okay very good and then fast forward to today so how many seats are on your platform so uh currently there's a freemium model where more than 10 000 users on the platform itself more than 25 000 flicks in the air well and give me a sense too right so 10 000 free seats but how many are actually paying so we did an appsumo uh campaign uh back at the start of the year so a lot of uh a lot of the the number of customers that joined the platform are on a lifetime deal a large assessment yeah let's not count that because that's essentially one-time revenue unless you can figure out how to change them to a monthly plan which is difficult because they just bought lifetime value so let's just focus on monthly paying seats right so just one one point about that uh a lot of our appsumo users are paying not on a monthly base but we've done an appsumo store for them and they're buying in for more value not subscription based but we actually done more money from the absolute campaign within the the platform itself later on is an upsell so that's like that for a second we're still doing some great uh revenue there uh but on a monthly basis from the 2000 customers that are on the platform we have more than 100 customers that are paying and that's beside that's only the self-service product that's beside the number of enterprises that we're seeing on a whole different like not user based but on an annual you know custom sort of uh um um offering that we're doing there so we have um customers shy sorry there was a lot of like different kind of things going around there and i don't i'm i'm confused right so you sell your basic businesses you sell seats at 10 bucks a month you've got 10 000 people using it to some degree whether it's a one-time payment on a lifetime thing or they're using it for free or whatnot how many are paying on a monthly basis on a per seat model across all your logos whether it's a small business or an enterprise uh 120 on the self service but on the enterprise which is a whole different pricing not per seat there's tons of value there like single sign-on et cetera et cetera that's a different pricing we have five enterprises big enterprises with a whole different pricing structure okay so how much if you had to look at your monthly recurring revenue right now what would you put it at uh it's not disclosed but i would say that this year we would we would uh uh get to 180k per year including the absolute why do you i see i get absolutely people on here all the time and it drives me up the wall why would you include appsumo and recurring revenue it's not recurring revenue it's one time for life no no i set a run rate yeah i said run rate for one for 280 i didn't say uh uh four for a reoccurring i didn't say about ar for 2018 i said that the run rate for 2018 would be about 180k including the app supervisor yeah but you don't include one-time payments in a run rate because there's no they're not gonna run those payments aren't running anywhere they're dead they pay once and it's done i agree with that so but why do you do that because you're just i mean when you say when you convince yourself of that in your brain you're just lying to yourself you know it's not recurring revenue so why would you put that in your run rate no i totally agree it's not recorded yeah but by the way i love where you're at right like i'm not like hitting your business everyone has to start somewhere you've found some great ways to use appsumo to get some cash right a lot of money to reinvest that's like a smart move it's just now you got to figure out how to build the recurring stream and it sounds like you're fairly early which is fine i mean i'd love to know what you're actually it sounds like you're maybe at like a couple grand a month right now and you're figuring out how to skill that's correct okay good by the way i think you should own that like everyone has to start somewhere right so you're at four or five grand a month right now how do you get more monthly paying seats how are you gonna scale this thing okay cool so um we are doing a couple of a couple of um strategies on how to get more users one of these is that we've done in our former company as well we're doing small project and putting them on product hunt okay uh like free free like work on the marketing strategy and they're bringing great traffic that...