HockeyStack Revenue & Valuation (2024)

[00:00] Hello, everyone. My guest today is Amir Adli. He's an 18 year old who's passionate about making things people need and use. He's tried a lot of things, going from personalized book boxes to a social media app to solve different problems with his friends, and now growing his first software as a service company, hockeystack.com. Amir, are you ready to take us to top? Yeah. Alright. What is hockey stack, and how do you guys make money? [00:21] >> Hockey stack is a web analytics tool that is powerful and simple. So it's a SaaS company. You can create funnels, goals, segments, and get insights with it with no code. [00:35] And and so is this, like, a easier to use version of, like, Mixpanel, would you say, or bare metrics? Or how would you describe it? [00:43] >> So, like, Mixpanel is more of a, like, product analytics tool. Okusec is focused on web conversions. So it's more of a simplified version of Google Analytics and and, like, a faster way of Hotjar, I would say. [00:59] Okay. Got it. So a version Google Analytics plus Hotjar put together. And when did you launch the business? [01:05] >> So it's a little bit complicated because we pivoted from a product analytics tool. So we first started working on analytics in May last year. Like, eight eight months later, this this year in February, we pivoted to HockeyStack, and we started working full time on that, on HockeyStack. [01:25] Oh, great. And now who is we? Do you have cofounders? [01:29] >> I'm sorry? [01:29] Do you have cofounders? [01:31] >> Yeah. I have two other cofounders. [01:33] Okay. Two co did you how'd you guys split equity? [01:38] >> 33. 33. 33. [01:41] That's very nice. You guys just said right down the middle. [01:44] >> Yeah. [01:47] Very cool. Okay. So you split it down the middle. And and how did you decide what to launch with pricing wise? What do you charge for this? [01:55] >> So we recently changed the pricing to domain based pricing. So before, it was, like, one one domain, three domain, 10 domains, and unlimited domains. So right now, we are charging it based on domains, number of domains, and page views. We are testing the new pricing model. We also recently changed like, added a new free plan. It's going well right now. [02:21] And and so when you look at your current customers, what are they paying you per month on average? [02:27] >> So we have lifetime customers and monthly customers right now. We launched on AppSumo. I would love to let tell you that story too. So we have around, I would say, 15 to around, like, 16 monthly customers who are paying on average $50.50 dollars per month. And we have around [02:53] >> it was a bit more than thousand lifetime customers. [02:56] Okay. Tell me about the AppSumo deal. [02:58] >> Uh-huh. So as I mentioned earlier, we we started working on a product analytics tool last year in May. We worked on it for, like, eight months, and during those eight months, we needed an existing data or dataset. So we needed to integrate our product into a SaaS company's product to get some data because the [03:23] >> product that we were building was about giving insights about who is converting well and why are they converting, basically. And I contacted the founders, but none of them agreed to integrate the product. It's understandable. But then we launched this hockey stick on Product Hunt and AppSumo to integrate our Product Analytics tool and get some data so that we can build the Product Analytics tool, it wasn't nothing serious. Then it started getting traction on AppSumo and Product [03:55] >> Hunt. And we launched it on AppSumo in August last year, and we made around $1,000 until February. [04:05] Then thousand? [04:07] >> $1,000. Yeah. And then we started I started working on sales, and we started focusing on hockey stick. And then in one month, we made around $150,000 on AppSumo in sales. And then they like, we were on the marketplace side, and then they, like, offered us to, like, be on the select side of my of AppSumo. And then we we were on the select side for another month. So we were on AppSumo for two months. Now it's [04:39] >> ended, we are solely focusing on monthly revenue. [04:43] So when you were on the marketplace side of AppSumo and you had a $150,000 in sales, how much of that did you get to keep? [04:51] >> We we kept around $9,090,000 dollars. [04:55] Okay. So you kept it around 90,000 there. And then you moved over to the other side where you did your own exclusive deal. So you weren't in the marketplace anymore. How many did you sell when you were not in the marketplace? [05:06] >> On the select side, on the front page, we sold the same amount, but we kept only the 30% of the sales. So we made around $40,000, I would say. [05:19] Okay. So on the marketplace marketplace side, you made 90,000, and then on the select side, you made 40,000? [05:25] >> Yeah. [05:26] Okay. And and so how many total buyers did you have from AppSumo? [05:31] >> I don't know the number, but we sold 3,000 codes. [05:35] Okay. 3,000 codes. So now fast forward a couple months. Are those 3,000 folks converting to monthly plans? Are they the users you wanna go build a big company around? Are they good users? How would you how would you analyze them? [05:50] >> So nine nine hundred of them, like, around around we have around a little bit more than thousand lifetime users. So 900 of them enter hockey sticks dashboard monthly. Around 400 of them enter dashboard weekly, so it's a good number for a lifetime deal. We are not like they're also they also know that, like, we don't build the product for them because they won't ever convert into a monthly customer. But since we first launched the Epsomo deal, [06:24] >> we've like, we added a lot of new features to Akceg, and they were the like, their feedback was the, like, biggest source of inspiration for us. And since then, we really developed the product, and it made the like, our cold outbound and marketing much easier. So it was really beneficial for us. [06:46] If you if you if you built the updated features based off the feedback from the AppSumo, the thousand AppSumo users, why have only 16 of them, one six, converted into a paid plan? I mean, if you listen to them and built what they wanted, wouldn't a lot of them be converting to paid? [07:01] >> Do you mean, like, monthly? [07:03] Correct. [07:03] >> Monthly. Mhmm. So we don't we we haven't offered any, like, monthly plan for lifetime deal customers yet. We are we will test it, I I guess, next week. We will roll out two new features. One is, like, revenue dashboard and one is automatic funnels. We will test it and see how it will go. [07:26] Okay. So so you're giving them all the new features for free right now if they have a lifetime deal? Mhmm. But anyone who comes to you new today has to pay $50 a month? Yeah. I see. Okay. How are you outside of AppSumo and Product Hunt, how are you getting new users today? [07:43] >> Mhmm. So we are doing a lot of SEO and cold outbound. Cold outbound is going well right now. We have been testing it for the last three weeks. [07:54] How does that work? Tell me how you outreach with somebody cold. Where do you use? Where do you do it? [07:59] >> We are using Apollo to prospect and send cold emails. So we are prospecting based on the pain points of different personas. So we have three different personas. One is SaaS, e commerce and agencies. They all have different pain points for analytics. We are using different templates and adding the pain points in them. And when a template works better than others, we use that template and go forward with that. We book around one of my co founders [08:33] >> and me, we are doing it full time right now. We are only doing sales right now and SEO. So we are each booking around five to 10 meetings per week. [08:48] >> But we only started, like, three weeks ago, so right now it's starting to work better. And other than that, we are also testing some new tactics. So we are we will launch a new free survey tool next week on product content and everywhere else. So with that tool, it will be free, and we will have a branding, OKISEG branding. We will get backlinks and some brand awareness. Other than that, we are also publishing a lot of [09:19] >> landing pages for ecommerce and CMS platforms, things like analytics for ecommerce, analytics for WooCommerce, etcetera. It's easier to rank, And it gets, you know, like good traction because the people who are clicking on that are, like, high intent people. So we are also trying a lot of new things to scale the monthly revenue. [09:42] This is great. And when people sign up for the $50 month plan, are they sticking, or or have you had any churn yet? [09:50] >> We didn't have any, like, churn yet, but we were on the, like, we are focusing on monthly recurring revenue for the last month month, like, two months or so. So we didn't have any churn right now. [10:04] >> But, like, I don't know if they will churn. [10:07] Yeah. Well, this is great. You've gone from nothing to $900 a month, you know, very quickly in another two months. So it'll be fun to watch what you guys do next. Have you done this all bootstrapped or did you raise capital? [10:20] >> It's all bootstrapped. We are not thinking about raising right now, but we are also, like, meeting with investors, but we don't think about raising right now. [10:30] Yeah. So why why meet with investors if you're not thinking about raising? [10:36] >> Because, like, it's our first, like, SaaS company. My co founders are 17, and our first developer, like, full stack developer, is 15 years old. So we want to learn how this works and, like investors reach out to us and just we just want to learn how they work and like, how the meetings go. So it's just about learning. [10:59] Yeah. That makes a lot of sense. You guys have a great team. I've heard big things for you. I can't wait to watch it. I'm I'm thankful you made time to come on the show. So let's wrap up here with the famous five. Number one, what's your favorite business book? [11:11] >> Predictable Revenue. [11:12] Number two, is there a CEO you're following or studying? [11:16] >> Let me see you. [11:18] Yum. Yep. Number three, what's your favorite online tool for building your business? [11:23] >> Apollo. [11:24] Number four, how many hours of sleep do you get every night? [11:27] >> Around six to seven. [11:29] Six to seven. And what's your well, I mean, I usually ask married, single, or kids, but I'm gonna assume that you're not married and you have no kids. Right? [11:36] >> Yeah. I live with my friends. [11:38] Live with your friends. Okay. Last question. You're 18. So what's something you wish you knew back when you were 10 years old? [11:44] >> I wish I had, like, I had known that entrepreneurship is really, really hard. [11:50] Guys, there you have it. Hockeystack, they got their first revenue growth. The founders that are 15, 16, and 18 got their first growth launching on Product Hunt and AppSumo. They're a simple version of Google Analytics plus Hotjar put together. They now have a couple customers paying $50 a month. They went from nothing to $900 per month in revenue in under two months. They've done it all bootstrapped. We'll see what they do next. Amir, thanks for taking [12:12] us to the top. [12:13] >> Thank you. [12:16] One 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 [12:40] central. 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 [13:02] fundraise, 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 wanna 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 for [13:23] that at nathanlacka.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 gotta [13:41] push them away. Click the thumbs up below to counter them and know that I appreciate your guys'support. Alright. I'll be in the comments. [13:48] See you.