How Quash CEO Ameer Hamza grew to $550K revenue with a 5 person team in 2025.

quashbugs.com currently helps 20 companies and 250 Engineers identify on average 50 bugs per week which they can then go smash or quash as the URL says the company today is uh seeking 500 000 in a pre-seed round of three million post money valuation that means they want to sell 15 to the company there's three co-founders two others building this so far again the goal now is can they convert these free beta users into real paying customers we'll see if they can do it over the course of the rest of the year hey folks my guest today is Amir Hamza graduating with an interaction design degree from India's top school he first ventured into Honeywell as a product designer after spending two years there leading the design and user strategy for multiple products he launches own product design agency along to his current co-founder picar they built multiple products zero to one for clients in the agency and from there they came together as three co-founders to build quash a platform to make mobile testing faster and easier homes are you ready to take us to the top yes that's right Honeywell you know people think Honeywell they think physical products so just to be clear what do you think mobile testing were you working on like the Honeywell mobile app and that's where you identified this problem uh no uh so Honeywell recently like a couple years back uh came up with their own software Wing where they where their offering is an Enterprise performance solution it's a SAS offering uh it's all uh software focused so Honeywell is going into that that business and that's where I was involved in I was not specifically involved in any mobile applications but I got to got the hang of SAS and B2B products and how they built scratch up because that was a very new vertical for Honeywell so I got that experience there very cool okay so what are I guess give me a customer story today who can you name somebody that's using you uh so uh we have a customer uh riggy riggy is uh uh it's a uh so they make tools for uh content creators uh to match them to uh you know prospective uh deals that they can get that they can advertise using their content so they have a platform for that and they are one of our customers so uh they uh so we uh deployed our POC there uh that was one of the very initial versions that we had created of squash which had very limited capabilities uh but yeah so uh after being deployed there we had a very good response there were some major feature requests that we were getting so that version could the the only thing that that version could do was was light testers you know report bugs directly from the mobile device that they were testing on and then it would just export all of the bugs into a Google sheet uh so then uh after testing that we got some validation from there and they started asking for uh jira Integrations and a dashboard a place to manage all of the bugs that were being so we have right now built all of that and would be uh we would be having a formal version one launch in the coming weeks so are you pre-revenue chair do you have a customer paying you uh we do not have a customer paying us at the moment uh we will be releasing free trials off the V1 of the product in the coming week and we are in deals with some of these companies who are ready to pay us but the first one would of course still be a trial how do you know they're ready to pay you uh we have been talking to them we have uh so they have already been using uh our product whatever uh state it had been up until this point and they are interested in it and we uh how do you know that though um I mean try and use numbers here Hamza so when they're using you did they quash six bucks on average bugs on average per month for the past six months and and that's why you know they're willing to pay I know that the numbers are way higher than that in terms of the bugs being uh reported what's the number so uh an average company an average mobile company reports uh in in India reports uh 50 bucks in a week like that's an average number that we have reached and we um that's for your beta users yes yes okay 50 bugs per week and how many of those bugs do you help them like how many were fixed uh so uh all of them are in fact fake so we do not uh so where we come in is not the the actual task of fixing bugs we our our product helps customers and two ends one is to report the bugs easily and then uh the second uh value proposition that we have is for the developers who need to fix the bugs so we make sure that the tickets that they're getting from the bugs being reported are very comprehensive in terms of that the the session recordings of where the apps crash and the the logs the exact logs of the crash that the developer needs in order to understood and how many times how many of these how I don't mean to cut you off but it's a quick show so I apologize for that how many beta users do you have on the platform today uh 20 customers okay so 20 of those 20 users on average reported 50 bugs last week each uh not 20 users 20 companies using our product uh the number of users would be somewhere around 250. okay so 20 companies with 250 users they reported on average 50 bugs per company last week uh yes okay and when did you launch the beta program what month uh two months back so that would be uh July uh and when did you guys write the first line of code for the platform uh the first line of code was written back in March uh so uh um my other co-founder ayush had been working on uh building this uh individually in his own capacity for like some time now uh because uh our application is also an SDK it's not like something that is like very easy to build and it it takes them some some time and some expertise in terms of knowing Android or iOS and like the the base codes of these uh platforms so uh it has been in the works since March but we launched the beta a couple of months back oh what's going on there YouTube good to see you guys now imagine this you love watching these interviews with SAS Founders but imagine if we took all of the valuation data out from over 2807 interviews I've done manually saves you a lot of time well we've done this we've built the into the beautiful interface inside of founder path check this out I'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for evaluation this year now the secret valuation is there's many different ways to value a SAS business so the reason you're going to see three or four different evaluations inside of your founder path dashboard this is all free by the way is because depending on who's doing the buying of your SAS company you're going to get a different valuation a VC is going to pay a different valuation private Equity Firm is different if you're going to 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 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 not built off random data again you guys hear these interviews on YouTube all these datas are built from real-time valuation data points Founders share with us on the show so traction 1.2 million seed round 3.7 raise they sold 22 percent of their business go in here and filter by the event maybe you only want to 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 going out right now and you're raising your seed round well 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 data set of SAS valuation than what you can get now inside of founder path 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 if you want to check this tool out if you want to jump in and sign up you can check it out for free to get your valuation at this link this link founderpath.com forward slash products forward slash evaluations or if you go to founderpath.com and hover over products click on get your evaluation 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 into the interview so since you worked on it before you is it fair to say he owns more Equity than you do or did you guys split at 50 50. uh could you repeat the question who owns more equity uh he does he does how did you guys have that conversation uh so he uh had been like we had known him for some time like uh the the agency you mentioned about in the bio that I had written for you rather and I were primarily the the two main founders of the agency but I wish the third co-founder he is from a technical background so we would often call him in for some of the development work that we required and then he approached us with this idea that he was working on and uh yeah uh give given the Gap in experience like he's been in the industry for like eight years now but I couldn't I are fresh graduates of college from 2021 batch so yeah we did not really have a problem with the splitting of equity bid show harms or what's I'm just trying to get to the display so the the original guy owns how much and then how much do you and proca own uh so I I would like prefer not to get into the exact numbers of it why in this conversation uh because that's something uh that is this is the trade this is the this is the trade of the show right we've got 20 000 listeners per episode I'm giving you free exposure that sponsors pay for the exchanges you give me information people can't get anywhere else yeah so uh IU Jones half the company the other half is split between placard and I okay and you guys are bootstrapped no outside Capital uh up until now yes but we are in the process of raising Capital at the moment and and I guess why do you guys want to raise Capital obviously that leads to dilution would you absolutely need the money uh yes we would because uh our product is uh development heavy so we would need uh so right now we have only uh our product this has only works for Android but in order to cover more platforms like iOS flutter react we would need a larger development team that we that would you know build it for us and then uh that is the large part of uh growth and acquisition costs that would be involved in order to you know get to a certain goal of customers how much are you looking to raise uh right now we are looking today's uh 500k dollars and what percent of the company would you be willing to sell if you raise that money around 15 okay 15 so you're you're looking for like a 2.5 or 3 million post money valuation on a pre-revenue company yes what gives you confidence that you'll be able to sort of sell that story to an investor uh we have been already in in talks with a lot of investors that we have personal connections with and they uh have been uh like confident about it since the beginning so right now we are talking to a lot of them uh and yeah has anyone given you has anyone given you a term sheet as the lead investor which means they're going to put in more than 50 of the round size uh not at the moment we do have some uh contributions that we have gotten from founders of other companies but they have like they was just sufficient for us to you know go for like three or four months uh but yeah we are still looking for uh a lead investor sorry you people have already given you money but without signing paperwork I guess I don't understand how did you close on the smaller checks if you don't have a lead investor yet uh so the these people are are not investors per se by profession so they they're founders of other companies who happen to have like uh who are interested in uh investing very small amounts and so uh how that works is they invest now and we give them Equity later on when we're closing the round based on how much they had invested what if you don't what if you don't close the round uh we will close the down like there there has been uh paperwork that has been done which uh so it's it's the nearest time at Max that we have uh before we can you know uh until we can delay the conversion of the amount into equity so you send convertible notes on these smaller checks and they all convert yes a future Equity around yes okay got it got it um when you you mentioned again you've got these customers currently using you on a beta motion right so I think you said there's a there's 20 companies with 250 you know developers using it what do you plan to launch in terms of a pricing uh plan uh in terms of a pricing plan right now for the capability that we have developed are uh pricing uh we are thinking of it uh to be somewhere around uh 15 to 20 dollars per user per month uh but of course like we still are pre-revenue so we are willing to experiment with that and we aren't married to like a single number per se how are you testing that price point and when does it go live on the website uh it won't go live on the website for quite a while I'm sure uh because the first uh I would say like five to ten customers that we would get we would not uh we would be negotiating with them in terms of how much value they think we provide them and uh we we will let the market you know uh pick up a price point and see how much we can stretch it before we actually like put it out on the website how many folks are full-time at the team today we have uh five five people uh excluding the three founders and I guess you guys started working on this code back in March 2023 so how have you been paying for food and your rent and personal expenses so up until uh June uh this year all of us did have like the the other primary jobs that we had uh only in June we left the jobs and uh got into it full time so it happened very long all right we're rooting for you guys we're out of time now let's wrap up here with the famous five number one what's your favorite book Hamza what's my favorite book I'm currently reading Don Quixote and that's a brilliant book number two is there a CEO you're following or studying uh is there a CEO I'm following or studying so uh I have been uh like looking closely at the CEOs of some of the uh the testing companies itself so uh Assad Khan from Lambda test is one person that I we uh also I had the chance to get to chat with him as well so that's interesting yeah number two what's your favorite three what's your favorite online tool for building gouache bugs what's my favorite tool for building on uh online for building squash bugs so uh a lot of the work here in building washwork has been like the tech part and I haven't been directly paid very directly involved in it I have been handling the product side so I would say I but I have been using most is uh figma a fig Jam for brainstorming and then of course okay number four how many hours of sleep are you getting every night I think okay and what's your situation married single kids a single single okay and how old are you uh 24. last question something you wish you knew when you were 20. something of which I knew when I was 20 okay uh I would say uh don't really stick to uh uh don't really be very strict about sticking to one plan in life try things out and because you will probably end up where you never thought you would guys watchbugs.com currently helps 20 companies and 250 Engineers identify on average 50 bugs per week which they can then go smash or quash as the URL says the company today is uh seeking 500 000 in a pre-seed round of three million post one evaluation that means they want to sell 15 to the company there's three co-founders two others building this so far again the goal now is can they convert these free beta users into real paying customers we'll see if they can do it over the course of the rest of the year um so thanks for taking us to the top thank you thanks so much Nathan one more thing before you go we have a brand new show every Thursday at 1pm Central it's called Shark Tank for SAS 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 our poo CAC LTV you name it they share it and the buyers try and make a deal live it is fun to watch every Thursday 1 p.m Central additionally remember these recorded founder interviews go live we release them here on YouTube every day at 2 p.m 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 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