Revido Revenue (2024)

[00:00] Hey, folks. My guest today is Roderick Nasca. He's a product manager and designer who discovered no code and low code as a way to build a startup without needing a cofounder. Now he's corunning a low code product studio that's helped launch dozens of successful tech startups. Roderick, ready to take us to the top? [00:15] >> Yeah. Let's go. [00:17] Alright. Name a couple of tech companies you've helped launch. [00:22] >> It's a good question. One of the most exciting ones is SwapCommerce. They are [00:30] >> taking trying to take over the exchanges ecommerce exchanges and swaps Mhmm. Market in Europe at the moment. And let me think of another. [00:42] We've got Radar, WeThink, Mangtas. You've launched a bunch of these companies. [00:48] >> We helped launch them. So Yep. We we didn't do them all on ourselves. We mainly did the product side, at least for the MVPs. Radar, I'd say, is a is a pretty exciting product as well. [00:59] Well, so let's talk let's talk about Swap. Right? They're a software company that that make returns and opportunity for growth at ecommerce stores. So how would they engage you? Right? Are you building the initial MVP for them and they're paying you a flat fee? [01:15] >> So, basically, when usually, when someone approaches us, they're usually people who are professionals in a specific field, and they usually have an idea, an experience of a pain point that needs, you know, a SaaS that is very niche for just one type of industry. So we had a couple of clients who had consulted a bunch of very large e commerce brands, And a lot of, you know, the work that they did came to the conclusion that [01:45] >> there is a ton of revenue that's missed on when brands don't have the base the best process in place for exchanges and returns because someone might [01:55] Roderick, sorry. Don't I don't mean to cut you off. Totally understand. I just wanna understand for my audience, they might be thinking, I'm a business person. I wanna launch a SaaS MVP using no code tools. Where do I start? And they might hire you, but I want you to tell them how they would pay you. Do you get paid in equity? Is it a flat fee? How do you work? [02:14] >> It depends. We do accept equity as well. Mostly, it's a flat fee and not really a flat fee for the whole project. It's a flat fee per sprint. And, you know, with startups, after doing the sprint, priorities may change. The road map may change. So it is variable based on that. And we [02:34] So what is give me an example. What would it cost me to pay you to do one of our sprints? [02:41] >> It would be about 6 to 7 k per sprint. [02:44] Okay. And how long does a sprint last on average? [02:47] >> A couple of weeks. [02:49] Couple of weeks. And how do you staff that sprint? Do you have a bunch of engineers you work with and you put them all on, is it just you? [02:57] >> So depending on the sprint. If it's a discovery sprint, you'll usually be working with a PM or designer. And then the subsequent sprints, assuming the designer is done and it was not something too complex, you'll be working with a PM and a developer. [03:14] Okay. And so how many PMs and designers and developers do you have on the Revido team? [03:20] >> At the moment, we are two PMs, two designers, and three developers. [03:26] Okay. And are you which one are you? [03:29] >> I dabble between PM and design. [03:32] Okay. Okay. Very cool. And and was this your business? This was your idea? You launched it this year? [03:39] >> I launched it myself initially. Got a cofounder who joined in very early on, so we are two cofounders at the moment. [03:48] And when did you launch? [03:51] >> Revido was sold upgraded back at the time we started at the end of twenty twenty. [03:57] Oh, 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 [04:20] your Stripe account, you see your valuation real time, you can see what it 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 [04:45] gonna get 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 [05:06] 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 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 [05:32] you're going 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, [05:54] but if 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. Alright. Let's jump back [06:20] Okay. So end of twenty twenty. So you've been operating for about a year and a half at this point, something like that? [06:27] >> Pretty much. Yeah. [06:28] Okay. And in 2020, how many sprints did you guys work on? [06:32] >> I [06:34] >> have no idea, man. [06:36] What about 2021? [06:38] >> I can tell you the number of projects approximately. [06:40] Yeah. Let's do that. [06:42] >> Yeah. So probably around 20 projects, give or take. [06:48] 20 projects. And on average, how many sprints does a project take? [06:54] >> Probably eight sprints. Usually, the first build will be anywhere from four to five, but people, you know, if the product is successful, they definitely wanna iterate at most [07:05] To someone listening right now, if if it's gonna take four to five sprints to get the initial sort of SaaS product launch at 6 to 7 k per sprint, we could take seven k times five weeks or about $35,000 to get an MVP live. Is that right? [07:20] >> Yes. For an MVP, sometimes people just wanna put it in, and that can be done in two sprints even. [07:26] They wanna put up a landing page, you said? [07:28] >> No. Sometimes people might just wanna prototype. [07:31] >> I'll just [07:32] >> to an investor, and that's that's something that you usually cannot launch. You know, you don't have payments or anything like that. But we've also had those people that wanna do that, show it to someone who might be potential customers, and then decide if they actually wanna invest more for, like, perfecting it and getting all the features in for, like, two or three months. Mhmm. [07:53] And how many customers will you work with this year? [07:58] >> It's a good question. So the the trend that so we we've started to work with less customers but bigger customers, and we we kinda like that more as, you know, we were able to focus more on them. And this year, we actually started [08:17] >> trying to launch our own internal products. We tried that with three of them, and one of them is picking up pace and we're [08:23] Which one's that? [08:26] >> It's called Tibuto. It's a [08:28] Can you spell it? [08:29] >> Yep. I can actually send it here. [08:33] Yeah. That'd be great. T r i b u t o. And what does it do? [08:38] >> So Tributo is a mix is a product as a service, I'd say. So it's not really a SaaS per se, but we have built a platform. [08:47] What's the website? Is it .io? [08:49] >> Yep. Exactly. [08:50] AI assisted copywriting. So this is like Jarvis, copy.ai, that kind of space. [08:56] >> It's using those tools and many more, especially aimed at producing content that can help you rank in SEO. Mhmm. Productizing the whole process. Basically, making it feel like a SaaS where you go in, create an account, figure plan, submit whatever you wanna get, and then automatically, you know, you'll have someone assigned to you to get the content that they produce, have an interface where you can add feedback and everything like that. [09:23] Understood. Roderick, I wanna talk more about Tributo, but first, back to your agency. So how many customers again will you work with this year? [09:34] >> Man, that's a good question. I should have made the the calculation so far. We've been very [09:38] What's the range? Let's say, what's your I mean, this is not a complicated question. Like, five, ten, 20, a 100? [09:44] >> So we're working with six right now. [09:47] Okay. Right now. [09:48] >> Yeah. We will have you know, the average length of working with someone will be, like, three months. [09:57] >> I'd say probably it will be maybe thirty by the end of the year if we get small projects. If we get big projects, might be might save money. [10:08] Well, so if you work with 30 customers and they pay on average $35,000, right, so four or five sprints, Right? That that would put you right around a million dollars of revenue this year. Is that about right? [10:19] >> It sounds about right. Yeah. Maybe do more [10:24] you'll do more than 1,000,000 in revenue this year? [10:30] >> I don't think it would be more than 1,000,000. Probably around 900 k in total. [10:35] 800? [10:36] >> Probably 900. [10:38] 900. That's still great. [10:40] >> The the numbers I'm giving you, I definitely need to look at them. It's guesstimate on top of my head right now. [10:46] Wait a minute. Come on. You're a founder. This is dollars, revenue, cash, bank. It's the only I mean, this is what keeps you alive. Right? So somewhere between 800,000 and $1,000,000 in revenue this year is fair. Right? [10:56] >> Yeah. [10:57] Okay. So this is great. So I love this story. So you have an agency. It's doing well. You're sort of a product studio, but then you're saying, hey. We built our own tool. And then you said, quote, it's starting to take off. What does take off mean for Tributo? Is that a revenue figure? [11:11] >> Yeah. Basically, it's a revenue figure we had. So without doing a proper launch, this is actually the first time I'm talking in public about it. We've only mentioned the tool to people in our network that we know who are start ups and need content help, and we already have five large clients. Mhmm. Large clients are really, you know, people who need, like, 40 articles per month, which it's at the very beginning. But for some [11:41] What do you charge for someone that uses Tributo for 40 articles a month? [11:45] >> 1,200 a month. [11:47] 1,200? [11:48] >> Yeah. [11:48] So we can take 1,200 times five customers. You're doing about $6,000 a month right now on revenue on Tributo? [11:55] >> No. Because a few of them, we're we're doing it for free in exchange for feedback, and I do have, you know, intention from them to pay afterwards when it's going [12:05] Is anyone paying already? [12:07] >> Yep. [12:08] How many of the five are paying? Two. Okay. So $2,400 a month in revenue. That's still that's still nice. [12:15] >> Yeah. It's a it's a much better progression than what we had in previous the beginning. [12:20] Yeah. So are you gonna shut down the product studio and go all in on Tributo? [12:25] >> Definitely not. One of our most talented people here is actually focusing fully on that. And, you know, having all the talent within the the studio is really helpful to spin up new solutions, new integrations, or anything that can make it that can help you be able to be more efficient. Mhmm. Mhmm. [12:45] It's great. Now now that you boot you've bootstrapped both Revido and Tributo. Right? [12:50] >> Yeah. [12:51] That's awesome. That's all. Any plans to raise or wanna stay bootstrapped? [12:56] >> Probably not. We we do like to not have any snow pressure and, you know, have the freedom to do what we think are is the best thing to do the right team. [13:05] That's awesome. And you mentioned two PMs, two designers, three developers. So you've got seven people total on the team today? [13:12] >> Yep. [13:13] Okay. Seven. Very cool. Are you hiring or no? You're good at seven? [13:16] >> We're actually onboarding someone right now, and we wanna focus on making our processes even better before hiring them. So probably not in the next month or so. [13:29] Cool. Well, we're rooting for you, man. In the meantime, though, let's wrap up here with the famous five. Number one, what's your favorite business book? [13:38] >> High output management. [13:39] Number two, is there a CEO you're following or studying? [13:45] >> It's a it's a great question. I used to be a great fan of Steve Jobs when I was very, very young. [13:51] >> Yeah. See. [13:52] Number three, what's your favorite online tool for building Revido or Tributo? [13:58] >> Bubble dot [14:00] A bottle? [14:01] >> No. Bubble dot io. [14:02] Oh, Bubble Bubble. [14:03] Yeah. Good no code platform. Number four, how how many hours of sleep do get every night? [14:10] >> Sorry? [14:11] How many hours of sleep? [14:13] >> Seven to eight. [14:14] Okay. And situation, married, single, kids? [14:17] >> Single. [14:18] Okay. And how old are you? [14:21] >> 24. [14:21] >> 24. [14:22] Last question. Something you wish you knew when you were 20. [14:26] >> Man, start earlier. [14:29] Guys, there you are. Start earlier. He launched his product studio, revido.io, at the end of 2020. He'll do between 800,000 and $1,000,000 in revenue there this year across 30 customers. He charges four to seven thousand dollars or 4 to $5,000 per sprint he manages. He's got a team of seven or eight folks right now, but they built their own internal tool called Tributo, which already has $2,000 a month in revenue that's sort of in the Jarvis and [14:53] AI and copywriting space. Five customers using it today, doing 40 articles on average per month. They're gonna lean into that, keep growing and see what happens next. Totally bootstrapped. Roderick, thanks for taking us to the top. [15:03] >> Thanks, Nathan. [15:06] 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 [15:31] 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 [15:53] 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 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 [16:15] for 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 [16:34] got to 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. See you.