How Tweet Binder CEO Javier Abrego grew Tweet Binder to $292.9K revenue and 120 customers in 2024.

hey folks my guest today is javier abrego he's�� building a cool tool called tweetbinder.com���� helps you analyze your twitter information�� javier are you ready to take us to the top���� yes all right so you came on uh this must have�� been a while ago i forget it was a while ago give���� us an update where's the company today in terms�� of product what are you guys helping customers do���� yeah well i was at your sew show deal or bust�� about one year ago yeah it was great nathan it���� was great right now tweet binder is actually a�� little bit better than gsb4 what we do basically���� is to analyze information on on twitter we�� are a six people company three engineers���� and 2020 was a very good year for us in terms�� of of revenue and this year we our hope is to���� get the same amount of of revenue than last�� year what did you get due in 2020 revenue wise���� okay here that the latke numbers i have them�� ready here right folks who has them okay in in���� us dollars last year was 440 000 u.s dollars�� and this year we are hitting 300 000 right now���� yeah we hope to get there um to get there at�� the same the same time last year got it so does���� that mean you're doing if you're at 300 thousand�� now divided by you know nine months you're doing���� about 35 000 united states dollars a month yeah�� something like that interesting and and javier so���� it sounds like you're flat year over year why is�� it flat wow you know twitter's growing fast why���� aren't you guys growing yeah good question uh in�� the first years we have uh two lines of business���� what we call the sas you know you get your report�� into binder.com and the services side and we have���� like let's say 60 of our revenue in the services�� uh part of the company we have to kill that���� so we have been growing the let's�� call it the analytics part the sas���� part of the business quite okay and last year we�� are better than last year in terms of of let's���� say the sas business but last year we had a lot of�� requests for custom jobs on like with related to���� covet because a lot of people wanted to know what�� happened around kobe in in twitter last year so���� it was a horrible year for everyone but in�� terms of twitter analytics it was a good���� year interesting okay so that makes sense then so�� today how many customers are paying you per month���� per month our subscription clients they are 120�� at this moment and we that's the mrr side of the���� business what what we have very strong as well�� is the one-off reports you know sometimes you���� don't need a subscription you guys want to see how�� your event went on twitter so just buy one report���� that part of the business we are selling about�� 200 reports a little bit more per per month and���� it's getting us around let me see around 13 000 us�� dollars and our mrr subscription just description���� is about 19 300 sorry 19 300. got it so when you�� add them that's how you get 30 35 000 a month in���� revenue uh yeah and there's a third one because�� we're still doing like these custom reports we���� have like for um except for universities for�� example they want to do something that requires���� a little bit from our site you know like i want�� to for example one example we had one client that���� wanted to get a list of all the doctors medical�� medical doctors of friends that are on twitter���� so we can do that you know so but we have to do�� it ourselves so that's that's the rest of the���� revenue comes from that type of of services and�� it's like i don't know 15 clients per month uh���� got it so so i could you and you charge�� you know between 50 and 200 bucks for���� these one-off reports depending on how much�� history you're pulling for somebody but javier���� if i wanted to ask to pay you and i said javier i�� really want just a list of everyone on twitter who���� has the words angel investor in their bio bio you�� could go pull that list for me yeah interesting���� would i get their email as well no so what what�� data set would i get from you in that report���� you're going to get the number of followers�� the number of following the their location���� where they're based uh if uh i mean the number of�� tweets the number of likes they are getting the���� number of retweets they are getting and then on�� top of that that's the public metrics of twitter���� we can give you like other metrics growth in�� those metrics on engagement rates like those kind���� of things but the email is the email is a private�� part i see on your account and so so you launched���� this business in what year 2013 2013 and are you�� do you own 100 uh 90 and 89 89 who owns the rest���� a small farm here in in spain that we�� closed at the uh founded brown in 2017 100k���� they got a around nine percent of the company�� and the rest of the company is from one client���� and one worker here oh god oh so you�� give your client a little bit of equity���� uh actually it's funny story in less than a�� minute this fund wanted to interview our clients���� to see if it was it was worth to invest in tweet�� binder and when this when this client knew that���� tweetbinder was seeking for funds they wanted to�� invest into inbinder so it was very good for us���� that's very cool so you own eighty-nine percent�� investors own nine percent and then a customer���� plus an employee own the other call it two�� percent yeah that's great so what's the plan���� with the business i know you came on dealer�� bust a year and a half ago uh we had buyers���� lined up there was a nice little back and forth�� uh did you get i forget did you get any offers���� not that day not that day have you had people�� try and buy the company yeah what what what���� are people trying to buy it for less than a�� million us dollars so it's not worth it for me���� we've got two offers two offers and less than�� a million well two and a half and we said no���� but uh one of the things uh uh answering�� your questions one of the things that���� i don't like about tweetbinder is that people�� only use us when they need us so our churn is���� very high this is not a product that you use on�� daily basis because you analyze hashtags or you���� analyze keywords when you need to so sometimes�� it's not useful to get a a monthly subscription���� so let's say we we close around 30 to 40 new�� clients in subscriptions every month but we got���� around sometimes 30 or even more cancels every�� month and we ask our clients we have a form���� say why do you cancel it they don't say because�� the product is bad because they come back it's���� because i don't need you guys right now i will�� come back next next uh next month or in two months���� so we answering your question what we are building�� right now is another product based on twitter���� that require requires that you pay every month�� for example look this is i mean the people are in���� the podcast i'm not going to see this but what i'm�� holding right here is one analysis of nathan latka���� your profile how am i doing actually very�� good do you know you grew in the last month���� 254 followers yeah and actually you are getting�� a lot of retweets and likes as well so what we���� are doing now with this nathan is like we are�� going to launch and this is in exclusive for you���� we are going to launch launch sorry um a product�� that tracks twitter users and we every hour we are���� going to update the metrics following followers�� uh lists retweets likes everything everything so���� every every hour you're going to get updates in in�� the twitter that we bind their dashboard so javier���� i think a lot of founders though fall into this�� trap which is they want to decrease churn they���� want to launch a new product that feels stickier�� but like how do you know that that's what i want���� how do you know someone's going to pay monthly�� for that like i don't want to get hourly update���� like what am i going to do with that information�� is the big question i think with any reporting sas���� the good thing is you can compare with your�� competitors i mean maybe you are not a good���� client actually you can have this for free�� you know and if you want you ask me nathan but���� let's say you are a beer company you want�� to compare your performance on twitter with���� other beer companies so you can group them�� in this product and you can compare what they���� are they are doing we got it we are our client�� what do you need what do you need what can we���� what can we do to stay with us and they ask�� for this so when does this launch javier���� we launched in two weeks okay well we're�� looking for we're recording today on thursday���� september 23rd so two weeks from now i'll be�� like october 5th 6th time frame we'll see or���� october 10th we'll see how that goes um talk to me�� a little bit more about what you plan to do over���� the next 12 to 24 months so do you anticipate�� st do you think you'll raise more capital or no���� no i don't i don't want we don't need it right�� now we are profitable thank god how much do you���� guys how much do you make per month let's we have�� a profit net profit of ten thousand a little bit���� less eight to ten thousand uh us dollars in euro�� it will be like six thousand something like that���� congratulations that's hate right like yeah�� very few sass comments are profitable so���� congratulations yeah it's uh we've been�� profitable for the last two years and one���� year and...