Created by Rishabh Srivastava, Founder of Loki.ai
This summary was largely done for my own note-taking, sharing it just in case it adds more value to other people.
I have no affiliation whatsoever with anyone in this note. This is a summary largely taken for my own reference, and may contain errors :)
Context
Source URL:
Why is it important: ...
Keywords
...
Summary
...
Highlights
- Simple online video editing. Canva for video
- Going after subtitling market mostly
- $12/month plan and $25/month plan
- 25% of revenue is in the bank to have a buffer
- Now have a team of 20. Used to be just 4 people 14 months ago. Growing pains are hard. Had to learn how to do management
- Keep showing your work. Keep sharing what you’re building and what you’re going to do. If it’s B2B, going to conferences etc really helps. If it’s more B2C, do a lot of reddit and producthunt
- Getting your first 100-1000 users is easier when you’re free. Veed started out as a free product for 8 months. Grew from 0-30k monthly users because it was a free product with low barriers to entry
- When they started having paid plans, converted 10 people on the first day
- When the product first launches, it’s really shitty. Gets better and better over time. If you start launching with a paywall, you may be making your life way too hard because you’re trying to launch a perfect product in the absence of user feedback
- Right now, still have a free plan but it has the watermark
- Now that they have a lot of revenue, they have a full time content marketing person who’s making YouTube videos. Channel gets about 8k views per day and converts a lot of people into paid users
- Are also doing product engineering for growth hacking. Making a screen recorder etc