Hotjar is a fascinating SaaS company that since its inception in 2014 has grown to over $17m. This post actually looks back at a period of growth in 2015-2016 and is packed full of lessons learned.
"Don’t get ahead of yourself when it comes to investing in systems. Figure out what you need at your stage, and look for the solution that is the best fit. We should have been more critical about the investment, asked for references, and really tested the technical side of implementing a solution instead of simply relying on the recommendation of someone we had just hired."
The increasing number of funding options for startup founders is no news — the topic has been covered by thought leaders for some time. What Matt does an incredible job of here however is digging into the motivations and philosophy of this new generation of bootstrapper-entrepreneurs.
"Sites like indie hackers and events like Microconf serve as dens for founders and creatives that would look at even the 500 Startups approach to funding and say “no thanks.” It’s an ethos that starts with a founder deciding that they know why they’re doing what they’re doing; and that why must be preserved, even at the expense of other things."
Continuing the theme of independent, sustainable growth, Geoff takes an in-depth look at the growth stories of Wistia, Buffer and two other startups — all with very different paths to where they are today.
"While Buffer’s path to independence did not require walking away from a pot of gold and taking on a large amount of debt, the company’s path was both turbulent and admirable in its own right. Laying off employees, watching your relationship with investors who believed in you sour, losing a Co-founder and a CTO, and having it suggested that you might be squeezed out of the company you’ve spent the last 7-8 years of your life building is all agonizing stuff that will keep you up at night."
That's all for this week. Know someone who'd find SaaS Roundup valuable? Please share with them using the buttons below 👇 thanks!