823: SaaS: Pre Rev SF Based with $3.3m Raised Aiming to Help SMB's Build Mobile Apps, Will People Pay?
Arun Saigal. He\u2019s the co-founder and CEO of Thunkable, a Ycombinator-backed startup in San Francisco. Thunkable is a platform that allows anyone to build their own mobile app without needing to know how to code. Prior to Thunkable, Arun was the lead android developer at Quizlet. He also worked at Khan Academy, Aspiring Minds and Google. He holds a BS in electrical engineering and computer science from MIT.
Famous Five:
- Favorite Book? \u2013 High Output Management
- What CEO do you follow? \u2013 Shantanu Narayen
- Favorite online tool? \u2014 Google Calendar
- How many hours of sleep do you get?\u2014 7-7.5
- If you could let your 20-year old self, know one thing, what would it be? \u2013 \u201cInvesting in others is one of the best ways to invest in yourself\u201d
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Time Stamped Show Notes:
- 01:26 \u2013 Nathan introduces Arun to the show
- 02:13 \u2013 Thunkable is a drag-and-drop tool to make a mobile app
- 02:23 \u2013 The space is quite crowded
- 03:08 \u2013 Thunkable is simple but powerful enough for non-coders to have a powerful app
- 03:20 \u2013 Thunkable is currently free
- 03:34 \u2013 Thunkable has raised $3.3M to date
- 03:59 \u2013 Arun shares why they\u2019ve raised first before implementing a paywall
- 04:07 \u2013 They wanted to hire the team and have the platform that they needed with the money raised
- 04:30 \u2013 They\u2019ll start charging in a few months
- 04:48 \u2013 Thunkable was launched in 2016
- 04:53 \u2013 Team size is 10
- 05:16 \u2013 Thunkable has turned on their revenue for a small stream
- 05:35 \u2013 The charge is a high 5-figures and is an annual contract
- 06:16 \u2013 Long-term model: charge for a premium product
- 06:36 \u2013 When they turn-on their features, that\u2019s when Thunkable will charge
- 07:25 \u2013 Arun saw problems they didn\u2019t know existed from those who were building an app for Thunkable
- 08:30 \u2013 Arun wants to help people who really need an app for free to solve their problems
- 09:00 \u2013 The conversations they\u2019ll have with people who will use Thunkable for profit
- 09:24 \u2013 Target price is $20 a month
- 09:40 \u2013 Arun believes they can maintain profitability
- 10:14 \u2013 Arun believes that SMBs need Thunkable more than the enterprise businesses
- 11:03 \u2013 Thunkable\u2019s goal is to capture most of the apps from the app store
- 12:38 \u2013 December 2017 MRR goal is $10K
- 14:16 \u2013 The Famous Five
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3 Key Points:
- Assist those who need help in any way that you can.
- Choose your timing wisely when it comes to putting up your paywall.
- You learn and grow by investing in other people.
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Resources Mentioned:
- Simplero \u2013 The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
- The Top Inbox \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
- GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
- Klipfolio \u2013 Track your business performance across all departments for FREE
- Hotjar \u2013 Nathan uses Hotjar to track what you\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
- Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
- Host Gator\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
- Audible\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
- Show Notes provided by Mallard Creatives