$4.5m on Ebay, Now SaaS Hits $25kMRR to Help Sellers Sell on Ebay with CrazyLister CEO Victor Levitin

victor-levitin

In Episode #436, Nathan interviews Victor Levitin, co-founder and CEO of CrazyLister. Prior to CrazyLister, Victor ran a retail business that he drove from $0 to $4.5M in revenue in just three years. In fact, it did so well it won an eBay award for highest conversion rate. Victor channels his eBay retail experiences through a blog called “eBay Sellers Journey to $100K a Month” where he helps eBay sellers avoid mistakes and grow their business the right way.

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Famous Five:

  • Favorite Book? – Elon Musk Biography
  • What CEO do you follow? – Alex Turnbull
  • Favorite online tool? — Intercom
  • Do you get 8 hours of sleep?— “About 7”
  • If you could let your 20 year old self know one thing, what would it be? – “Teach myself how to code and learn the balance”

Time Stamped Show Notes:

  • 01:37 – Nathan introduces Victor to the show
  • 02:08 – What is CrazyLister and how does it make money?
    • 02:16 – Created for sellers
    • 02:50 – Similar with creating websites
    • 03:28 – Built-in to eBay’s API
    • 03:40 – You have to know how to code to use CrazyLister
  • 03:49 – Pricing scheme
    • 03:54 – Plans based on the number of listings
    • 04:05 – Monthly RPU
  • 04:20 – CrazyLister is founded in late 2013
    • 04:33 – Victor was 29 then
  • 04:40 – Victor has always been an entrepreneur
    • 05:05 – He was a seller before
  • 05:14 – Shifted to software because of the entrepreneurial bug
  • 06:20 – Shared equity
  • 06:40 – Number of paying customers
  • 07:02 – Total revenue in 2015
  • 07:15 – January 2016 – from premium to paid
    • 07:40 – 14-day free trial
  • 07:55 – MRR
  • 08:50 – Pricing on the website
  • 09:15 – Actively doing customer development
  • 09:41 – Metrics customers have to hit
  • 09:58 – Growth churn per month
    • 10:08 – Typical monthly churn of SaaS companies
    • 10:35 – First month with monthly churn
  • 11:40 – Lifetime value
  • 12:00 – What are you going to pay for a new customer?
  • 12:28 – Team size and located in Tel Aviv, Israel
  • 12:45 – Self-funded or crowd raising
    • 13:01 – Equity round
      • 13:22 – Valuation
  • 13:33 – Victor feels they’ve exceeded the valuation
    • 14:20 – Will never sell
  • 14:45 – Content marketing drives traffic to Victor’s company
  • 15:47 – August expenses
  • 16:20 – Connect with Victor thru his LinkedIn or Facebook
  • 18:40 – The Famous Five

3 Key Points:

  1. Know your priorities and maintain a balanced life.
  2. Keep moving—don’t stay in your comfort zone, stagnation is death.
  3. Take care of your customers—know their needs and find out how you can help them.

Resources Mentioned:

  • Toptal – Nathan found his development team using Toptal  for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal  developers.
  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
  • LinkedIn – Victor’s LinkedIn account
  • Facebook – Victor’s personal Facebook account
  • Show Notes provided by Mallard Creatives