120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

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In Episode #465, Nathan interviews Amit Shanbhag, co-founder of RocketReach.co, a company that allows users to lookup email addresses, phones, social links, etc. for over 250 million professionals worldwide. Amit bootstrapped to RocketReach from zero to over a hundred thousand customers including Apple, Google, and Morgan Stanley to name a few. He has more than a dozen patents and started his professional life writing code for geostationary satellites. He loves open water swimming, watching cricket, and spending time with his 4-year old son.

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Famous Five:

  • Favorite Book? – N/A
  • What CEO do you follow? – Marissa Mayer
  • Favorite online tool? — Google Drive
  • Do you get 8 hours of sleep?— No
  • If you could let your 20-year old self know one thing, what would it be? – “Live the moment and enjoy what you have”

Time Stamped Show Notes:

  • 01:53 – Nathan introduces Amit to the show
  • 02:33 – RocketReach is a sales management tool
  • 02:54 – RocketReach was founded in 2015
  • 03:03 – Amit and his co-founder used to work for a SaaS business
  • 03:15 – They tried to get information from www.data.com for user acquisition
    • 03:25 – They realized that the data is 85% inaccurate
  • 03:31 – They tried different tools
  • 04:25 – Team size
  • 04:40 – Completely bootstrapped
  • 04:51 – They tried to raise a small round
    • 05:18 – Went to institution investors
    • 05:27 – The terms were not profitable
    • 05:40 – Amit stopped fund-raising after 6 months
  • 05:58 – They had 10,000 customers in March
  • 06:40 – Companies that are the competition
  • 07:35 – RocketReach is SaaS and has monthly subscription
    • 07:40 – Plans are $ 49, $ 99 and $ 299
    • 07:46 – Salespeople and recruiters are the biggest user base
    • 08:30 – Most of the users are from the $ 99 plan
  • 09:10 – MRR
  • 09:40 – They were doing a lot of outbound in January
  • 10:04 – Most of their users now are from SEO
  • 11:18 – Customers who buy access to RocketReach API
    • 11:38 – They are considered as competition
  • 12:29 – First year revenue
    • 12:45 – Total of $ 15 from October 2015 to December 2015
  • 13:02 – March 2016 is when the growth started
  • 13:40 – Did a deal with 500 startups companies
  • 14:40 – Gross monthly churn
  • 16:40 – Lifetime value
  • 17:17 – Company expenses
  • 18:09 – The quality of data that RocketReach has set them apart from their competitors
  • 18:30 – Comparison of RocketReach and Email Hunter
  • 19:50 – Goal for 2016
  • 20:53 – Decent offer in the SaaS space
  • 21:15 – 2-digit percentage average monthly customer growth
  • 22:15 – Connect with Amit through his website and Twitter
  • 24:00 – The Famous Five

3 Key Points:

  1. First year revenue is not always what you’re expecting.
  2. Improve your product to the point it makes your competitors, your customers.
  3. Live for the moment and enjoy what you have.

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
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the 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.
  • Assistant.to – The site Nathan uses to book meetings with one email.
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel.
  • RocketReach.co – Amit’s website
  • @RocketReachco – Amit’s Twitter handle
  • Show Notes provided by Mallard Creatives

One thought on “120,000 Customers, About $200k MRR, $10M 2017 ARR Goal with RocketReach.co CEO Amit Shanbhag

  1. Amazing interview and unbelievable results in just 1 year! Congratz.

    Amit, curious which service gets used the most — your in-app search or the Chrome extension? we’re considering creating a chrome extension for our SaaS but not completely convinced of the benefits.

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