Open Startup Report
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#003 November 2021 // Open-Startup-Report

Luca Röhrborn

August 19, 2021

Introduction

This month we were able to increase our revenue by 74% to 224,84$ in total. Nevertheless, we are still not profitable. To become profitable, we need about 18 more paying customers. Seeing customer growth of 7 paying customers this month I’m optimistic to hit this goal by the end of 2021.

BrandAdvocate in Numbers - September

  • 💸 MRR (Monthly-Recurring-Revenue): 224,84$ (+74%)
  • 👩 Active Merchants: 160 (+35)
  • 👀 Visitors Website + Shopify App Store Page: 200 (-5,6%) 432 (+4,9%)
  • 📱 Generated Instagram Stories: 77 (-9,5%)
  • 👥 Gathered Instagram Accounts: 169
  • 💳 Expenses:  558,50$
  • 🧾 Profits/Losses: -333,66$

Feature Releases - September

  • nothing new here - we optimized our app backend for further developments & testing.

👩 Customers (Installs / Uninstalls)

We currently have 160 installations and a user growth of 33%. We had 11 (21% of new customers) signups for the paid plan & 4 cancelled paid plans. Those 7 new customers in the paid plan could result in 133$ additional MRR next month as well as the following months. General Churn Rate is 40/73 = 55%.

💸 MRR (Monthly-Recurring-Revenue)

We had total revenue of 224,84$.

💳 Costs

  • 23,75$ (20.11€) Accounting-Software
  • 9,39$ (7,95€) E-Mail Provider (Mailjet)
  • 7$ Docker Hub
  • 19,58$ (16,80€) Microsoft Teams
  • 17,60$ (15,10€) Server
  • 15$ Atlassian Products
  • 466,18$ (400€)necessary payouts

Total = 558,50$

Even though we were able to increase our earnings by 67% we are having a loss of -333,66$.
(For profitability 18 more paying customers are needed.)

What else happened in September!?

In September, we heavily concentrated on our backend structure to accelerate development for upcoming features.


Join the discussion below my LinkedIn Post: Link