SaaS Interviews with CEOs, Startups, Founders EP 493: DocHub $90k MRR, 15M Users To Make Document Signing Easy with CEO Chris Devor
Nov 29, 2016
23:16
Chris Devor, founder of DocHub and other extensions. DocHub allows you to view, edit, and sign PDFs online for free to streamline the exchange of documents. Listen as Chris shares how DocHub is different from their competitors and why he won't easily jump into offers for a share of his company.
Famous Five:
- Favorite Book? – N/A
- What CEO do you follow? – Elon Musk
- Favorite online tool? — New Relic
- Do you get 8 hours of sleep?— No
- If you could let your 20-year old self, know one thing, what would it be? – "I would have taken Computer Science and it would probably make my life easier"
Time Stamped Show Notes:
- 01:40 – Nathan introduces Chris to the show
- 02:16 – Chris started DocHub 3 years ago
- 02:57 – DocHub integrates with different providers
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- 03:17 – DocHub can be opened directly from Gmail
- 03:30 – The signature looks real
- 03:48 – Number of users is 15.4 million and 52.2 documents
- 04:18 – What does 15 million users mean?
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- 04:29 – For every one document opened up equates to one user
- 05:08 – The monthly recurring expense led Chris to having a paywall
- 06:57 – Chris runs several of the operations
- 07:16 – Number of paying users in October is around 5,000
- 08:00 – MRR in October is about $95,000
- 09:30 – Chris owns 100% of DocHub
- 09:43 – Team size
- 11:00 – In the last 30 days, DocHub had 1600 new subscriptions and 650 new cancellations
- 11:21 – DocHub has 30-day free trial
- 11:40 – DocHub's revenue churn is 75%
- 12:23 – When can an investor invest or buy DocHub?
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- 12:40 – It is still too early and Chris hasn't tried new features
- 13:38 – Chris is finding a good valuation for their company
- 15:40 – Nathan shows Chris a $200,000 check asking how much equity Chris is willing to give
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- 16:25 – "It's too complex"
- 17:10 – Would you consider an offer for $5 million?
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- 17:13 – "I will think about it"
- 18:50 – Connect with Chris through his website
- 20:19 – The Famous Five
- Key Points:
- A free trial is an EXCELLENT way to attract new customers—including a paywall helps, too.
- Always continue to BUILD and EXPAND your company.
- Choose a type of degree or diploma that will give you MORE opportunities in the future.
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 the quality of Toptal developers.
- 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.
- Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
- Drip – Nathan uses Drip's email automation platform and visual campaign builder to build his sales funnel.
- DocHub.com – Chris's business website
- Show Notes provided by Mallard Creatives