Startups For the Rest of Us
Episode 524 | Bootstrapping a Commodity SaaS
Nov 24, 2020
Michele and Mathias Hansen, co-founders of Geocodio, share their journey of bootstrapping a SaaS application in a crowded market. They discuss the importance of audience feedback and how it shaped their growth over 6.5 years. The Hansens delve into innovating within a commoditized space and the challenges of launching a HIPAA-compliant enterprise pricing tier. They emphasize the significance of customer relationships and a pay-as-you-go model that enhances affordability and flexibility for their users.
32:18
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Quick takeaways
- GeoCodio distinguishes itself in a commoditized market by offering flexible data usage, addressing limitations imposed by competitors.
- Customer feedback plays a crucial role in shaping GeoCodio's product roadmap, ensuring enhancements meet real user needs and expectations.
Deep dives
Founding and Growth of GeoCodeo
GeoCodeo, co-founded by Michelle and Matias Hansen, specializes in hassle-free geocoding services, enabling users to convert addresses into coordinates and vice versa. The service has evolved to include features such as correcting misspellings and integrating US and Canadian census data. Although the platform's initial launch garnered significant attention on Hacker News, the founders were surprised to see limited immediate revenue, earning only $31 in their first month. This initial feedback, combined with growing interest from potential customers, fueled their motivation to innovate and improve the service over time.
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