Karma

Peer recognition & appreciation on chats: rewards & reports

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Needed something more than ++plusplus bot provided. Built our own solution and improved it to suit our existing digital business needs. Less than a year ago, we realised that other people may be interested in this too.

March 27, 2020 Karmabot.chat weekly update, week 81
  • Feb 26-Mar 3 $6,403.16
  • Mar 4-Mar 10 $3,845.25
  • Mar 11-Mar 17 $2,473.66
  • Mar 18-Mar 24 $2,329.82

ARR: $156k (+1% vs. previous week)
ARPU: $69 (+1.5%)
Lifetime value: $6,629 (+14%)
Churn: 2.8% 3x up due to the virus thing.

---

  • Current MRR: $12,946 (+8% vs. February) Slightly below the 10% goal.
  • Hyper-active users total: 10,107 (+3.4%)
  • Rolling 4 weeks total: $15,051.48(+3%)
  • Total paying customers: 188 (0)
  • NPS: +33, still experiencing ‘this is too expensive’ effect.
  • MRR retention rate: 104% !
  • Customer retention rate: 96.3% Virus effect.

Karma for Slack:

  • 3,012 (+2%) teams.
  • 116 (-3) paying teams.
  • Active users who gave/received karma in the last 30 days: 7,990 (0)
  • Average new teams per month: 119 (+2%)
  • 169 (+17.3%) teams on trial. Positive Covid-19 effect: more registrations, more trials.
  • 151 (0) free teams with karma last week.
  • 2017 (0) customers on free plan.

Karma for MS:

  • Active teams: 4,371 (+7%) This is growing at 2x speed.
  • Paying teams: 57 (0)
  • 907 (+34%) teams on trial. Covid-19 effect.

General:

  • Experiencing 3x new registrations due to Covid-19 effect. With 5% conversion rate we should expect 50+ new paying teams in a month from now. +$5k MRR, $216k ARR potentially.
  • Published new podcast/blog post: The Future of Remote Work
  • Got serious investor’s offer. In-progress.
  • Getting in touch with more angels to secure funding in Q1 2020.
  • Designed better onboarding: https://→.to/s7nppf3
  • Made good progress on Karma API
  • Sorted out Delaware taxes
  • Did a QA round: improved localisation, lots of typo fixes, better text copy
  • Karma visual library cleanup.
  • Got Karma mentioned on Baremetrics blog: https://www.dropbox.com/s/n0ocynwi8jzwgx5/Screenshot 2020-03-27 14.05.17.png?dl=0
March 21, 2020 Karmabot.chat weekly update, week 80
  • Feb 20-Feb 25 $1,888.24
  • Feb 26-Mar 3 $6,403.16
  • Mar 4-Mar 10 $3,845.25
  • Mar 11-Mar 17 $2,473.66

ARR: $154k (+1.5% vs. previous week)
ARPU: $68 (+1.5%)
Lifetime value: $5,792 (+21%)
Churn: 1.3% A bit up due to the virus thing.

---

  • Current MRR: $12,834 (+10% vs. February) Stable, but shaky.
  • Hyper-active users total: 9,767 (+1%) Slow steady growth.
  • Rolling 4 weeks total: $14,610.15 (-2%)
  • Total paying customers: 188 (0)
  • NPS: +10, ‘the price is too high’. We dropped the prices 50%.
  • MRR retention rate: 104.7%% !
  • Customer retention rate: 97.3% Tiny drop here.

Karma for Slack:

  • 2,956 (+2%) teams.
  • 119 (0) paying teams.
  • Active users who gave/received karma in the last 30 days: 7,904 (0) Small insignificant drop.
  • Average new teams per month: 117 (+2%)
  • 144 (+4.3%) teams on trial.
  • 153 (+6%) free teams with karma last week.
  • 2002 (+1%) customers on free plan.

Karma for MS:

  • Active teams: 4,056 (+8.5%) This is growing is 3x the usual speed.
  • Paying teams: 57 (-2)
  • 674 (+44%) teams on trial. Definitely Covid effect.

General:

March 17, 2020 Karma at Pioneer Livestream

Stas Kulesh from New Zealand presents Karma, true bonding for remote teams, to Stripe's Patrick McKenzie. https://www.youtube.com/watch?v=RavKrzkDUSY

  • 26 people indicated their interest after the presentation.
  • We are actively discussing the investment terms with 3 of them.
March 17, 2020 Here's our cumulative daily registrations chart

Here's our cumulative daily registrations chart at https://karmabot.chat

In just under 5 hours we've got as many new customers as we usually get in a day. The remote work is coming.

https://dl.dropbox.com/s/0fvclopu1ho3myf/Screenshot 2020-03-17 14.59.49.png?dl=0

March 13, 2020 Karmabot.chat weekly update, week 79
  • Feb 13-Feb 19 $2,872.36
  • Feb 20-Feb 25 $1,888.24
  • Feb 26-Mar 3 $6,403.16
  • Mar 4-Mar 10 $3,845.25

ARR: $152k (+1% vs. previous week)
ARPU: $67 (0)
Lifetime value: $4,751 (+20%)
Churn: 0.6%

---

  • Current MRR: $12,660 (+10% vs. February)
  • Hyper-active users total: 9,655 (+2%)
  • Rolling 4 weeks total: $15,009.01 (-2%)
  • Total paying customers: 188 (-1)
  • NPS: +28, same newly-subscribed team is NOT happy with their manager’s decision.
  • MRR retention rate: 103.5% !

Karma for Slack:

  • 2,903 (+2%) teams.
  • 119 (+2) paying teams.
  • Active users who gave/received karma in the last 30 days: 7,960 (0) Coronavirus effect?
  • Average new teams per month: 115 (+0.5%)
  • 138 (+12%) teams on trial. Fine-tuning pricing effect.
  • 144 (+1%) free teams with karma last week.
  • 1,979 (+1%) customers on free plan.

Karma for MS:

  • Active teams: 3,737 (+6%) (This is twice higher than usual)
  • Paying teams: 59 (-3)
  • 466 (+6%) teams on trial.

General:

March 6, 2020 Karmabot.chat weekly update, week 78
  • Feb 06-Feb 12 $4,161.18
  • Feb 13-Feb 19 $2,872.36
  • Feb 20-Feb 25 $1,888.24
  • Feb 26-Mar 3 $6,403.16

ARR: $151k (+5% vs. previous week)
ARPU: $67 (0)
Lifetime value: $3,890 (-40%) This is very volatile due to the churn changes.
Churn: 0.9%

---

  • Current MRR: $12,585 (+11% vs. February)
  • Hyper-active users total: 9,464 (-2%)
  • Rolling 4 weeks total: $15,325 (+37%) Got a couple of yearly subscriptions this week.
  • Total paying customers: 189 (+1)
  • NPS: +17, one newly-subscribed team is NOT happy with their manager’s decision. We will look into that and assist them with onboarding.

Karma for Slack:

  • 2,843 (+1%) teams.
  • 117 (-1) paying teams.
  • Active users who gave/received karma in the last 30 days: 7,873 (-3%) Coronavirus effect?
  • Average new teams per month: 114 (0)
  • 123 (-4%) teams on trial. Fine-tuning pricing effect.
  • 136 (-1%) free teams with karma last week. Generally lower activity on Slack last week. Coronavirus?
  • 1,970 (+1%) customers on free plan.

Karma for MS:

  • Active teams: 3,508 (+2.8%)
  • Paying teams: 62 (0)
  • 445 (-3%) teams on trial.

General:

  • Talked to Pioneer group.
  • Updated the pitch deck: https://j.mp/karma-pitch
  • Updated pricing (again): lower for smaller teams, more expensive for bigger teams.
  • Published two posts:
    — 5 Smart Tactics for Easing Tension in Your Office https://→.to/rz6pazm
    — The History & Future Of Remote Work. Part 1: The Past https://→.to/ud88nby
  • Finalised new onboarding: coding it now.
  • Achieved $12.5k MRR
  • Investor update ignited 2 conversations, discussing the terms now.
  • Working on Karma knowledge-base.
  • Revenue in March (it's been only 6 days!): $6,571 🚀
  • New feature launched: https://→.to/ssgsux
February 29, 2020 Karmabot.chat weekly update, week 77
  • Jan 30-Feb 05 $2,194.9
  • Feb 06-Feb 12 $4,161.18
  • Feb 13-Feb 19 $2,872.36
  • Feb 20-Feb 25 $1,888.24

ARR: $144.3k (+4% vs. previous week)
ARPU: $64 (0) Stable
Lifetime value: $6,408 (+20%)
Churn: 0.1%

---

  • Current MRR: $12,025 (11% vs. January)
  • Hyper-active users total: 9,671 (+5%)
  • Rolling 4 weeks total: $11,115 (-2%)
  • Total paying customers: 188 (+4)
  • NPS: +57

Karma for Slack:

  • 2,843 (+1%) teams.
  • 118 (+5) paying teams.
  • Active users who gave/received karma in the last 30 days: 8,049 (+5%) Stable growth.
  • Average new teams per month: 114 (0)
  • 129 (0) teams on trial.
  • 138 (+10%) free teams with karma last week.
  • 1,948 (+1%) customers on free plan.

Karma for MS:

  • Active teams: 3,508 (+2.8%)
  • Paying teams: 61 (0)
  • 464 (-3%) teams on trial.

General:

  • Talked to Pioneer group.
  • Updated the pitch deck.
  • Renamed keywords → triggers.
  • Karma API doc is in progress
  • Sorted out the taxes for the US entity of Karma
  • Added more fun gifs: https://→.to/wb465pr + https://→.to/u7y52fz This’ll definitely take us to the Moon.
  • Cleaned up Karma design repo.
  • Designing Karma app further https://→.to/ttmqvv6
  • Achieved $12k MRR
  • Investor update sent
February 21, 2020 Karmabot.chat weekly update, week 76
  • Jan 23-Jan 29 $2,180.91
  • Jan 30-Feb 05 $2,194.9
  • Feb 06-Feb 12 $4,161.18
  • Feb 13-Feb 19 $2,872.36

ARR: $140.2k (+4% vs. previous week)
ARPU: $64 (0) Stable
Lifetime value: $5,263 (+117%) Churn is really low this month.
Churn: 0.4%

---

  • Current MRR: $11,684 (15% vs. January)
  • Hyper-active users total: 9168 (+13%)
  • Rolling 4 weeks total: $11,409.35 (-35%) Back to normal after $7.6k yearly subscription.
  • Total paying customers: 183 (+4)
  • NPS: +38 Had issues with MT Teams connectivity, got several disappointed customers.

Karma for Slack:

  • 2,815 (+1%) teams.
  • 113 (+4) paying teams.
  • Active users who gave/received karma in the last 30 days: 7,651 (+16%)
  • Average new teams per month: 114 (0)
  • 125 (0) teams on trial.
  • 129 (-5%) free teams with karma last week.
  • 1,935 (+1%) customers on free plan.

Karma for MS:

  • Active teams: 3,421 (+3%)
  • Paying teams: 61 (-1)
  • 480 (0) teams on trial.

General:

  • New blog post and podcast (!): Workplace Bonding in a Digital Era https://→.to/uy6vvnk
  • Investment proposition is being reviewed.
  • Talked to Pioneer group.
  • Updated the pitch deck.
  • Launched custom ‘Your trial ends soon’ email
  • Designed Karma mobile app
  • Designed Rewards
  • Launched new values on Slack
  • Introduced new Karma Values on MS Teams
  • Fixed distribution issues on MS Teams
  • Got rejected by one of the VCs, we’re too small for them.
  • Karma Slack sidebar theme: #1C2E39,#071013,#CA8415,#FFFFFF,#111111,#EEEAE7,#FD992C,#FF715B (Simply copy and paste that onto your Slack.)
  • Got 100 followers on IndieHacker https://www.indiehackers.com/product/karmabot
February 18, 2020

#1C2E39,#071013,#CA8415,#FFFFFF,#111111,#EEEAE7,#FD992C,#FF715B

Karma theme for your chats! Simply copy and paste that onto your Slack.

https://www.dropbox.com/s/6a9g7alb7utqnmi/Screen Shot 2020-02-18 at 12.05.02 AM.png?dl=0

Proceed with caution!

Needed something more than ++plusplus bot provided. Built our own solution and improved it to suit our existing digital business needs. Less than a year ago, we realised that other people may be interested in this too.