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Joe Thomas
Loom
Near bankruptcy to 10M users after pivoting based on Product Hunt launch
Founder
Joe Thomas
Co-foundersβ’Technicalβ’USA
Commitment
Full-timeExperience
ExperiencedProduct
Video messaging and screen recording platform for work.
Type
SaaSIndustry
Content creationModel
SubscriptionMarketing strategy
How Joe acquired customers
Growth channel
Product Hunt
Also used
Word of mouthCommunities
Tech Stack
Tools used to build Loom
ReactNode.jsAWSStripe
The full story
We were near bankruptcy when we launched on Product Hunt. 3,000 signups in 24 hours saved the company. We pivoted from usability tests to video recording based on what users wanted.
The Pivot
We started as a usability testing tool. Users kept asking for just the recording feature. We listened and pivoted.
Product Hunt Saved Us
We were running out of money. The Product Hunt launch brought 3,000 signups and gave us runway to survive.
Explosive Growth
From that pivot, we grew to 10M users and 120K paying customers. Revenue grew 1,100% in one year.
- PH launch signups: 3,000 in 24 hours
- Users: 10M
- Paying customers: 120K
- Revenue growth: 1,100% YoY
Key Takeaways
1
Product Hunt can save a dying startup
2
Double down on feature with traction
3
Listen to what users actually want
4
Near-death experiences clarify priorities
Originally published onJoe Thomas (Medium)
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Milestone Journey
Joe achieved 4 milestones on the path to $100K ARR
First customer
14 days
October 2015
53% faster
vs median 1 month+3 months to next milestone
$1K MRR
$1,000
3 months
December 2015
50% faster
vs median 6 months+9 months to next milestone
$10K MRR
$10,000
1 year
October 2016
Avg: 1 year
+3 years to next milestone
$100K ARR
$10,000,000
4 years
October 2019
Avg: 2 years
4 years
Total journey time
4
Milestones achieved
Against every documented journey
Joe Thomas reached $10K MRR in 12 months, faster than 48% of the 295 documented $10K journeys (median 12 months). The amber bar is this journey.
Joe's Path to $100K ARRPremium
The journey, decisions, and context behind this milestone
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Frequently asked questions
Who acquired Loom?
Loom was acquired by Atlassian for $975M on October 2023. Pre-acquisition revenue was $50M ARR. Atlassian acquired Loom ~$975M (~$880M cash + equity) October 2023. ARR ~$50M at acquisition.
What is Loom?
Video messaging and screen recording platform for work. It operates in Content creation.
How long did it take Loom to reach $100k arr?
Joe Thomas took 4 years to reach $100k arr with Loom.
Was Joe Thomas a solo founder?
No. Joe Thomas built Loom with co-founders.
What marketing channel did Loom use to grow?
Loom grew primarily through Product Hunt.
What industry is Loom in?
Loom operates in Content creation.
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