Product Journeys: Drip

When Rob Walling launched Drip, he was doing $7K in monthly recurring revenue. But he quickly realized that his revenue had already flat-lined and that he had a high customer churn problem. He was competing with behemoths like Mail Chimp and Marketo with a team of just 3 engineers. Drip started as a simple opt-in pop-up with an autoresponder. It then evolved into an email service provider, to finally become a marketing automation platform. That’s when it hit real product-market fit and churn immediately started plummeting. Rob sold Drip to Leadpages almost 3 years ago. Recently, he started TinySeed, an early stage VC fund and remote accelerator that aims to fill a gap in the market by providing funding to SaaS companies who don’t aim for the 100 million dollar goal. This episode is brought to you by: SIEMENS download their free webinar on Building a sound, digital foundation for hardware startups today. Digital Ocean is a cloud provider that makes it easy for entrepreneurs and startups to deploy and scale web applications with no issues and unplanned costs. Get started for free at do.co/rocketship. Earth Class Mail scans and digitizes you physical mail and makes it available to you on mobile or desktop or even Google Drive or Dropbox. Rocketship listeners get 25% off their subscription for the first 3 months by going to earthclassmail.com/rocketship. Rocketship is brought to you by The Podglomerate. *** This show is a part of the Podglomerate network, a company that produces, distributes, and monetizes podcasts. We encourage you to visit the website and sign up for our newsletter for more information about our shows, launches, and events. For more information on how The Podglomerate treats data, please see our Privacy Policy. Since you're listening to Rocketship, we'd like to suggest you also try other Podglomerate shows surrounding entrepreneurship, business, and careers like Creative Elements and Freelance to Founder.