@peter, thanks for the context.
-
Bug fixes: I will review this list and get back to you via email.
-
Development: I agree. Weāll ensure to update both going forward.
-
LowCode: This is precisely why we donāt roll out many of our features. It has specific use cases and enabling it for everyone only causes more confusion. PipeScripts, Custom components are just two examples. What you want to do with a QR code may or may not be possible with the Users API, but it certainly sounds like a potential security concern.
-
I agree about your community thoughts. Sadly, not even 10% of our client-base is in this community. So many of our customers built apps 3-4 years ago, are happy, and have minor changes once every few months. I do wish I can find a way to get more engagement from everyone.
-
Employees: aside from myself, none of us are active on LinkedIn at all. Yet still, I hate wasting my time on there. That number is not accurate, the right number is 19.
In the spirit of this great conversation, Iāll explain Tadabase, employee count, and more. I may be oversharing, but Iām passionate about this, so why not have some fun?!
Your question about employee count, viability, and general worries is something I would certainly think about if I was in your shoes. From our point of view, we want to be as transparent as possible but also not give up our secret sauce. So itās quite a balancing act. I often get that question but have never addressed it in the community.
I work with several high-net-worth investors and VCs as their behind-the-scenes technical auditor. Iāve helped guide investments into some huge companies, including Unqork (great company btw) and a dozen others. Seeing metrics of what Unqorkās key customers look like or what some other companies are doing is exceptionally insightful. Some of those companies were direct competitors of ours. This gave me insight worth more than gold and helped shape our direction.
Hereās what I can say: there are companies out there that have over 50 employees on LinkedIn and doing 1/4th of our revenue and not remotely profitable. Another company invested $22 Million dollars and doing 1/8 of our ARR, again with many employees, according to LinkedIn.
These experiences over the years have made me steadfast in ensuring:
-
We never get like that, and we must become 100% sustainable.
-
VC funding is almost always the riskiest thing for customers.
Another point as to why we have so few employees. 1) What would it say about us if weāre in the world of optimizing businesses with software and we arenāt optimized?
2) We have one sales guy and no other sales or marketing, we donāt advertise and grow 100% organically and via our partners.
Hereās a quick flex:
-
Weāve grown 300% year-over-year since 2019.
-
We have over 1,400 businesses and a few dozen customers paying us in the hundreds of thousands a year.
-
One customer pays us more than one of the competitorsā entire ARR, a competitor that raised ~$15 million and has a few dozen employees.
We had multiple offers for funding, and it seems exciting to inflate our LinkedIn Employee count and get that coverage in the news. Thank God we didnāt cave to that, and hereās why: In conversations with VCs, they drool when they see our customer base and metrics and see the potential for us to grow even quicker by doing things not beneficial to our customers. I 100% refused any such demands, and we eventually went our separate ways. In hindsight, it would have destroyed the company if we had taken the money. Iāll explain below.
Many companies have raised more money than their preferred shares are worth. Meaning the founders and employees have 0 upside. For example, suppose the following: Company B raised $100M with 2x preferred stock while doing $10M in ARR on a $400M post-money valuation (this was common 2 and 3 years ago). Now the feds raised the rates, and the tech sector is down 80%; the companyās value is max $100M (10x), but the investors will likely be owed $200M (2x preferred). If this is the scenario, why not shut it all down? This will certainly happen a lot in the coming 18 months. Thereās been a push for people to shut down and return whatever money they have left. So how is having x employees and x funding beneficial at all for the customers? Itās not! This has plagued most of the tech world. Just look at Dropbox; they are worth less now than when they went public nine years ago. We are fortunate not to be on that boat. For us, this is the most exciting opportunity. The best companies are born in down cyclesā¦ here we come! 
So why donāt we have more buzz/views? We have a success paradox. The more successful our customers are, the more they donāt want the world to know they use us. I remember three years ago when we launched a short video; the first comments were about Tadabase being their secret.
I do not know what you are building, but chances are youāre not screaming Tadabase off the rooftops. For us to get a case study is generally looked at from our customers as them giving up their secret sauce. At first, this was a terrifying realization for us. Still, weāve leaned into it and have invested in deepening these relationships, which is how weāve had multiple customers go from paying around $250/month to $28K/month. Literally! This right here is our secret sauce.
So my key points are:
-
We are truly profitable, and donāt be fooled by the vanity metrics you see on LinkedIn. We are here to stay, and if something goes quiet, it means something exciting is on the horizon.
-
While we must focus more on a customer paying us $500k/year vs someone paying $2500/year, that is in no way an indication of any less commitment we have every one of our awesome customers.
-
We will never compare Tadabase to a competitor in the community forum. Iām sure Glide, Bubble, and others are great. But we pay exactly zero attention to them and focus on what counts - you. If someone is happier elsewhere, we have no objections and will do what we can to help the migration. But one thing is certain; no one will care about your ultimate success as much as we do.