Success story: Replicon – time tracking and invoicing software

Two software developers (married couple) start their own business in 1996. Now they have 20 million $ revenue in 2010. They worked at night to develop their software. From 18-03 every day after day job. Their time tracking and invoicing software as service called replicon.

Here are some notes from interview:

  • Collected credit cards to finance company initially, then had debt 90.000$
  • built 4 programs for business but was not successful.
  • Started consultancy service to pay debt.
  • Found that they spend lots of time invoicing and counting costs, and decided to write program to do it automatically.
  • Sold program as shareware with 1 month trial.
  • Had clients that buy 100 licenses for 30$ each.
  • Worked 8-18 as consultant, 18-03 to develop software. 03-08 sleep. Managed their time very well and had huge motivation to work in this schedule.
  • Left consultancy when they had 20K $/month from software.
  • Had their client as angel investor 500K.
  • Had other investors 2,5 million $. then returned their money back due to separate interests. Investors wanted to sell quickly and earn some money.
  • Switched to SAAS model and serving 7k clients with 800k users.

Credit Card Debt, To Moonlighting, To $20M Turnaround – with Lakshmi Raj & Raj Narayanaswamy | Business Tips.

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