How many people are on the team right now? 17
What are you based on? Israel, Tel Aviv
Raised money: Raised $600K from Altair VC
How did you use the money?
Most of the funding was used to build our technical team: developers, QA engineers, designer, and VP of Product. Later we activated paid acquisition on Google. Today we spend ~$20k per month, this spending pays off in revenue from customers within 1.5 months.
Can you tell us what CrazyLister is and how it makes money?
“Wix for Marketplaces”: CrazyLister is the easiest solution to create professional product listings for marketplaces. Starting with eBay, we are now expanding to Amazon, Wallmart, Rakuten, Wish.com, Etsy, Alibaba and more.
CrazyLister Website
How did you come up with this idea?
Growing our first company, an e-commerce business, from zero to $4.5 million in annual sales, we felt the pain firsthand.
How long did you work on it before launching it? When did you see your first dollar?
I got the first dollar about half a year after the first line of code was written.
Who are your customers? What mexican phone numberstheir target market?
Retailers selling in markets
Are you profitable? If not, when do you think you will get there?
As soon as we reached profitability in June 2017, we returned to negative cash flow to accelerate growth.
How did you get your first 100 clients?
Facebook groups and content marketing.
What are the top 2-3 distribution channels that are working best for you? Which channel didn’t work for you?
AdWords CAC:LTV 1:6
Content Marketing & SEO = 70% growth
You’ve now brought on a Facebook Acquisition Expert.
As for channels that didn't work for us, we haven't yet managed to run a successful affiliate program. We haven't yet managed to run a successful referral program, similar to Dropboxe's. We've failed miserably with banner placement.
Tell us 2-3 growth challenges you’ve encountered recently (and if you have a strategy, how to solve them).
Challenges we’re having with customer support – we need to serve customers 24/7, customer support experts in Israel are not enough, so we also hired in Brazil.
Challenges in transferring knowledge to new customer support experts who are not physically present in our offices. How to build a scalable process between customer support and the technical team? Prioritizing bugs and features, etc. When you’re small, customer support can go to the nearby room and talk to developers – as we scale, this is becoming a challenge. We’re building processes that will be sustainable for 50-100 customer support experts.
Some of the tasks aren’t worth doing in-house. What do you outsource?
We use an agency for SEO – we’re just getting started, let’s see how it goes. We felt like we needed an SEO expert – it’s a complicated and ever-changing space with a lot of conflicting opinions. We had too many questions and too few answers. Is our site fast enough? What should we put in robots.txt? How to use canonicals, no index, is our blog post SEO optimized enough? Why are we ranking low for certain keywords?
What are 3 tools you and your team can't live without?
Gmail, Intercom, Jira
Tell us what was the biggest mistake you made while building and promoting your product and what you learned from it.
Not having a tech co-founder from day one. We were two business partners in a SaaS company. It caused a lot of pain and wasted resources. Some of the challenges of not having a tech co-founder:
How do you interview, assess, and hire developers?
How do you decide which technology to build the product on?
How can you assess whether the estimates given by developers are realistic?
How do you get funding for a tech company without having a tech partner?
If you were to start CrazyLister today, what would you do differently?
Migrating to the US. Israel is more about cyber than e-commerce
It was VERY difficult to get off the ground in Israel with an e-commerce startup.
If you had moved to the early stage of the US, what would you do differently there?
40% of our customers are in the US. We would have reached more customers faster. We would have reached more partners and platforms faster, and we would have learned faster from these.