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Wow, we did it!! Delighted to share that @Buffer has officially surpassed $20m in ARR.
May 2019 numbers (see table for more):
MRR: $1.68m
ARR: $20.13m
Customers: 77k
Rev/employee: $234k
⬇️ Thread below with my reflections on this milestone and May numbers.
May 2019 numbers (see table for more):
MRR: $1.68m
ARR: $20.13m
Customers: 77k
Rev/employee: $234k
⬇️ Thread below with my reflections on this milestone and May numbers.
Reaching $20m ARR is a huge milestone for the whole team, I’m so proud of everyone.
It’s been a long time in the making, I started Buffer almost 9 years ago. It really is a long journey. If you’re getting started in SaaS, buckle up!
It’s been a long time in the making, I started Buffer almost 9 years ago. It really is a long journey. If you’re getting started in SaaS, buckle up!
Building Buffer has been one of the most stressful and also most rewarding things I’ve done in my life so far. I wouldn't have it any other way, and I’m looking forward to it being a very long journey ahead. No plans to stop anytime soon!
The last few years have been truly up and down at Buffer, and for me personally, so this makes the $20m milestone that much more special. I’m for sure taking a moment to reflect and celebrate this.
Fun fact: it took us ~5.5 years to reach $10m in ARR, and another 3 years to go from $10m to $20m. Let’s see where we can be in 3 more.
SaaS truly compounds, so stick at it if you can. Take care of yourself, take time off to avoid burning out and abandoning the journey.
SaaS truly compounds, so stick at it if you can. Take care of yourself, take time off to avoid burning out and abandoning the journey.
Interesting to consider the funding it took to get here. We raised $450k in 2011, and another $3.5m in 2014.
However, last year we used our profits to buy back a majority of the Series A. We spent $3.3m to do that.
However, last year we used our profits to buy back a majority of the Series A. We spent $3.3m to do that.
So, not a perfect interpretation, but in a sense we’ve reached $20m ARR with $650k in funding.
And these days we generate around $300k in net profit each month. We’re now more sustainable and long-term focused than we’ve ever been.
And these days we generate around $300k in net profit each month. We’re now more sustainable and long-term focused than we’ve ever been.
May 2019 was a perfect month to cross $20m. We’ve had a slower patch recently, and we grew MRR more in May than the previous 3 months combined. A great win for the whole team, and a reflection of many efforts coming together and showing results.
Let me know if you have any questions on these numbers or our journey to reach $20m. I have a long train journey tomorrow so I’ll try to respond over the course of the weekend.
