February was a terrible month. We decided to add a free tier to Typed.com, turns out this yielded less than stellar results. I think we would have grown or stayed the same had we not added the free tier.
We've disabled new sign-ups on the free tier as I don't think it's sustainable at this point. Free subscribers might turn into paid subscribers at some point, but right now I think our best decision is to focus on people that are paying for the service and provide them with the best experience possible.
February 2016 Revenue Report for Typed
- Monthly recurring revenue: $1,393.14 (-8.43%)
- Annual recurring revenue: $16,717.63 (-8.43%)
- Total Paying Subscribers: 118 (-9.92%)
- Customer Churn: 27.61% (-30.16%)
Customer churn was down, but then so was new paid sign-ups. This is the first month we've had a significant dip. Building a service like typed.com is about longevity. We'll continuing to improve and support Typed, and eventually it'll take off and become sustainable. I'm sure of it.
I’ll be back in April with another report, but until then, thanks for supporting Typed and happy blogging!
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