Have you ever had a side project that turned into something big? That's exactly what happened to Tibo, the co-founder of Tweet Hunter. In just over a year, he went from working on a small project to being acquired for millions of dollars. How did he do it? Let's find out.
Building a SaaS Product from Scratch
Tibo started Tweet Hunter with his co-founder, Tom, in mid-2021. Their goal was simple: build a Twitter-specific tool that would provide a better user experience than the existing ones on the market. They were up against some tough competition, but they believed that they could bring something unique to the table.
One of the keys to their success was their ability to adapt. They quickly realized that building relationships with influencers was key to driving growth. By partnering with people like JK, they were able to take their revenue from $5,000 per month to $20,000 per month in just a matter of weeks.
Another important factor was their willingness to try new things. They didn't shy away from side projects and marketing experiments. One of their most successful ventures was the Twitter growth contest, which helped them attract even more users to their platform.
Negotiating the Deal
After just a year, Tweet Hunter was doing so well that they caught the attention of potential buyers. Negotiating the deal wasn't easy, but Tibo and Tom were able to come to an agreement with lempire.
One of the challenges they faced was trying to predict their future growth. As a rapidly expanding company, it was difficult to put a fixed price on their product.
Instead, they structured the deal around future incentives and performance metrics. This meant that they could continue to grow their product and unlock more revenue as they went.
Tibo's journey from side project to million-dollar acquisition is an inspiring one. Here are some of the key takeaways from his experience:
- Adaptability is key. Don't be afraid to try new things and pivot if something isn't working.
- Building relationships is crucial. Whether it's with influencers or your customers, focus on creating strong connections.
- Don't be afraid of competition. Just because there are existing players in the market doesn't mean you can't bring something unique to the table.
- Keep your focus on revenue. It's great to be passionate about your product, but if you want to build a sustainable business, you need to prioritize generating income.
Tibo's story is a testament to the power of determination and hard work. By staying focused and adapting to the changing landscape, he was able to build a successful SaaS product from scratch.
Whether you're just starting out or you're already on your way, there's plenty to learn from his experience.