Buffer reposted this
I just sent Buffer's monthly shareholder update for June 2024. This goes to all of our investor and alumni shareholders (75 people on the list) and I share it publicly as part of our value of transparency. Here are the highlights: Buffer's metrics for June 2024: - MRR: $1,548,844 (+0.82%) - ARR: $18,586,128 (+0.82%) - Customers: 56,046 (+0.22%) - Revenue Per Employee: $261,776 (+0.82%) - Net Income: $86,538 (+22.90%) In June, we: - Launched our Meta Threads integration - Launched the Duplicate action - Hit our 3rd consecutive month of profitability See comments for a link to the shareholder update (includes a Q2 2024 reflection from me). What reflections or questions come up for you while reading our June update? I'd love to hear from you.
(1) Have you been able to attribute any specific thing(s) to the turn around in MRR as it relates to New Buffer cohort? What are people loving? As the only option for newly-paying customers, it makes sense that it has “all” the growth, can you speculate to its growth rate compared to if legacy was still the only option? (2) Do you have plans to tackle any big social-adjacent marketing workflows? Email, design, CRM, websites, etc.?
Ok I know this is a niche feature for 2024 but I would love something that somehow does blog post -> social better. Basic link posts don't work, scheduled or not. Something that breaks out somehow so would perform better woudl be super valuable
Congrats on the awesome month Joel Gascoigne! 2 questions come to mind for me: 1.) With that many customers, I’m assuming you are all operating a PLG GTM? Is that right? 2.) Do you have a goal in mind for the “revenue per employee” figure? I’ve heard benchmarks that range from $250k - 400k. Would be curious to hear how you all think about this? PS - big shoutout on reaching profitability and staying there!
Can't believe the team was able to so quickly implement and launch Threads API! Amazing work :)
Wonder how much you share, and you continue to be a leader in transparency among private companies! 👏👏👏 Is the increase in profitability entirely attributed to revenue growth? Or also as a result of cost savings? If the latter, were these cuts intended to make operations leaner or do you foresee those impacting growth initiatives?
This is awesome Joel. Love the transparency & public shareholder updates, it's a great way to build a company, maintain accountability, recruit/engage stakeholders, and educate the community. Curious, what other founders/companies have similar transparency practices?
How do you incentivize your sales team to push harder into the market?
Congrats Joel Gascoigne . Only those who go through that know how hard it is to get to such great numbers. And how many times we dreamt about them but they were just that, dreams 😂
That third consecutive month of profitability 😍
Founder CEO, Buffer
1mo🔗 Buffer's June shareholder update: https://buffer.com/shareholders/june-2024