Karri
@karri_tweets
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Ecom, saas, memes. Founded (acquired).
Joined September 2015
Don't wanna be here?
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@IHaahtela
Anteeksi Ilkka kielenkäyttöni, mutta viraston johtajana pidän teitä tämän episodin johdosta joko pahantahtoisena tai idioottina. Ensimmäisen olettaminen ei ole yleensä ole tarpeen.
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@bernhardsson
I’m not sure if you already realized, but Estonia’s tax code is like no other (20% income, no progression) and one of the most pro-business out there in whole Europe.
At the same time, a great early tech success with Skype which created a similar effect Nokia had for Finland at
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Soon
Just a few features to go before matching 95% of what existing players offer - all for free
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I’m pleased to announce that I’m turning 30 today…..and that Lifetimely has been acquired by
@_useamp
!
1/x
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MY FAVORITE NICHE WEBSITE HAS BEEN ACQUIRED
Portfolio Visualizer is a free portfolio backtesting & analysis tool mostly used by the Bogleheads, Fintwit & DIY HF crowd from Reddit. You can easily compare how different investment portfolios would have performed in the past and see
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@bernhardsson
The company income tax policy is quite interesting: you only pay tax if the profits are distributed and paid out from the company - 0% paid until then
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BUT WHY SHOPIFY DOESN'T GIVE US A NATIVE REVIEWS APP???
- Judgeme’s 60-strong team serves up top-tier reviews for 300k+ merchants, nearly gratis, with round-the-clock support.
- Vitals and Rivo serve the rest of the dropshipping crowd with value-packed deals
- For the bigger
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I keep drafting a tweet about everything I learned from seeing the financials for almost every top D2C brand. I get back to the conclusion that i've nothing else to say than this....
------
What I learned from seeing top D2C brands' metrics and talking to 1200+ merchants
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I wanted to test if I could land a PM job at Shopify and see how the interviews would be like
Answer: no 🤣
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Lol we are on the app store first page just after 4.5 years
Doesn't make any difference, but makes sure a nice screenshot 📸
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My twitter feed after Klaviyo's latest pricing changes
Ok finally did it - bought some Klaviyo puts.
Sendlane and others are coming fast and Klaviyo has entered the “stop innovating and just raise price” post-IPO phase
$KVYO
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VCs and founders never learn the lesson that Shopify apps rarely have any sustainable pricing power.
Switching costs are hard to come by (platform API’s take care of that) and Shopify’s own pricing is an anchor and sets the sealing on how much apps can charge (1/x)
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After every Shopify Edition, there's been blood in the streets of the app store🩸 Which app category goes into chaos today?
Excited for tomorrow. We have some good stuff for you Shopify folks 🥰
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@dieworkwear
crewneck or polo knit with tailoring is getting popular - at least in the Nordics
much better than the t-shirt
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Find a product to sell. Run ads. Get your first sale. Get another. Visit your factory in China and shake hands with the team. Pg a loan to finance your inventory with a loan officer who doesn't understand ecommerce. Hire an ad agency. Fire an ad agency. Go to Shoptalk, shill some
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So this is your base subscription price, this is what you pay per ticket and this is the SMS add-on that comes on top, totalling $1,116 per month. Then we add the bot self-serve ticket resolutions that cost between $0.7-$1.96 per chat, chat pop-ups that are $0.5-$1 per click...
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THERE ARE THREE WAYS TO MAKE A LIVING in the Shopify app business: be first, have the best features, or be cheap.
Well, we are not first.
And although I like to think we have some smart features, it sure is a hell of a lot easier to just be the cheapest.
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Repeat after me: Saas firm's inflated cost structure is not a Shopify merchant's issue. We don’t need more Yotpos.
Shopify's ecosystem thrives on lean hustlers: Somewhere, a dev in a closet-sized room is coding up a cheap copycat, aiming for that sweet $1K/month milestone - and
Here's my overly simplistic explanation of SaaS pricing...
One of the big issues with ecom SaaS pricing is that TAMs aren't as big as you'd think.
And there's essentially a rev floor every SaaS needs to hit to be long term viable.
If VC backed, that's usually $10s of millions
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I’ll turn 30 soon so my mom asked what I want for my birthday.
Asked for a niche ERP business with $1M+ in EBITDA, 10 years of history, negative NRR, low maintenance and R&D costs and no VC competition. An implementation partner network would be the icing on 🎂
Thanks mom!
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@PrivatEquityGuy
Not sure if you are familiar with Matsmart (50M€ in Sweden 2020) and Fiksuruoka?
Best before date dry food is a significant and competitive business here
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I'm looking for a D2C brand to finance:
Consumable
High repeat
Low opex
A Hero's Journey, told in Four-Quarter Accounting.
What's your takeaway?
YR 4: $10-20M Revenue
————————————
1️⃣ 24% - Cost of Delivery
2️⃣ 40% - Customer Acquisition📈
3️⃣ 10% - Operating Expense 📉
4️⃣ 26% - Profit
YR 3: $5-10M Revenue
————————————
1️⃣ 25% - Cost of
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Not all will keep their seat in 2024. Who do you think will be the first to lose ground?
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when you fill out a 13-week cash flow model template you found online and tweet about "cash conversion cycle"
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How much would you pay for a 17-years old Saas for the social care vertical with
>3M in revenue
>865K in EBITDA ?
Let's reverse engineer how much a $CSU competitor Visma paid for this beauty:
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Was Retention(.)com the slickest internet hustle of 2023? If you sideline ethics, I give it a solid 5/5.
Here's the playbook as I see it:
1. Cozy up with lead gen sites - think payday loans, insurance, and the like.
2. Fingerprint every visitor (plenty of vendors and
@BuildWithZach
@bwhalley
I’m curious. How is retention collecting the emails on site? Are they just scraping the emails at checkout and passing it back to the esps even if someone doesn’t consent to subscribe to emails?
I think the point here is consent, how are they doing it?
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hello all you 400 new followers & thanks sean for the shoutout!
on a short holiday, soon back posting more bad memes (if i ever get back from here alive)
5-
@karri_tweets
Karri made the single best piece of ecom SAAS ever.
He is hinting at a sequel...
Get in now so you can be early to the party
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Not letting stores with not enough orders or historical data to pay more was an easy decision.
Would end up refunding merchants with bad experience anyways so better not let them in at all.
This is how you do business 👇
@Lifetimelyio
won't let me select their most expensive plan because we "don't have enough historical data."
My guess is they know they can't deliver what they promise without more data. So, instead of letting me decide, they just disable it.
👏👏
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This is why building a financial modeling app for ecom is hard and no good ones exist today - many people are trying hard though.
Forecasting inventory, accounts payable etc: yesss sir
Meta spend: 🎢
Plans are useless but planning is everything
If you think running Meta ads are hard right now, imagine forecasting an entire business P&L with this uncertainty
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My favorite D2C brand type: X but EXPENSIVE
Satisfy Running: running gear but EXPENSIVE.
Rain jacket: $540
Trail shorts: $260
Merino Tee: $300
Singlet: $140
Any other favorites?
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Second album syndrome but entrepreneurs who've had a previous success.
Easier to double down on content, new noble business ideas and real estate dealings instead of doing the same crappy stuff that made them rich in the first place.
The struggle is real.
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GS love
Brand only watch nerds will recognize - more interesting horology and features compared to Rolex at same price point
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Käytämme Google Analyticsia väärin❌. Pidämme sitä liiketoiminnan oraakkelina, josta löytyy vastaus kaikkeen.
Kirjoitin data sciencen📈 soveltamisesta verkkokaupassa ja GA:n väärinkäytöstä➡
@ecomgrowth_fi
@eCommerce_FI
@paytrail
@columbiaroadcom
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Anyone here dream of owning a (fake) diamond brand? Are you a younger Warren Buffet who just learned about Grahams Net-nets? How would you like to own a melting ice cube? You got white gloves on?
Let me introduce you to Charles & Colvard - your new D2C public stock darling! 🚬
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Just onboarded our 4th dev into the team, making us a squad of 6 – that's more firepower than Lifetimely had when we hit the 1k merchant mark
Seems that we are all in betting the house on this app (or at least that old 911 i was dreaming of)
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✅DONE!
Lifetimely = a
#Shopify
app for understanding customer lifetime value and how the best customers behave. Includes a free profit dashboard with FB & Google connectors.
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COHORT ANALYSIS ON STEROIDS 💉
After working on the project for +9 months, we're finally releasing the most exciting Lifetimely feature so far: PREDICTIVE LTV MODELING!🔮
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I used to be afraid of tracking competitors, always anxious about them. Never tracked Triple Whale and that’s why I’m here tweeting and not living in the French Riviera. Bet many others feel the same and say stuff like “I just focus on my own business”
I've learned my lesson
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If you look closely, you will see an open
@Lifetimelyio
tab on that browser...😍 This made my day.
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That look she gives when you casually drop "first-order positive contribution margin" and "we use judgeme" in the same sentence
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VCs miss the forest for the trees when they only see the big numbers
Klaviyo's grip is slipping. Sendlane's on the rise, along with new entrants gunning for the throne. In the D2C realm, 2024 will be a year of turnover.....
Klaviyo likely will be one of most successful SaaS IPOs in years
Less discussed is how timing and some luck helped them rocket past Mailchimp in the Shopify ecosystem
Mailchimp wanted to own the customer and the revenue stream … which led to break-up
Klaviyo filled the void
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Anyone interested in investing in a free Shopify app with five users and no plans to monetize at $25M pre-money?👼
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Embracing the hard things is something I didn't understand with my first two ventures.
When you see a wall, run enthusiastically towards it and bang your head against it, instead of walking away.
All the sustainable profits are in figuring out the hard stuff no one wants to do.
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Kovia hommia tarjolla verkkokaupan ammattilaiselle/digimarkkinoijalle Keskisen Kellolla! 16M€ pumppu, palkkaus hyvä, toimisto Kampissa ja vapautta työnkuvassa varmasti riittämiin.
Pitää pystyä ymmärtää Pohojammaan murretta. Lisätietoja allekirjoittaneelta.
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Mitä opin polttamalla 9kk aikana 250k€ FB-markkinointiin? =>
@ecomgrowth_fi
@eCommerce_FI
@WoolmanIO
@paytrail
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Reviewed 150+ dev applications today. Weworkremotely has been a failure since 2021, so running a good old Linkedin recruiter outbound campaign targeting dev teams in places where USD is in short supply and inflation is in double digits
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@rjonesy
I don’t understand the hate makers have against bending spoons.
It’s the seller one should hate for screwing up their team and deciding to sell to them - 🥄 just does the laundry
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Väärä mies lähti. Ehkäpä maan hienoin radiotoimittaja, joka tutustutti kummallisiin ilmiöihin oman kuplan ulkopuolella.
#perttuh
äkkinen
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The correct answer would likely be GA4 alternative but we are not going back to analytics
Please someone do it, the tech to build it is well known and not **that hard**
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Someone listed an unprofitable Aftership competitor to Microacquire
Any of the Shopify App aggregators will buy this and fire half of the staff - but they'll need come down on price
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@chrisxmunn
Wait a sec: there’s no automation available for doing this? Why is this manual in the first place?
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Me: Saas is so demanding as you need to constantly invest in R&D
Friend who owns a D2C knitwear brand: we built a wooden HQ with two warehouse robots to speed up pick & pack
🤷♂️
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Short-term roadmap:
- We've (almost) nailed the basics; now it's about AI AI AI
- Automated social comments moderation
- Aircall integration
- A lot of integrations to do (Yotpo, etc)
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A lot of ecom Saas comes from the city of Helsinki 🇫🇮:
Lifetimely
Smartly (70M+ ARR in 2020)
Supermetrics (50M+ ARR?)
Nosto (20M ARR)
Klevu (7M+ ARR)
Custobar (3M+ ARR)
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Most business interview podcasts are lame
But this was a banger interview with someone who has original thinking and—dare I say it—contrarian views
Highly recommended listen
The best media companies have great content, great distribution, and often a unique business model—selling things other than just. content
Adam Sandow has built one of the most interesting media companies I’ve ever encountered
He owns a variety of different magazines (Interior
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Uus duuni, olikin ikävä hustlaamista kunnolla etulinjassa ilman rajoitteita📈Myöskin vihdoin niche, jonka katalogi on itsellä näpeissä⌚️
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Please send your unsustainable sub 3M ARR apps to me and we can certainly find them a better home
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There are at least 10-15 b2b platforms with truly active plugin appstores, depending on how you count
But my favorite platform is Roblox: numerous underaged millionaires are building on top of it (the platform has a crazy 50-60% tax btw)
Ok so on the pod we've talked about different platforms + building plugins on top of them:
1. Andrew Wilkinson with WeCommerce is making tens of millions building and Shopify plugins
2. Syed Balkhi bootstrapped his Wordpress plugins business to tens of millions (and honestly it
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Are you an ecom merchant seeing all the SaaS money in Twitter and thinking about building one yourself?
Here's how to do it:
1. Read Cole's tweet
2. Find a dev cofounder
3. Budget $30k-100K for your $aa$-hole (and set a stop-loss)
SaaS is such an attractive business model, but man it is hard.
i burned $100k+ on 2 software projects last year that basically never launched.
here are 5 expensive lessons learned... keep in mind i'm still a noob at making software, and these are all from the perspective of
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ONE HUNDRED 5-star reviews. I'm ready to get the first 1-star, my work here is done. Next milestone: 1000 reviews.
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#koneoppiminen
hype tuntuu oudolta siihen nähden, että kolmella rivillä koodia R:llä saa autoML-kirjaston ruksuttamaan ja käymään eri teknologiat lävitse. Osa työkalupakkia, siinä missä regressioanalyysitkin. En ole tilastotieteilijä, mutta käytän silti.
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@jmpentikainen
@JanneMakkula
Surkeaa edunvalvontaa SY:ltä.
Käytännössä veronkorotus joka 1) vie monta marginaalissa toimivaa pienyrittäjää nurin
2) poistaa yhden alkuvaiheen yrittäjyyden kannustimista.
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Signed up for BJJ classes. Saw that every gym was using the same software. A nice vertical app market, hmmm.
Let's check if it's a money printer like I'd guess...
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The best business ideas always seem absurd to outsiders. There's no alpha in the obvious
My buddy's venture: an idiot-proof, stupidly simple CRM with built-in contact data that challenges Hubspot and Salesforce. "Crazy," say the VCs; "Brilliant," cheer the early customers
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Step 1: find a .com domain
Step 2: pick a roll of duct tape and stitch together a free/cheap copycat app that fits the domain
Step 3: 🐉⚔️
@karri_tweets
Can't wait to see it and hope to help you put this greedy incumbent to the sword 🙏
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1/ "As you probably know, our ad attribution software claims to be able to track every sale and the exact profit for each ad"....
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After starting Lifetimely, work has become my 24/7 hobby. No more skiing or mountain biking. Maybe fly fishing every few months. This was one of those days 🎣
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i need to learn video skillz to be able to do product update videos by myself for the new app
here's a practice take i did a couple of weeks ago: how to find & hire cheap talent
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@PrivatEquityGuy
Finland is currently being raided by Swedish serial acquirer / holdco’s among our local players (Boreo, Sievi, PE…)
But there’s still room for a player that in that 1-5M range!
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Ainiin, valmistuin tänään tuotantotalouden dippainssiksi.
Kuusi ja puoli vuotta jaksoin papereita pitää sisässä, osittain ilmaisen hammashoidon motivoimana.😅 Insentiivit kohdallaan.
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Almost everyone on our team found us from WeWorkRemotely job board.
Why there isn’t a go-to D2C / ecom focused job board?
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@BrianFOConnor
@lukesophinos
Most M&A folks seem to leave CSU for low pay & high competition - they seem to actually be very conscious of the pay
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I’ve talked to dozen or more 17yos making 500k-1M a year in profits from dropshipping
Was more common pre-covid but they still exist
It was always inspirational to see them succeed already on the first stepping stone to online business
Brand owners should start paying drop-shippers for consultations on front end acquisition
Dead serious
Think a lot of brand owners are completely oblivious to the level of skill some of these guys have
Maybe that’s why I’m constantly baffled at some of the things I see
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@NotMarkLeonard
Interesting to see them buy more of these horizontal /non VMS dev assets, I think Jeff talked about this on some pod.
Cc
@dctanner
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@jayvas
Starting business in the EU, especially a software biz is all about raising EU startup grants.
You can easily get 250-400k in non-dilutive funding + 500-1M in debt with no personal guarantees and very relaxed terms
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It’s insane how every Google product seems to be designed to trick advertisers into paying for clicks that do not drive revenue VS meta offering to pay you to run incrementality tests.
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If you are Lifetimely's competitor - you should be afraid. We were previously unbelievably lean team and still built a great product. Think what happens when you add funding...
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