Summary
Upvoty, founded by Mike Slaats, is a user feedback SaaS tool launched in 2019. It was created to streamline the process of collecting and managing user feedback, an idea born from Mike’s previous experience with a SaaS startup doing over $1,000,000 ARR. Upvoty grew rapidly, reaching $1,000 MRR in just two months after launch, and has since grown to $20,000 MRR with a fully remote team. The startup’s success is partly attributed to its effective use of content marketing and a unique 'Powered by Upvoty' referral strategy within its feedback portal.

Unique Aspect
Upvoty offers a streamlined, user-friendly approach to feedback management, filling a gap in the market for efficient, scalable feedback tools for businesses.

Approach to kick off
The startup utilized a landing page with an explainer video and sign-up form for initial validation, drawing inspiration from the Dropbox story. This approach, combined with aggressive content marketing and community engagement, helped validate and grow the product.

Scoop

Business Model Viability
The business model, focusing on a niche yet essential aspect of customer interaction, is sustainable and shows potential for scalability.

Future Projections
Plans to expand the team, especially in customer support, and aims to achieve over $50,000 MRR in the near future.

Startup Stats

📊 ARR: $240,000

📈 MRR: $20,000

🚀 Startup Costs: $0

👥 Team Size: 8

🌍 Market: Targeting businesses looking for efficient feedback management systems

👨‍💻 Users: Over 500 companies

💰 Funding: Bootstrapped

👨‍💼 Founders: Mike Slaats