MarsX: Code + No-Code Tool Reached $1.2M Valuation

Hello !

In this week’s newsletter, we will talk about:

  • Webflow Product reaches 18,000€ MRR within 90 Days
  • Company specializing in Gift Boxes earns $20K Revenue Per Month
  • Form-Building Platform reaches $30K MRR in 2 Years

These stories show you that you can reach any height of success if you chase your dreams. So, let’s begin!

1. Hiring Platform for software developers crosses $2 million ARR in 8 Months

Distro is a USA-based platform where companies can search for software developers and recruit them remotely. Payments can also be done through it. Various established and large-scale tech companies are its clients. The platform is free to use, and it charges a fee only after salaries are dealt with for the employees.

Chad Ingram, the founder and CEO, had prior experience of launching and expanding two businesses. Though they were acquired by other companies, he didn’t want to give up on his wish to do business. He learnt a lot from managing these companies regarding market competition, labour demand and mobility, running a team, etc. He understood that the recruitment process, through which a company can get cheap and easy labor, is actually shrouded with uncertainty and is costly. He then came up with the idea to solve this problem.

Chad identified the major area of problem, and create stories based on the experience and wants of each type of user. After building the product, they started selling the product and designing the prototype simultaneously to expand faster. Response from the first group of customers with whom they experimented on the product were satisfactory and the sales was huge. It helped in the funding, alongside the $250,000 invested by Chad.

Though there was not much marketing done other than some basic methods, word of mouth and good review from the users promoted their product a lot. Since Distro helps each company with its problem of hiring, customers are happy with their service and remain with them for a long time. This is also reflected in the ARR that has crossed $2 million in just 8 months from launch. The company currently earns $140K sales revenue per month.

Chad is currently concentrating on sales and marketing. He also wants to improve and modify the product and its features to suit the ideal customer base. He is dedicatedly working towards his goal of $3.5 million ARR within December 2022.

2. Link Shortening Company earns $75K from Pre-Launch Sales

LinkDrip is a Switzerland-based company that specialises in customization, shortening and real-time analysis of links and their engagements. You can create your own Call-to-Action and make your website more attractive. It is still in pre-launch mode, with two plans for early access:

  • Early Access Deal: At just $75, you can get lifetime access to basic features available, such as infinite redirects, tracking of 50K visits per month, 2 retargeting pixels, etc.
  • Early Access Deal + Plus: By paying $150, you can get lifetime access to features available in the Plus package, such as a team of 50 members, tracking of unlimited visits per month, infinite retargeting pixels, etc.

Simon Høiberg, the founder, already owns a successful social media management company and has gained much experience from it. He learned about the wants and demands of the customers and wanted to do something more. He then built the link-shortening product accordingly. Initially, only the website was created and linked with the existing company to get the customers who were already there with it. Such customers knew about LinkDrip as an extension of the existing product while using it.

After it gained much attention and earned a good amount of pre-sales revenue, Simon opened it to the general public at a higher price. Also, the product was promoted through social media sites like Twitter and YouTube channels. These strategies worked due to a pre-existing customer base, good response from them, value received from using his product, a huge number of subscribers, etc.

The amazing response is evident from the pre-launch revenue numbers, that has crossed $75K from 654 customers, out of which $40K was earned in the first week itself.

Simon and his team are now working on the product, wanting eagerly to launch the complete version and getting a good response in return.

3. Code + No-Code Tool Reached $1.2 Million Valuation

MarsX Inc is a Norway-based free and open-sourced platform that provides you with a list of micro-apps from which you can choose to build and develop application for the internet and mobile. You get the option of both coding and no-coding. The micro-apps include both free and paid apps, that follow the pricing tiers defined by the creators.

John Rush, the CEO and co-founder, has always been passionate about entrepreneurship. He has been invested in startups and their technical aspect for 15 years. However, he goes through the same pain and boredom of building the code for each startup. Reusing the codes is out of question. To lessen his own struggles and also of his team, he came up with the idea of Mars in 2020.

The first successful project itself took very less time and was simple. To improve it even further, he brought in a bigger team and developed a second and better version of it, along with a relevant community for it. The real obstacle that came in their path was that no one wanted a risk of trying out a new product when there existed similar products already. However, John didn’t give up – he tried and tried and finally, he succeeded in persuading his friends to test it.

Once Mars came into use by the general public, there was no stopping its growth. The users loved it and their word of mouth gradually fetched outside customers. Low prices compared to the market and a grant system both worked in its favour. Developing the unique and effective product has proved fruitful as no customer has left unsatisfied. In fact, user base is growing every day. Working on podcasts, conferences, public appearances, brand recognition has proved effective in gaining trust in the market. Currently there are 261 projects on Mars.

But one thing that might have harmed the popularity is the building part, that is a bit difficult and challenging. So, there are developers available on the platform who help customers in this process and ease their life. Commission on their service is the main source of John’s income. This is evident from the revenue that has reached $100K per month. Mars has also raised funding in a seed round and has a valuation of $1.2 million in October 2022.

John is now looking forward to expand his business and concentrate on a target customer base. He wants public to accept his product wholeheartedly and spread it to others, and is working to achieve this goal.

So, what did we actually learn from these three stories? If you have the intent to do something and become successful, no one can stop you! Through hard work and experience – you can earn in heaps and bounds without having to compromise with your passion.

News Bites

1. Poor People from Underdeveloped Countries can be NPCs in Games 

That sounds a lot like a Black Mirror plot, to be honest! 

A crypto game consultant suggested that players from underdeveloped nations can serve as NPCs or non-playable characters in the worlds of gamers from more developed nations. 

A member of WolvesDAO and chartered accountant, Mikhai Kossar commented that with the cheap labor of a developing nation, you can employ individuals as NPCs (non-playable characters), in your real-life game. 

Players from underdeveloped nations might simply fill the world according to Kossar. As per crypto game consultants, people from underdeveloped countries can do various jobs or just walk around the game world, catch fish, tell stories, become a merchant, or do just about anything they wish to do. The objective of WolvesDAO is to provide the blockchain gaming sector with crucial insights, information, and tools to construct the video games and communities of tomorrow, according to the membership application form. 

It seems possible that the future community will be dystopian. Some people find it demeaning to make actual people from all over the world role-play as robot-like NPCs. 

It’s a repugnant notion that is exemplified by the word exploitation in the lexicon and is entirely appropriate for the NFT industry, says video game journalist Andy Chalk. 

It also calls into question the morality of Web3 gaming in general, since scholars in developing nations already participate in play-to-earn blockchain videogames using NFTs they cannot afford to own, with NFT owners taking a cut of the winnings.

2. World Bank is Off track as this 2030 goal won’t be met

There were expectations that the world poverty issue would be dealt with in the upcoming years, until COVID-19 decided to ruin the party. Now, as per new projections, the extreme world poverty level won’t be ending by 2030, as was originally planned. 

In 2020, the world had almost 10% of the population living in extreme poverty. In this same year, a pandemic struck and made matters worse. To add to this, we now have a Russia-Ukraine war and who knows how many more issues waiting to come to light. But what it does mean for sure is the failure to meet the planned goal which is still 8 years away. 

On the current track, the world is expected to have at least 7% of people still living in extreme poverty when 2030 comes. Most of these poverty issues will persist in Africa. Inflation, slowdown of economic growth, and other such factors have been put forward as the reasons for this derailing from the original track.

3. DCX Systems IPO launched on 31st October 

DCX Systems, headquartered in Bengaluru launched its Initial Public Offering (IPO) on October 31 and ended it on November 2. The firm is a producer of electronic subsystems and cable harnesses. The money raised from the IPO will be used for general company operations, debt repayment, providing working capital, investing in its subsidiary, and so on. 

The business reduced the size of the new issuance from the original target of INR 500 Cr. to INR 400 Cr. It intended to generate $400 million and an offer of sale of INR 100 Cr. by the promoters and current shareholders. The IPO’s pricing range was set at INR 197-207 per share. The grey market premium, or GMP, for the company’s shares, before the event was INR 40 per share. Before they are registered on stock exchanges, IPO shares are traded in an unregulated market for a premium known as GMP. From INR 1,042 Cr. in 2019 to INR 2,855 Cr. in 2021, DCX Systems’ order book has grown significantly.  

The company’s main business activities include system integration, kitting, and the production of a wide range of cables and wire harness assemblies. The business has 26 clients, including Fortune 500 firms, MNCs, and start-ups in Israel, the US, Korea, and India. It has clients in a variety of industries, including rail and aerospace, as well as military and aerospace.  

In the previous three fiscal years, DCX Systems’ revenues climbed three times, while its profitability increased several times. The corporation generates a sizeable amount of its US dollar profits by exporting its goods. The rupee is now at its highest level after declining considerably during the previous year. Peer firms for DCX Systems in the listed arena include Bharat Electronics, Data Patterns (India), Paras Defence and Space Technologies, Astra Microwave Product, and Centum Electronics.

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Until next week, keep minting money!

Aditya

Founder, Moneymint