At the start of July, we had our 6th team retreat! Despite the substantial cost of this and growing the team faster than ever, we are still profitable and the bank balance has gone up since last month.

We are very happy with this slack we have and the health of the business, and at the same time we would like to grow the team faster and continue filling validated roles.

I’m excited to share the latest update of everything going on at Buffer:

Key metrics

  • 2,592,194 total registered users (+3.2%)
  • 208,667 monthly active users (+1.1%)
  • 51,491 average daily active users (-1.4%)
  • $571,532 monthly recurring revenue (+3.8%)
  • $6.86m annual recurring revenue (+3.8%)
  • $2,655,505 cash in bank
  • 37 team members across the world
  • 28 cities, 10 countries, 4 continents

We’re happy to keep our growth rate fairly steady around 3-4%, and we also have some plans which may help us grow a little faster.

Buffer July 2015

Asks

Team

  • 37 total team members
  • 11 people accepted our offers to join the team in the coming weeks and months
  • We received around 1,500 applications in July
  • We are still growing the team fast, and have 13 open roles we are hiring for
  • We also intend to put together listings and start inviting applications for an Android Developer and an Executive Assistant during August, bringing our open roles to 15

Retreat

Company Structure

  • Last month we mentioned a shift towards adding more structure and making roles and commitments explicit
  • We have now made the transition to working in small teams of 4-5 people
  • We are working based on areas of the product, customer segments, and other logical separations
  • We have fully reintroduced mentorship as well as higher level strategy roles. We’ve re-established everyone in the team having a weekly 1:1 with someone who has significant experience both in their role and within Buffer and with our culture. Several of us in the team have shifted our focus to solving higher level challenges such as company structure, culture of different areas such as product, happiness and engineering, as well as other strategic tasks.
  • Read an article from Leo where he shares all of our mistakes, learnings and new adjustments for self-management at Buffer

Product

  • We’ve started an experiment testing allowing people to pay for the Awesome Plan in Euros
  • We have continued our plan to sunset the Suggestions feature
  • We’ve made some key speed and reliability improvements to Buffer for Business
  • We have started to engage in sales conversations and set up customer success for larger business & enterprise
  • We’re in the early stages of experimenting with a progress indicator in the onboarding flow
  • We’re exploring ways to allow sharing multiple photos to Twitter and Facebook

Happiness, Community and Marketing

  • We started to stream some talks from myself and Leo via Periscope and have had a great reception!
  • We paused the blog and worked on many other initiatives, with some great results and learnings
  • The Happiness team has also transitioned to working in separate areas, giving more ownership and freedom to innovate and progress in individual areas (e.g. Awesome Plan customers, Mobile support, Buffer for Business support)

Thanks again for being part of the Buffer journey. We’d be excited to hear have any thoughts you have for us!

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Written by Joel Gascoigne

Joel is the founder and CEO at Buffer. He is focused on the lean startup approach, user happiness, transparency & company culture. Say hi to him anytime @joelgascoigne.

  • Brian Beard

    Hi Joel,
    All the metrics you report here improve every month (increase), expect for daily active users, which, if I recall correctly, decreases by ~1.5% each month. I’m wondering: what do you think is the reason for this? Are users getting better at using Buffer efficiently, being more productive while logging in less frequently, and therefore the decline is a good thing? Or something less positive? Thanks for the update!
    Brian

    • That’s a good question Brian. I wonder if that number is strictly talking about people logging into the web app or if it is including people who are using the extension, buffer buttons, or mobile app.

  • Amazing news overall! Congratulations!

  • Sylvia

    Since the moment I discovered Buffer just over a month or two ago, I have been continually impressed and challenged by your team and the way you guys do business. I even started using Twitter personally to test out the strategies and know-how shared through your posts. Can’t wait to apply!

  • Ooo … this is all so exciting. Great job! Kudos!

    I’m happy to see a shift towards acquiring more large businesses. And I think it is great that the Happiness team has been segmented into product lines. I think it definitely is a win/win for Buffer and customers.

    As for recruiting … Buffer is definitely ramping up. I’m a little excited about the upcoming Exec Asst role. Will Buffer give a diversity update soon? Pinterest made an announcement regarding their plan to increase diversity. One of the things Pinterest is doing is interviewing at least one diverse applicant per role. Has Buffer considered doing something similar?

    Again, thanks for the update and great job on the progress.

  • Teresa wolf

    Another great post! I love hearing how you are adapting and changing to better suit the needs of your employees, and customers. Your transparency is giving us all an inside look at how things are evolving as the your customer base increases. Keep up the great work!

  • Thanks for sharing these reports. So cool to get insight into how things are going at Buffer each month.

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