Below is the monthly update email I have just sent this morning to all our investors. I hope you enjoy taking a read about the full details of our work on Buffer in the last month. I’m excited to hear from you in the comments if you have any questions about what we’re up to!

Growth/numbers:

  • New users: 77,000 (Total: 1,123,000, from 1,046,000: +7.4%)
  • Daily active users: 32,500 (from 30,000: +8.3%)
  • Revenue: $199,000 (Annual: $2,388,000 up from $2,088,000: +14.4%)
  • Business revenue: $30,510 (up from $12,340: +247%)
  • Cash in bank: $311,719 (last month: $283,457)

Security breach last weekend:

On Oct 26, Buffer was hacked. Access tokens of Facebook and Twitter profiles were exposed during the hack (around 19% of facebook profiles and 32% of twitter profiles). Since then, we have identified the source of the breach and have significantly increased the security of our product and company. We have also built two-factor authentication for Buffer and are using it internally within the team. We plan to launch this to all users soon.

The hack led to a spike in downgrades during the week of Oct 26 (1.6x the average weekly downgrades). We see from the daily numbers it has come down back to the normal levels.

buffer weekly downgrades

Buffer for Business and Enterprise:

  • 59% MoM MRR growth of Buffer for Business (to $16,350)
  • 247% MoM total revenue growth (to $30,510)
  • Buffer for Business was 15.3% of total revenue in October (7.1% in September)
  • 268 total paying customers compared to 164 in September (63.4% increase)

More data on Buffer for Business for October.

The team will soon be 16 people:

This month, we made two offers to customer support staff and one backend engineer (and all have accepted!). A month from now, our team will be at 16. We are looking for 6 people: 2 support engineer, 1 front-end engineer, 1 back-end engineer and 1 devops and 1 community manager. With our focus on culture-fit we’re happy for this to be a long-term endeavor.

Let me know any questions you have on our progress, I’d love to answer them.

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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.

  • How do you define daily active users?

    • Hey Jeff, that’s an awesome question!

      For us, a user is active if they have posted to a social network via Buffer (our key value).

      So for daily active users here we take each day of the month and figure out the active users, and then we averaged that out for the month.

      Does that make sense? Let me know if you have any other questions.

  • Heather YamadaHosley

    I remember when you first mentioned the CM position in one of these posts and I’ve been checking almost daily to see if it was up. Very excited to see it this morning! Will be applying ASAP. :)

    • Awesome to hear, Heather! That makes me think, I should link to it in the post here! Thanks for the idea :)

      • Heather YamadaHosley

        Yes, that would be great! :)

  • nikhil

    Hey Joel it would be great if you can share your churn numbers too.

    • teamtint

      That would be awesome to benchmark with such a successful company like yours!

      • Ryo Chiba

        I would be interested as well :)

  • shayonj

    Great going Buffer! Congrats to new 16 as well :). You guys should open up some intern positions too ;).

    • I’m so excited to grow the team! Hopefully soon it’ll make sense for us to think about intern positions, Shayon :)

  • Right on Joel. Loving the transparency. We also share our numbers, it makes for compelling content!

  • nice progress! congrats Joel.

  • Anca Dumitru

    Awesome results, Joel! Also loved your interview with Huffington Post Live. Keep flying high! :)

  • Love the transparency!

  • chexton

    Thanks for the transparency Joel. There seems to be so little out there in the vein of this post. Inspirational and practical for those of us earlier in the journey.

  • Yuvir Pillay

    I love the transparency and bringing everyone along on tgis journey with you :) very compelling read. I have also applied for the community manager. Seems like a great opportunity to help and be part of this.

  • Erik Hesler

    Hi, Joel. Is there reason why the company does not publish the SG&A numbers in the ‘Growth/numbers’ section? It would be interesting to see what % of revenue your salaries, benefits and other overhead is as a % of revenue.

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