← Back to browse

Refolo

by Lola Ojabowale@ojabowalolavia Failory
See all SaaS companies using community
Growthcommunity
Time to PMF1 year
Pricingsubscription
Built in2 years
The Spark

Lola Ojabowale's dad was diagnosed with cancer and had to drastically change his diet, developing sensitivities to some of his favorite recipes. Figuring out what to eat became a struggle. "I thought there had to be a better way to figure it out," Lola recalls, "so I started working on Refolo." At the time, she was managing teams at an eCommerce company and studying math and engineering—not food or health. But the personal problem felt urgent enough to build a solution.

Building the First Version

Lola started on Refolo while taking a UX design class part-time, using it as her final project and conducting initial user interviews. The path to MVP was iterative and scrappy: first an iPhone app in Swift, then a Coda doc, then WordPress with plugins, and finally a Bubble app. "It took a year from when I first had the idea to when I had something people could use," she admits. The business model was straightforward—a $15/month subscription for customizable plant-based recipes with shoppable ingredients delivered via Instacart or Amazon Prime.

Finding the First Customers

Lola held a meetup for plant-based eaters in Atlanta that grew to over 100 members, which became a source of initial testers. She also cross-promoted and held virtual events with plant-based influencers on Instagram. "It was fine to get people to sign up but didn't attract any paying users," she reflects. There was "a lot of fake traction"—getting into an entrepreneurship program, collaborations—but none of it converted to revenue.

What Went Wrong

After two years and "a few thousand dollars" in expenses (mostly hosting at $30-$40/month plus events and conferences), Refolo never gained traction. The core issue: "I didn't have a repeatable process for finding people who wanted to pay for the product." People could find meal-planning information for free and were satisfied with free alternatives. Six months after leaving her job to focus full-time, with no revenue and no promising signs, Lola shut it down. "Selling a solution for a problem that people weren't already investing money to solve" was a fatal flaw.

Lessons Learned

Lola identified the root causes: poor maker/problem fit, launching too early without experimentation, and targeting a problem without existing willingness to pay. In retrospect, she would "invest in growing a community around the problem first and then figure out what products are needed" rather than starting with assumptions based on one person's experience. She'd also run many small experiments instead of betting everything on one vision.

Why It Worked
  • Targeting a problem without pre-existing payment behavior is extremely risky; people being willing to use a solution for free signals they won't pay for it.
  • Long development timelines without customer validation create emotional attachment to a vision rather than flexibility to pivot based on market feedback.
  • Community building (meetups, influencer events) generates vanity metrics (signups) that mask the absence of product-market fit and willingness to pay.
  • Spending months iterating on product (Swift → WordPress → Bubble) without first validating that a paying market exists wastes time and resources.
  • Founder's background and single personal data point (dad's diet) created blind spots; deeper immersion in the plant-based community would have revealed free alternatives dominate the space.
How to Replicate
  • 1.Before building any product, validate that your target market is already paying someone for a similar solution; if they're not paying anyone, you're likely in a free/low-intent segment.
  • 2.Run short experiments (2-4 weeks each) testing different customer acquisition channels and messaging; measure paying customer conversion, not just signups.
  • 3.Spend 6-8 weeks in the community you're serving before writing code; interview 20+ people in detail about their current solutions, how much they pay, and frustrations.
  • 4.Build an MVP that requires zero code (use Airtable, Google Sheets, or manual fulfillment) to test the business model with real money; only automate once you have paying customers.
  • 5.Establish a target metric (e.g., 'acquire 10 paying customers in 30 days') and if you can't hit it within 3 months, explore adjacent problems or markets where willingness to pay is proven.

Similar Companies

247.ai

$25.0M/mo

247.ai, founded by PV Cannon in 2000, is an AI-powered customer service automation platform serving over 150 enterprise customers with $300M+ in ARR. The company raised only $20M from Sequoia (2003) and bootstrap, achieving 10% net profit margins while maintaining a 12-month CAC payback period and 100% net revenue retention. Despite a security breach setback around 2018, 247.ai has recovered and recently achieved 20% new revenue booking growth in their best quarter.

iCIMS

$13.3M/mo

iCIMS is a bootstrapped SaaS provider founded in 1999 that dominates the talent acquisition software market as the #2 player, serving 3,500 enterprise customers with an average monthly spend of $4,000. The company exited 2017 with $160M ARR and is targeting 25%+ annual growth while maintaining profitability, recently acquiring Text Recruit to expand into candidate messaging and recruitment advertising.

Zoom

$12.0M/mo

Zoom is a freemium SaaS video conferencing platform founded by Eric Yuan in July 2011 after he left Cisco to build a next-generation collaboration solution. The company has grown to 850,000+ paying customers across individual, SMB, and enterprise segments, generating over $12M in monthly recurring revenue with approximately 100% year-over-year growth. Rather than focusing on customer stickiness or aggressive growth targets, Zoom emphasizes customer happiness and organic word-of-mouth acquisition, which has proven highly effective in driving viral adoption.

Madwire

$10.0M/mo

Madwire is a comprehensive SaaS platform for small businesses (1-100 employees) that combines CRM, payments, invoicing, billing, e-commerce, and multi-channel marketing tools in a single platform. Founded in 2009, the company has grown to $120M ARR serving 20,000 customers with an average revenue per user of $500/month, while maintaining strong unit economics ($3,000-$4,000 CAC with 3-month payback) and recently turning profitable with a focus on reaching 15-20% EBITDA margins. The company is exploring an IPO within 12-18 months without having raised substantial capital beyond an initial $7.5M.

SwiftPage

$7.0M/mo

SwiftPage is a CRM and marketing automation platform founded in 2001 that targets small businesses. Under CEO John Oshel's leadership since 2012, the company scaled from 60,000 customers with $26.2M revenue in 2015 to 84,000 customers today with an estimated ARR of $36M+, maintaining 1.5% monthly logo churn and a 6-7 month payback period with a sub-$500 CAC.

Related Guides