Todoist
In 2007, Amir Salihevnidj was a student juggling two programming jobs and needed a better way to manage his work and priorities. He couldn't find an existing tool that fit his needs, so he did what developers do—he built one for himself. "I was just building a tool," he recalls. "I don't think he saw it as a startup or had any particularly big ambitions."
Amir launched Todoist with minimal fanfare—just a link posted on his popular blog. "I posted a link there and then people just started to sign up and use the product," he remembers. The organic growth was steady from day one. Within weeks, he decided to add a premium tier to cover server costs. "I was a student and didn't really want to pay for the server costs. So I just put up a premium version where they needed to pay like $3 a month or whatever. And like already from the get go, it paid for the service." Remarkably, this freemium model at that exact price point became the industry standard—competitors would later copy it exactly.
In 2008, just as Todoist was gaining traction with roughly 100,000 users, Amir received an offer he couldn't refuse: a job at a social network startup (Plurk) in Taiwan. For the next four years, he maintained Todoist minimally—fixing bugs and keeping it online—but didn't actively develop it. The growth curve flattened dramatically. "Between 2008 and 2011 or 12, nothing happens for Todoist," he admits. "I abandoned the space and the product."
By 2011-2012, Amir was burned out. "We would spend a lot of time optimizing for wasting people's time... how can we make them waste more of their time," he says of his social network work. "After three years doing that, I was just sick and tired of that." He realized he wanted to work on something meaningful—something that helped people get more done, not waste time. He still used Todoist every day. He still received emails from grateful users thanking him for building it. Most importantly, he saw the mobile revolution coming and sensed massive opportunity ahead.
When Amir returned full-time in 2012, Todoist had roughly 200,000 users (with only tens of thousands active). Using his newfound experience with product development and design, he quickly rebuilt it for mobile and made the premium model sustainable enough to pay himself within months. He hired a support person almost immediately to handle the influx of emails, freeing himself to focus on development. From 2012 onward, the product accelerated: it grew from 200,000 users to over 4 million today.
The key to Todoist's success, Amir believes, isn't copying trends or chasing every user request. "The product is basically made for us and we are huge users of the product," he explains. He filters user feedback carefully rather than trying to build for every request. He stayed true to his original vision while letting the mobile moment lift the entire product category. The result: a profitable, self-sustaining business used by millions, including Fortune 100 companies, all while Amir built a fully remote team of 40+ people spread across the globe.
- •Solving a genuine personal pain point created a product with strong product-market fit that users organically evangelized without marketing spend.
- •The freemium model with sustainable monetization ($3/month premium tier) was validated immediately by early users covering costs, proving the business model before scaling.
- •Returning to the product with renewed purpose and mobile expertise at the exact moment the market shifted to mobile allowed Amir to capture massive growth rather than compete in a saturated desktop space.
- •Maintaining disciplined product vision by filtering user requests rather than building everything meant resources stayed focused on core value delivery, which resonated with power users who drove word-of-mouth.
- 1.Build a tool to solve your own acute problem first, then share it in a channel where your target audience already pays attention (like an existing blog audience) rather than investing in paid customer acquisition.
- 2.Test a freemium model immediately by charging a low monthly fee ($3-5 range) to cover infrastructure costs, using early willingness-to-pay as validation that the business model works before scaling.
- 3.When returning to a product with stalled growth, identify the next major platform shift (mobile, AI, etc.) your category will experience and rebuild your core product for that platform rather than incrementally improving the old one.
- 4.Hire a support person early to handle customer communication, freeing the founder to focus on product development rather than spreading attention across operations and building.
Similar Companies
247.ai
$25.0M/mo247.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/moiCIMS 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/moZoom 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/moMadwire 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.
Plunge
$10.0M/moPlunge is a hardware company that manufactures and sells at-home cold plunge devices. Founded in 2020 by Ryan Duey and Michael after their brick-and-mortar float therapy and sauna businesses were impacted by COVID, the company grew from $270k in first-year revenue to $120M+ ARR in four years. Their success is driven by influencer gifting, organic word-of-mouth, and highly efficient paid advertising (7-10x ROAS on Facebook and Google).