View the numbers

Horse is an Open Startup, which means we share our metrics publicly—the good, the bad, and the occasionally surprising. For years, we stubbornly refused to lower prices or add free trials. Then we decided to actually listen to the internet.

First experiment: we dramatically slashed our prices. The result; both revenue and user numbers 🚀 took off like a rocket. Turns out all those YouTube commenters actually knew what they were talking about. Who would've guessed?

Emboldened by this success, we went for the second most requested feature: free trials with automated support. That doubled our signups from random Google traffic, but took a chunk out of our revenue. The good news? Our conversion rate sits at a ridiculous 30% (normally indie B2C apps do just 10%), which basically means we're still giving Horse away too cheaply.

So now we're on the third act of our pricing pony ride: gradually raising prices to recoup that revenue hit from adding free trials while maintaining healthy growth. It's like tuning an engine while the car is moving, all while still not being able to afford minimum wage. Yeehaw!


Last updated: less than a minute ago
Monthly Return Revenue

This graph shows our monthly return revenue (MRR). Look at that spike after the price drop! Then watch what happens when we added free trials. Business is an adventure.

¹Server bills and infrastructure. The bare minimum to keep the lights on at $500/month.

²A cool $1k salary each for Elly and Pascal. Not exactly flying private jets, but enough for premium ramen.

³At this level, we can hire someone to fix bugs while Pascal makes the UI even prettier.

⁴We slashed our prices; revenue and user numbers went through the roof. Commentators were right all along.

⁵We added free trials and automated our support. Signups went up a tiny bit, but revenue took a big hit. Commentators were wrong this time.

Revenue

This graph shows the monthly revenue, which is the sum of all incoming payments.

¹We slashed our prices; revenue and user numbers went through the roof. Commentators were right all along.

²We added free trials and automated our support. Signups went up a tiny bit, but revenue took a big hit. Commentators were wrong this time.

Signup Rate

This shows the percentage of website visitors who either start a free trial or make a direct purchase.

¹Pieter Levels recommends a 0.2% signup rate for independent startups using this very metric.

²We adjusted our target to 2% in October 2024, after advice from Danny Postma.

³We slashed our prices; revenue and user numbers went through the roof. Commentators were right all along.

⁴We added free trials and automated our support. Signups went up a tiny bit, but revenue took a big hit. Commentators were wrong this time.

Conversion Rate

The percentage of trial users who pay up. We're running at a ridiculous 30% versus the 10% industry standard—meaning we're still undercharging even after all our price experiments.

¹Most B2C indie startups hit around 10% conversion. We're at a wild 30%, so we're gradually nudging prices up to recoup that free trial revenue hit while finding the sweet spot.

²We slashed our prices; revenue and user numbers went through the roof. Commentators were right all along.

³We added free trials and automated our support. Signups went up a tiny bit, but revenue took a big hit. Commentators were wrong this time.

Visitors

This graph shows the number of visitors per month on the website.

¹We slashed our prices; revenue and user numbers went through the roof. Commentators were right all along.

²We added free trials and automated our support. Signups went up a tiny bit, but revenue took a big hit. Commentators were wrong this time.

Total Riders

This graph shows the number of riders who have an active licence for Horse.

¹We slashed our prices; revenue and user numbers went through the roof. Commentators were right all along.

²We added free trials and automated our support. Signups went up a tiny bit, but revenue took a big hit. Commentators were wrong this time.

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Japanese TeasGoogle Search
Green TeaWikipedia
Matcha TeaWikipedia
Sencha TeaWikipedia

Wikipedia

Sencha Tea

Sencha (煎茶) is a type of Japanese ryokucha (緑茶, green tea) which is prepared by infusing the processed whole tea leaves in hot water. This is as opposed to matcha (抹茶), powdered Japanese green tea, where the green tea powder is mixed with hot water and therefore the leaf itself is included in the beverage. Sencha is the most popular tea in Japan. It represents about 80 percent of the tea produced in Japan.

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Pascal and Elly at Disneysea Tokyo
About us

Hello! We're Elly and Pascal. Thank you for supporting our little indie browser. Read on for the personal Trails® that brought us to where we are today.

Pascal and Elly at Disneysea Tokyo