Chanty.com is making its mark in the highly competitive field of work productivity apps, a domain where giants like Slack, Loom, and Trello have long held sway. Created by Dmytro Okunyev, Chanty sets itself apart by delivering a wide range of productivity tools that aim to improve workplace communication and project management.
- Launched in 2017
- $3m ARR
- Bootstrapped
- 24000 customers
- 16 employees
A Bootstrapped Phenomenon
Since its inception, Chanty has embraced a bootstrapped model, a decision that has paid off remarkably. The company first welcomed customers in 2018 and has since experienced a trajectory of growth that many startups can only dream of. By 2021, Chanty had confidently turned down a $20 million acquisition offer, a testament to its founders’ belief in the company’s potential and its value proposition. Today, Chanty boasts over 24,000 paying customers and generates three million dollars a year in revenue, a significant achievement for a company that has not relied on external funding.
Leveraging Affiliate Strategies for Growth
One of the keys to Chanty’s success has been its strategic use of affiliate marketing. The company has built a robust network of affiliates, with a notable partnership in India contributing significantly to its customer base. This partnership alone accounts for about 250 of the 500 new customers Chanty acquires each month. Such partnerships have allowed Chanty to expand its reach and scale its customer base efficiently, all while maintaining impressive profit margins.
Despite its success, Chanty is on the lookout for a sales co-founder. Dmytro Okunyev is willing to offer a 15% equity stake to a “rockstar” who can help take Chanty to the next level. This move underscores the company’s ambition to not just sustain its growth but to accelerate it.
Competing with Giants
Chanty’s ability to compete with behemoths like Microsoft Teams and Slack is noteworthy. The company offers a suite of tools that rivals the functionality of its competitors but at a fraction of the cost. For instance, Chanty provides chat, video call capabilities, and project management tools for as low as $4 per user per month, significantly undercutting the prices of its competitors. This competitive pricing, combined with a product that doesn’t compromise on quality, has been central to Chanty’s appeal and success.
Chanty’s strategy involves a focus on small businesses, a sector often overlooked by the giants in the industry. With a pricing model significantly lower than its competitors, Chanty offers a comprehensive suite of tools that includes chat, video calls, and project management. This approach not only makes Chanty an attractive option for small businesses but also aligns with its vision of becoming an indispensable virtual assistant for the modern workplace.
The Challenge of Scaling Enterprise Clients
While Chanty has seen success in acquiring small to medium-sized businesses, scaling to enterprise clients presents a different set of challenges. Okunyev candidly shares that despite acquiring six enterprise clients over seven years, finding a repeatable model for attracting such clients has been difficult, primarily due to the absence of a dedicated sales team. This realization has led to a search for a sales co-founder, someone who can bring a fresh perspective and drive towards capturing more significant market segments.
The Importance of Storytelling and Content Diversity
Beyond its affiliate marketing success, Chanty employs a variety of strategies to attract new users. Content marketing plays a crucial role, with the company investing in SEO and creating valuable content that resonates with its target audience. Interestingly, articles on productivity quotes and detailed guides on using WhatsApp for business have driven significant traffic to Chanty’s website, showcasing the power of targeted content marketing.
Okunyev emphasizes the importance of storytelling and the need for content that not only entertains but also converts. By employing a mix of in-house and freelance writers, Chanty ensures a diversity of voices and styles in its content, appealing to a broader audience. This strategy, coupled with a focus on long-tail keywords and a deep understanding of their customer’s journey, has allowed Chanty to compete effectively in a crowded market.
Looking Ahead: Growth and Innovation
As Chanty continues to grow, its focus remains on innovation and expanding its offerings to meet the evolving needs of its users. With a clear vision, a commitment to serving small businesses, and a strategic approach to marketing and customer acquisition, Chanty is well-positioned for continued success. The journey of Chanty, under Okunyev’s leadership, is a testament to the power of vision, resilience, and the ability to carve out a niche in a competitive industry.
Famous Five
Favorite Book: “Principles” by Ray Dalio.
Favorite CEO:While Okunyev does not single out a specific CEO as a constant source of inspiration, he expresses interest in the leadership behind OpenAI.
Favorite tool: Figma emerges as Okunyev’s preferred online tool, highlighting his focus on design and user experience. Figma’s collaborative interface design tool reflects Chanty’s commitment to creating intuitive and user-friendly products, facilitating seamless collaboration among team members and contributing to the platform’s overall appeal.
Balance: He averages seven hours of sleep per night, indicating a balanced approach to work-life harmony.
His advice to his younger self: Reflecting on his younger years, Okunyev wishes he had started his entrepreneurial journey earlier and embraced more risks. This sentiment highlights a key lesson in the value of experimentation and learning from mistakes. Okunyev’s perspective highlights the importance of resilience and the willingness to explore new ideas, which have been crucial to Chanty’s development and success.
