Josef Trauner @Usersnap. How to prepare a SaaS company for acquisition

saas.unbound is a podcast for and about founders who are working on scaling inspiring products that people love, brought to you by https://saas.group/ . I’m your host Anna Nadeina, Head of Growth for saas.group. In this episode #46, we talk with Josef, CEO and founder of Usersnap, the #1 customer feedback software for growing SaaS companies. And of course, now a member of saas.group’s family. 

Building Successful Customer Feedback Software

Introduction

In this episode, we have the pleasure of speaking with Josef, the CEO and Founder of Usersnap, the number one customer feedback software for growing SaaS companies. Usersnap recently joined the saas.group family, and Josef shares his journey in building the company and his experience with the acquisition process. 

We dive into topics such as the inspiration behind Usersnap, the challenges faced in finding product-market fit, and the importance of focusing on a specific target audience. Josef also highlights the process of pricing the business and the post-merger integration with saas.group. Lastly, we discuss the future roadmap for Usersnap, including the addition of AI capabilities to support product managers in making data-driven decisions. 

Background and Inspiration

Josef shares his tech background and experience working as a consultant and engineer on various web projects. He identified the problem of effectively collecting feedback and bug reports from users and was inspired to create a solution. Usersnap started as a simple bug tracker, allowing users to capture screenshots and technical information and submit them to platforms like Jira. However, Josef and his team quickly realized that there was a demand for more than just bug submissions. Customers wanted to provide general product feedback, ideas, and suggestions for improvement. This feedback-driven approach led to the evolution of Usersnap into a comprehensive feedback platform that serves SaaS companies.

Challenges in Finding Product-Market Fit

Josef highlights the challenge of finding the right focus and target audience for Usersnap. As a feedback platform, Usersnap could serve a wide range of customers in different verticals. However, Josef emphasizes the importance of narrowing down the focus to provide the most value to a specific segment. Usersnap identified product managers in SaaS and software companies as their main target audience. By understanding the unique needs and challenges of product managers, Usersnap aims to provide valuable tools and simplify the feedback collection and analysis process.

The Acquisition Process

Josef discusses the decision to sell Usersnap and the acquisition process with saas.group. He highlights the importance of being prepared with market research and understanding the valuation of the business. Joseph emphasizes the need for clear communication and transparency during the acquisition process, particularly regarding valuation, deal structure, and any strings attached. Usersnap’s acquisition by saas.group provided a structured and smooth process, ensuring a seamless transition for the company.

Post-Merger Integration

Josef shares his experience with post-merger integration, the role of communication, and being open to new ideas. He acknowledges that change is inevitable after an acquisition and encourages founders to embrace new ways of doing things. 

While it is essential to maintain transparency and provide feedback on what works and what needs improvement, Josef emphasizes the importance of being open to change and adapting to the new environment. He highlights the smooth integration process with saas.group and the support received throughout the journey.

The Future Roadmap for Usersnap

Looking ahead, Josef discusses the future roadmap for Usersnap, with a focus on enhancing AI capabilities and building additional functionality for product managers. Usersnap aims to provide valuable tools to make the lives of product managers easier and streamline the feedback collection and analysis process.

Josef emphasizes the importance of ensuring that AI features add real value and are not just added for the sake of incorporating AI. Usersnap is excited about the possibilities and is working closely with the AI team at saas.group to leverage their expertise.

Lessons Learned and Final Thoughts

Josef reflects on the journey of building Usersnap and shares some valuable insights. He highlights the importance of being open to learning and constantly evolving, especially in areas outside of one’s expertise. Josef acknowledges the challenges he faced in marketing and emphasizes the need to trust your gut feeling and be open to new ideas. He also encourages founders to embrace failure as a learning opportunity and acknowledges the pride and satisfaction that come with building a successful bootstrap company.