In this podcast, David Kloba & Rob Meinhardt, Co-Founders of Furious Collective, discuss the mindset and methodology of their venture production studio, recount their adventures over the past year of growing FormKeep after having acquired it from thoughtbot, and offer advice to founders preparing to sell their product or company.
Furious Collective is a venture production studio. Since we began in early 2017 our vision has been to establish multiple businesses that can each become profitable within twelve months of inception and continue to grow profitably. Our initial plan was to primarily bootstrap these businesses; however, we have uncovered many opportunities to buy established, small software businesses as well.
Presently, we are working on two unannounced incubation projects and, last week, we acquired FormKeep from thoughtbot, a consulting company based in Boston. Check out their announcement.
FormKeep is an easy-to-use cloud database that gives developers and web designers a simple way to capture, store and share data collected from web forms. FormKeep’s API and Zapier webhook add versatility and make it easy to connect over 750 apps and automate workflows.
Founded in 2013, FormKeep now serves hundreds of companies and organizations. Customers have come up with countless ways to use FormKeep to speed up their workflows and deploy web-based data collection applications such as sign up pages, lead collection, registration pages, event planning and more.
There are three primary reasons why FormKeep is such a good fit for our model at Furious Collective:
- Expanding, Regenerative Market:
We believe that there is an infinitely expanding market for tools that help average citizens (aka, citizen developers) and web designers build simple apps and collect information online on behalf of their businesses, sports teams, religious organizations and so on. This fits into an early thesis of ours that regenerative markets are attractive because there is always a new and growing list of potential customers to engage.
- Established, Profitable Business:
FormKeep has a terrific product that makes customers lives easier and, with hundreds of paying customers, FormKeep is already a profitable and growing business. We are excited to keep investing in this company in a sustainable, profitable manner and expanding the customer base and improving the product over time.
- Anchor Potential:
We believe that FormKeep is established enough in a very large market that it can become an anchor tenant in our portfolio. Over time, we hope to add other businesses both acquired and home-grown to increase our footprint in the market and build a valuable, large company.
Expect big things from FormKeep and keep an eye out for announcements about our other projects soon. And, if you haven’t tried FormKeep, give it a try!