Beam Analytics
About the Company
Beam Analytics is a web analytics platform designed to be a GDPR-compliant alternative to Google Analytics. The product provides standard web analytics, such as unique visitors, page views, and bounce rates, while also offering advanced features like funnel analysis and cohort retention. The platform is easy to integrate, requiring just one line of code on a website. Beam’s pricing model is designed to be affordable, with a free tier and a low-cost subscription that allows for an unlimited number of domains and team members.
Founded by JR and Leng Lee, Beam Analytics emerged from their previous experiences in the tech industry. Both founders had a strong background in their respective fields—JR in engineering and Leng in product management—and a shared appreciation for startup culture and history. Their combined expertise and mutual respect for each other's skills played a crucial role in the development of Beam.
The company's mission is to provide a reliable and affordable web analytics tool that prioritizes user privacy and compliance. Beam's commitment to GDPR compliance is a core aspect of its value proposition, making it an attractive option for website owners who are concerned about privacy and data protection.
Idea Behind Company
The idea for Beam Analytics originated from JR and Leng’s previous experiences with indie hacker projects and their mutual interest in solving real-world problems through technology. JR had previously worked on two projects—Flurly, an online payment processor, and GraphJSON, an event logging tool—that provided valuable insights into the tech industry. Leng, who had a background in product management and a keen interest in startup history, brought complementary skills to the table.
Their initial discussions focused on creating a SaaS business that could serve as a lifestyle business, rather than a VC-backed venture. They wanted to develop a product that could address a specific pain point in the market, particularly in light of recent legislative changes affecting the tech industry. The idea to create a GDPR-compliant alternative to Google Analytics emerged from their research into the space and their observations about the growing demand for privacy-focused web analytics tools.
The founders were particularly interested in the potential to capitalize on the market opportunity created by the non-compliance of Google Analytics with GDPR regulations. They believed that by offering an affordable and compliant solution, they could attract a broad range of customers, not just those willing to pay a premium for compliance.
Creating the Company
The development of Beam Analytics began in October 2022, with the goal of creating a polished and user-friendly product that would stand out in the crowded analytics market. JR and Leng decided to invest in professional design services to give their product a distinctive look and feel. They worked with a designer friend of Leng's to create the Beam brand, including the name and logo, which were inspired by the idea of data illuminating insights, akin to a beam of light.
The founders focused on building a product that would not only meet the basic requirements of web analytics but also offer additional features that would add value for users. Leng’s experience as a product manager influenced the decision to include features like funnel analysis and cohort retention, which are typically more difficult to implement but provide significant insights for businesses.
On the technical side, JR leveraged his previous experience with GraphJSON to choose a technology stack that would be both cost-effective and capable of handling the demands of a GDPR-compliant analytics platform. The use of ClickHouse, managed by TinyBird, allowed JR to focus on product development without worrying about managing the underlying infrastructure. The choice of EU-based servers ensured that all data processing would comply with GDPR regulations.
Launching the Business
Beam Analytics was officially launched in January 2023, with the founders using a simple tweet thread to announce the product to JR’s followers. Despite having only 4,000 followers, the tweet garnered nearly 30,000 views, generating early traction for the platform. The founders also prepared several blog posts in advance to help with SEO and to provide detailed information about the product's features and compliance with GDPR.
The initial response to Beam was positive, with the platform quickly attracting a diverse user base, particularly in Europe. The founders continued to engage with potential users through social media, responding to tweets about Google Analytics alternatives and promoting Beam as a viable option. They also set up customer support through Crisp, allowing users to ask questions directly from the website.
Financially, Beam started with minimal expenses, keeping costs low by leveraging credits from service providers and choosing affordable options for infrastructure and tools. The founders were focused on maintaining a low burn rate while gradually increasing their monthly recurring revenue (MRR). Their primary goal was to achieve a steady state of growth without the pressure of external funding.
Earnings
Since its launch, Beam Analytics has experienced steady growth, with the user base expanding at a rate of 3-4 new sign-ups per day. As of early February 2023, the platform had reached over 100 users. While the conversion rate from free to paid users has been slow, the founders are optimistic that the product's value will lead to more users upgrading over time.
The platform's MRR was reported at $20, with a monthly burn rate of approximately $40. The founders have been cautious with spending, focusing on essential services like server hosting, email, and domain registration. They have also explored affiliate marketing as a potential revenue stream, although it is still in the early stages.
Looking ahead, the founders are focused on increasing distribution and improving user engagement. They are closely monitoring user activity on the platform to identify areas for improvement and to ensure that users derive value from the analytics provided by Beam. Their long-term goal is to reach a cash flow positive state, which would provide financial stability and allow them to continue growing the business without external funding.
