- Please enter the url of a 1 minute unlisted (not private) YouTube video introducing the founder(s).
- Who writes code, or does other technical work on your product? Was any of it done by a non-founder?
- How long have the founders known one another and how did you meet? Have any of the founders not met in person?
- Please tell us about an interesting project, preferably outside of class or work, that two or more of you created together.
- Please tell us in one or two sentences about something impressive that each founder has built or achieved.
- Please tell us about the time you most successfully hacked some (non-computer) system to your advantage.
- How far along are you?
- How long have each of you been working on this? How much of that has been full-time?
- When will you have a prototype or beta?
- How many active users or customers do you have? How many are paying? Who is paying you the most, and how much do they pay you?
- We're interested in your revenue over the last several months. (Not cumulative and not GMV).
- Anything else you would like us to know regarding your revenue or growth rate?
- If you are applying with the same idea as a previous batch, did anything change? If you applied with a different idea, why did you pivot and what did you learn from the last idea?
- If you have already participated or committed to participate in an incubator, "accelerator" or "pre-accelerator" program, please tell us about it.
- Why did you pick this idea to work on? Do you have domain expertise in this area? How do you know people need what you're making?
- What's new about what you're making? What substitutes do people resort to because it doesn't exist yet (or they don't know about it)?
- Who are your competitors? What do you understand about your business that they don't?
- How do or will you make money? How much could you make?
- How do users find your product? How did you get the users you have now? If you run paid ads, what is your cost of acquisition?
- Have you formed ANY legal entity yet?
- Please list all legal entities you have and in what state or country each was formed (e.g. Delaware C Corp, Mexican SAPI, Singapore Pvt Ltd, etc.).
- Please describe the breakdown of the equity ownership in percentages among the founders, employees and any other stockholders. If there are multiple founders, be sure to give the equity ownership of each founder and founder title (e.g. CEO).
- Have you taken any investment yet?
- How much money do you spend per month?
- How much money does your company have in the bank now?
- How long is your runway?
- Is there anything else we should know about your company?
MagicBell YCombinator Application
MagicBell successful YCombinator application from 2021 winter batch (YC W21).
If you have a demo, what's the url?More responses
Describe what your company does in 50 characters or less.More responses
In-app notification center for web & mobile apps
What is your company going to make? Please describe your product and what it does or will do.More responses
Where do you live now, and where would the company be based after YC?More responses
Barcelona. After YC, I’ll continue operating from Barcelona. The business is a Delaware C-corp.
Please enter the url of a 1 minute unlisted (not private) YouTube video introducing the founder(s).More responses
Who writes code, or does other technical work on your product? Was any of it done by a non-founder?More responses
Hana (founder) is writing the code with Josue, core team member.
How far along are you?More responses
How long have each of you been working on this? How much of that has been full-time?More responses
About six months, of which the last month has been full time.
How many active users or customers do you have? How many are paying? Who is paying you the most, and how much do they pay you?More responses
* MagicBell is powering notifications for SupportBee, my previous company with over 500 enterprise customers and 20,000 enterprise users. * We are live on another B2B product in the SaaS collaboration space. They are using the free tier. * We are currently onboarding a series-A funded insurance marketplace in Europe. They have signed a contract to bill them at $299/mo once they go live in October.
We're interested in your revenue over the last several months. (Not cumulative and not GMV).More responses
Anything else you would like us to know regarding your revenue or growth rate?More responses
The august revenue is committed but not yet realized since we are still waiting for our EIN to set up our bank account and Stripe. We hope to have it all in place by the time YC sends out the interview invites.
Why did you pick this idea to work on? Do you have domain expertise in this area? How do you know people need what you're making?More responses
I am working on MagicBell because it's a problem faced universally by B2B apps, and one I have experienced personally at my last company - SupportBee, a shared inbox product. There, we deliver over a million notifications a month to our users. Before MagicBell, we spent a significant amount of time writing code to figure out whom to notify (based on the activity and their preferences), delivering the notification via email, and providing customer support when it wasn't delivered timely. When our users asked for an in-app notification center and mobile push notifications, we realized that we'd have to do a lot more work, especially if we wanted to avoid duplicates across channels. We talked to other companies at our scale and validated that they struggle with this problem too. Instead of solving this problem just for SupportBee, we decided to build MagicBell.
What's new about what you're making? What substitutes do people resort to because it doesn't exist yet (or they don't know about it)?More responses
Currently, the only substitute is building the notification system in-house. Based on our experiences, and user interviews, it takes a team of two engineers (frontend+backend) and a designer a minimum of two months to build a basic real-time notification center with multi-channel delivery. The team needs to understand and use APIs from Twilio and Pusher, etc. Usage analytics, debugging logs, fine-tuning the UX, or performing any day-to-day maintenance and troubleshooting is even more work.
Who are your competitors, and who might become competitors? Who do you fear most?More responses
Twilio provides APIs for delivering notifications on different channels and hence could be considered indirect competition. In fact, Twilio just participated in the Series A funding of XXX, that’s solving the same problem, albeit with a different approach. It's possible that companies like Pusher or Onesignal offer a competing product in the future.
What do you understand about your business that other companies in it just don't get?More responses
In an ideal world, everyone would use our API from day one and skip building email notifications entirely. However, today, most companies have already invested in their email notifications and are reluctant to switch to a new API. We find that it's vital not to underestimate this inertia. To help them migrate to MagicBell, without writing any code to talk to our API, we let them bcc their existing email notifications to us and embed our notification center in their product. This setup takes less than 30 mins. Over time they can start using the API to build new notifications. This quick and low-risk way of delivering value to their users significantly reduces the friction of adoption.
How do or will you make money? How much could you make?More responses
We charge a subscription fee for MagicBell's APIs and UI components. The pricing depends on a combination of the number of channels, active user count, notifications volume, and data retention period. Given the business model and deep integration into our customers’ code-base, we expect low churn and healthy expansion revenue (150-200% YoY). At an average revenue per account of $4k/mo and net revenue retention of 150%, we expect to make $30million/yr in the next five years or so, given the right growth capital. The first-mover advantage, combined with the growing market opportunity and our team's expertise in SaaS, makes this a realistic target.
How will you get users? If your idea is the type that faces a chicken-and-egg problem in the sense that it won't be attractive to users till it has a lot of users (e.g. a marketplace, a dating site, an ad network), how will you overcome that?More responses
Our blog post describing the challenge of building a complete notification brings us one lead a week. Given the search volume for relevant keywords, we plan to publish more valuable content to double down on organic user acquisition. Additionally, we are implementing several channels to generate growth - cold emails to targeted companies, a freemium model with a MagicBell branded widgets and partnership with providers of channel APIs (email/text/push). We hope to accelerate all these efforts with the additional funding from YC.
Please tell us something surprising or amusing that one of you has discovered.More responses
Restaurants and hotels spend an insane amount of money on electricity but obsess over keeping lights turned off in toilets. Who hasn’t found themselves in a dark toilet because the motion sensor flicked the lights off while you were doing your business? :)
What convinced you to apply to Y Combinator? Did someone encourage you to apply? Have you been to any YC events?More responses
While I have a great team, as a transgender female founder, I lack the industry network to make this business become the industry leader it can be. I can benefit tremendously from the advice, connections, and support that YC offers.
How did you hear about Y Combinator?More responses
I have been building tech companies since 2007 and known about YC since then. In 2012, I applied with my last company (SupportBee) but didn’t make it in.