Important changes at TeamWave: We are moving away from “free”

We are pivoting away from a free service to a premium service.  

  • TeamWave will continue to be free for single-user accounts
  • Accounts with more than 1 user will get a 14-day free trial. At the completion of trial you will be asked to upgrade. Pricing starts at $20 /Month for 10 Users (that is, $2 per user)
  • All accounts get ALL apps & features (CRM, Projects, HRMS, Invoicing*)

Here’s why we are pivoting:

We started TeamWave with the intention of making simple productivity apps available to small business at no cost. Our plan was to keep the basic edition free forever, and charge only for the premium edition. However …

  1. We realized in due course that building a sustainable “freemium” business in this market requires massive funding. While the success of our model was dependant on getting institutional investors on board, the investors we met did not share our enthusiasm (primarily because we were pre-revenue)
  2. We grossly under-estimated the incremental cost of customer support. Many of our users have signed-up for CRM/Project/HRMS apps for the first time and need hand-holding.
  3. Our brief attempt at fund-raising and all the media hoopla around funding, valuation, unicorns, etc. turned out to be a huge distraction from what we initially set out to do: build a significant & sustainable business.
  4. Our most engaged users expressed concerns on several occasions about the viability of our “free” service. They expressed their willingness to “pay” for the service to ensure business continuity.
  5. We are aggressively rolling out new features but need to add more engineers to our team to expedite product development (including mobile apps). The only way for us to fund product development is via revenues.

We want to be laser-focused on innovating and helping our customers succeed. Charging for the service is the only sustainable model for our bootstrapped startup.

We’d like to apologize for not being able to keep the service free.

Our team will continue to work hard to build better features & functionality, so TeamWave can be the preferred software suite for small & medium businesses.

Please Note:

  • Starting today all accounts (with more than 1 user) will get a 14-day trial. At the completion of trial you will be asked to upgrade.
  • *Invoicing app is planned for release later this year.
  • If you have questions, concerns or would like to cancel your account, please write to support@teamwave.com

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