Country breakdown
| Country | Customers | % of total |
|---|---|---|
| India | 24 | 24% |
| Bangladesh | 15 | 15% |
| UK | 10 | 10% |
| Pakistan | 8 | 8% |
| UAE | 7 | 7% |
| Nigeria | 5 | 5% |
| Philippines | 4 | 4% |
| Other (24 countries) | 27 | 27% |
What surprised us
UK was higher than expected. We expected 5-6% UK. Got 10%. The hypothesis: UK founders shop hard on price, and our $297 vs doola's $1,997 lands well there.
Brazil was lower. Brazil has 50,000+ founders we expected to convert. We got 3 in the first 100. Lesson: we need Portuguese-language content. Working on it.
Bangladesh punched above its market size.We are partly based in Dhaka so this is partly self-selection, but 15% from Bangladesh was higher than the underlying market suggests.
Business type breakdown
- Freelance/agency: 38 customers (Upwork, Toptal, direct US clients)
- SaaS / indie hacker: 22 customers (Stripe-billed subscriptions)
- E-commerce: 18 customers (Shopify, Amazon, Etsy)
- Content creator: 12 customers (YouTube, Patreon, Substack)
- Other: 10 customers (real estate, day trading, consulting holding companies)
Prior LLC experience
- First-time LLC formation: 41 customers
- Switching from doola: 24 customers
- Switching from Firstbase: 9 customers
- Switching from Stripe Atlas: 5 customers
- Adding WyomingLLC as registered agent (existing solo-formed LLC): 21 customers
What we are doing with this data
Three concrete actions:
- Building Portuguese-language landing pages for Brazil (Q3 priority).
- Adding a "switch from doola/Firstbase" onboarding flow with credit for unused months.
- Tagging customers by business type for tailored email follow-ups (freelancers get different Mercury coaching than e-commerce).