In 2001, Haroon Mokhtarzada and his brothers started Webs.com, which allowed anyone to build a professional website. Eager to grow the company, they decided to raise money from a venture capital firm – a decision Mokhtarzada would later regret.
They ultimately grew Webs.com to over 50 million users and sold it in 2011 to Vistaprint for over 10 x revenue, totaling $117.5 million.
Hungry to start another company and learn from their mistakes in raising money for Webs.com, Haroon and his brothers began Truebill in 2015. The business was created to help people save money by managing their subscriptions from one platform.
Truebill snowballed, reaching $100 million in Annual Recurring Revenue (ARR) in just seven years. In 2022, Truebill was acquired by Rocket Companies – again, for over 10 x revenue, totaling $1.275 billion.