The $1.2M revenue number looks completely made up by the article submitter. The article makes no mention of this or any other specific monthly revenue number.
I would expect a service like this to have very high churn as people export a list and leave, so the actual recurring revenue is likely much, much lower.
I would expect a service like this to have very high churn as people export a list and leave, so the actual recurring revenue is likely much, much lower.