The goal was to be able to cover costs in one year. Instead it took three weeks. It cost about $170/month to run Feedbin when it launched and with $1.62/user/month in profit after credit card fees it looked like I would need just over 100 customers who were also looking for a Google Reader alternative.
I signed up for Feedbin right around the time it launched and have been using it ever since. It offers exactly what I need — a service that stays out of my way, offers an API that my favorite iOS & Mac apps support and sync perfectly between everything.
Feedbin got everything right.