12/11/2023 0 Comments Notion valuation![]() ![]() Sequoia partner Mike Vernal worked at Facebook prior to joining the venture capital firm and had worked with Raji, calling him “a top 1% engineer” that he was happy to work with. In addition, the company has automated analysis where other products require manual set up and analysis. ![]() ![]() There are plenty of competitors for this product, including incumbents in the market, according to Raji, but they mostly focus on features, while Statsig provides insights and ties metrics back to features. Now the company is talking to bigger customers. In fact, the adoption the company is getting is “bottom up,” which is what Statsig wants, he said. Raji sees adoption of Statsig coming from a few different places: developers and engineers that are downloading it and using it to serve a few million people a month, and then through referrals. The company will always offer a free tier so customers can try out features, but also offers a Pro tier for 5 cents per thousand events so that when the customer grows, so does Statsig. Statsig has no subscription or upfront fees and is already serving millions of end-users every month for customers like Clutter, Common Room and Take App. “We already have a set of customers asking for features, and that is a good problem, but now we want to scale and build them out,” he added. The team is already up to 14 since February. Raji intends to use the new funding to hire folks in the area of design, product, data science, sales and marketing. Tools like Pulse, Experiments+ and AutoTune allow for hundreds of experiments every week, while business metrics guide product teams to build and ship the right products to their customers. Statsig’s platform enables product developers to run quick product experiments and analyze how users respond to new features and functionalities. ![]() The Statsig team saw an opportunity to rebuild these features from scratch outside of Facebook so that other companies that have products to build - but no time to build their own quick testing capabilities - can be just as successful. He told TechCrunch that while working at Facebook, A/B testing applications, like Gatekeeper, Quick Experiments and Deltoid, were successfully built internally. The Seattle-based company on Thursday announced $10.4 million in Series A funding, led by Sequoia Capital, with participation from Madrona Venture Group and a group of individual investors, including Robinhood CPO Aparna Chennapragada, Segment co-founder Calvin French-Owen, Figma CEO Dylan Field, Instacart CEO Fidji Simo, DoorDash exec Gokul Rajaram, CEO Hadi Partovi and a16z general partner Sriram Krishnan.įounder and CEO Vijaye Raji started the company with seven other former Facebook colleagues in February, but the idea for the company started more than a year ago. We can also expect to see some new hires to bolster its current offerings with new features.Statsig is taking the A/B testing applications that drive Facebook’s growth and putting similar functionalities into the hands of any product team so that they, too, can make faster, data-informed decisions on building products customers want. With around $325 million in the bank, it’s safe to assume more acquisitions are on the way, as Notion continues to invest on improving its platform. Notion users can use Automate to connect their Workspace to Slack, Gmail, Salesforce, Microsoft Office 365, Dropbox, QuickBooks and a host of other services, setting up all sorts of relationships and automations to pass information between services. This news comes a month after Notion acquired Automate.io, an startup that connects Notion to more than 200 services, to accelerate adoption of the Notion API across its user base, offering them a convenient way to connect their Workspace to other tools. The startup has raised $275 million in a new funding round led by Coatue Management and Sequoia, with participation from Base10 Partners, reports Forbes, and it still has most of the $50 million it raised in 2020, so it’s well positioned to scale. Notion is now worth an estimated $10 billion, up from its last valuation of $2 billion in April 2020 after seeing its active users surge from 4 million to 20 million as people transitioned to remote work during the outbreak of the COVID-19 virus. ![]()
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