Product analytics company Amplitude launches program to help startups find product market fit
The technology has leveled the playing field by making it economical for smaller startups to compete with bigger companies and offer innovative products at cheaper price. The technology also lowers the barrier to entry which means we now have many startups now have to compete the in the marketplace. One of the biggest challenges facing startups today is finding the perfect product market fit. The era of “build it and they will come” has come and gone. Some startup founders made a mistake of first launching their products before finding the product market fit. Some also lack adequate analytics tools required to make informed decisions about their products and customer engagement. Some later learned the hard way that the era of “if you build it and they will come,” is long gone.
Now one company wants to help seed-stage startups in this area. Amplitude is San Francisco, California-based product analytics company. Amplitude provides product analytics to help companies understand user behavior. Product, marketing, and growth teams use Amplitude to discover and share insights about user engagement, retention, and revenue. Today, the company announced a new program that offers seed-stage startups a substantial scholarship for the its advanced product analytics platform. Using this platform, startups can better understand what features and user actions drive important metrics such as engagement and retention.
“All companies need powerful analytics tools to innovate quickly and build products people love. This is especially true for smaller companies that are trying to make it to the next stage,” said Amplitude co-founder and CEO Spenser Skates. “When I founded my first startup, there was no existing product analytics tool that could help me to understand user behavior in my app. That’s why I founded Amplitude. While we’ve recently focused on serving product analytics needs at large enterprises, we wanted to give more back to the startup community.”
Today’s most successful companies revolve around product, and product teams need to understand user behavior in order to improve the user experience, grow their customer base and drive business results. This is especially important for startups focused on getting customers to that “A-ha” moment where they fall in love with the product. Built by product enthusiasts for product teams at companies of all sizes, including innovative startups like Bonobos and Blue Apron and established enterprises like Microsoft and Adidas, Amplitude provides unprecedented insight into how customers are using digital products.
“I’ve tried every event-based analytics service I could get my hands on,” said Andrew Mason, Founder of Groupon and serial entrepreneur. “Amplitude is the best – the most powerful and the easiest to use, and they’re constantly coming out with new, super useful features and improvements. With this pricing option, I think Amplitude belongs in the essential toolkit for every new startup.”
Many businesses have used Amplitude as they’ve built and scaled their products. LetGo, one of the most popular shopping apps in the iOS app store, has relied on Amplitude since its early days. “Amplitude will help your business grow from day one. It makes life easier for every team, from product to marketing, and anyone can start running their own analysis in minutes,” said Iago Novoa, Head of Business Intelligence at Letgo. With 75 million downloads and hundreds of millions of listings, it’s one of the largest and fastest-growing apps to buy and sell locally.
Amplitude was founded in 2012 by Curtis Liu and Spenser Skates. The company is and backed by Benchmark, Battery Ventures, and leading angel investors, Amplitude is the analytics solution of choice for companies who want to understand their users, including Microsoft, Square, Western Union, HubSpot, LogMeIn, Paypal, POPSUGAR, and more.