Mixpanel: a startup that helps Uber and Spotify see the future
The head of Mixpanel, Suhail Doshi, is sure: if you want to find an idea for your startup, read more science fiction. Look at Ilona Mask: he is planning an expedition to Mars and is building electric cars. All this you will find in the books. Today, Doshi himself is working on a fantastic idea - his project allows customers like Uber and Spotify to predict the future.
The company Mixpanel is engaged in data analytics, it was founded in 2009 and was funded by Y Combinator, Andreessen Horowitz and co-founder of PayPal Max Levchin.
“The surest forecast for the future is the past,” says Doshi.
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Mixpanel was initially working on how consumers use the websites and applications of its customers. Doshi says that we are talking about measuring engagement, while competitors are counting the pages viewed. Mixpanel keeps track of how many times a video has been shared from a specific page, how many people have closed the application before the end of registration, and the developer increases the number of sales, subscriptions, shares, and other actions with this information.
Tool Mixpanel Predict using machine learning algorithms uses the data obtained in the process of work in order to predict user behavior. Doshi says that the instrument begins to talk about the future thirty minutes after it is turned on.
One of the clients of the service is a website with recipes. The developers wanted to force users to save recipes in their accounts. The service helped to identify users who are more likely to click the “save” button, and developers have accelerated this process through emails and mobile notifications.
Mixpanel helped Spotify to guess which next song the user would turn on. So the music service was able to send successful notifications with songs.
At the beginning of 2014, twenty-seven people worked at Mixpanel, and now their number has reached two hundred and thirty. In 2013, the company coped with thirteen billion actions like playing songs or saving recipes per month, now their number has increased to fifty billion. The company has three and a half thousand customers who pay money, including American Express, NBC Universal, Uber. In addition, Mixpanel has tens of thousands of users of the free version.
The company has not yet made a profit, because all the funds raised to increase sales. At the same time, in 2014, the company made a million dollars a month - the same amount Mixpanel received in the first round of financing. And in October 2014, the company raised $ 65 million and was estimated at $ 865 million.
The company Mixpanel is engaged in data analytics, it was founded in 2009 and was funded by Y Combinator, Andreessen Horowitz and co-founder of PayPal Max Levchin.
“The surest forecast for the future is the past,” says Doshi.
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Predictions
Mixpanel was initially working on how consumers use the websites and applications of its customers. Doshi says that we are talking about measuring engagement, while competitors are counting the pages viewed. Mixpanel keeps track of how many times a video has been shared from a specific page, how many people have closed the application before the end of registration, and the developer increases the number of sales, subscriptions, shares, and other actions with this information.
Tool Mixpanel Predict using machine learning algorithms uses the data obtained in the process of work in order to predict user behavior. Doshi says that the instrument begins to talk about the future thirty minutes after it is turned on.
One of the clients of the service is a website with recipes. The developers wanted to force users to save recipes in their accounts. The service helped to identify users who are more likely to click the “save” button, and developers have accelerated this process through emails and mobile notifications.
Mixpanel helped Spotify to guess which next song the user would turn on. So the music service was able to send successful notifications with songs.
Growth and investment
At the beginning of 2014, twenty-seven people worked at Mixpanel, and now their number has reached two hundred and thirty. In 2013, the company coped with thirteen billion actions like playing songs or saving recipes per month, now their number has increased to fifty billion. The company has three and a half thousand customers who pay money, including American Express, NBC Universal, Uber. In addition, Mixpanel has tens of thousands of users of the free version.
The company has not yet made a profit, because all the funds raised to increase sales. At the same time, in 2014, the company made a million dollars a month - the same amount Mixpanel received in the first round of financing. And in October 2014, the company raised $ 65 million and was estimated at $ 865 million.
Source: https://habr.com/ru/post/296446/
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