Latest posts by Florin Muresan (see all)
- Website Auditor’s description on AppSumo - November 28, 2017
- Story of how Twilio grew into a huge company - November 27, 2017
- Learn from customers who don’t want to work with you / use your product - September 29, 2017
How these 3 growth hacking frameworks helped me build loyal community and 21x my sales (step by step). This is a name of the master-class I speak on various offline events. People say – for a very long time they haven’t attended such a valuable master-class. Want me to speak in your city? Just hit “Reply” and let me know. And now let’s get back to the today’s growth hack.
In 2007, Jeff Lawson and 2 other guys founded Twilio.
They wanted to provide voice APIs, like to a dozen of other odd startups in this space.
Investors said it won‘t fly: wrong product, wrong audience.
Today their company is worth $2.94 Billion.
What steps did they take to achieve $2.94 Billion?
In 2008, they launch their product right after the 2008 financial crisis had hit.
Nobody knew them and nobody trusted them. So the first app, RickRoll – based on their API, they create by themselves.
This app gets major press coverage and Twilio is noticed by investor Dave McClure.
In 2009, they raise $4.7M.
Unlike other startups in this space, they hyper-focused on developers, providing a simple way to add voice calls in their businesses.
They were growing a community of developers. Here‘s how:
1. They hire a traveling team of developer evangelists.
2. Sponsor hackathons.
3. Publish world-class documentation on the website.
4. Offer in-depth coding tutorials on the blog.
In 2010, they allow web app developers to add SMS-based functionality to their web apps.
In May 2010, at the TechCrunch Disrupt hackathon, GroupMe app uses Twilio‘s text messaging product to facilitate group chat. Eventually, GroupMe is acquired by Skype for $85 million.
The success of GroupMe was the inspirational story that helped cement Twilio’s story in the app ecosystem.
In 2010, 500 Startups earmarks $250,000 for a Twilio Micro Fund, which invests in startups using Twilio.
In November 2010, they raise $12M.
In March 2011, AppSumo creates a discounted bundle of SaaS products that includes credit for using Twilio.
In July 2011, They offer developers the option to use all IP communications as well as traditional phone and mobile networks.
In October 2011, when Uber is still a tiny company, they join Twilio. Fast forward 5 years – they will pay over $30M/year to Twilio.
In December 2011, Twilio raises $17M (Series C) to expand the communications platform worldwide.
In February 2012, Twilio lets iOS app makers add VoIP as a feature.
In July 2012, they activate global SMS service.
In December 2013, SendGrid announces tie-ins to the popular Twilio APIs that enable SMS text and voice integration in mobile apps.
In June 2013, Twilio raises a $70 million Series D.
After that, they started to acquire other startups.
In 2016, IPO – They raise $150 million at a $1.2 billion valuation.
In 2017, their company is worth $2.94B.
Interesting fact: they only have 4% annual churn in their customer base.
P.S. If you want to 100x your revenue/conversions/traffic/