Building heavier companies 🏋🏻‍♀️

Doubling market share for dummies 🥸, the return of the prodigal son, a framework for your first Growth hire 🙌🏼 and Jeff Bezos' two cents on navigating a recession 🤸🏼‍♀️

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Into the Twitterverse 🐦🌌

• Doubling market share… for dummies 🥸

An incredible thread from Megan Kao on how Doordash went from losing $1 on each order 🔥 to increasing contribution margin to 20% and doubling market share 👀

How did they get there? Relentless execution spanning several quarters, but here’s the TLDR:

• Launching more businesses: DoorDash launched 6. Each serves a different need - Marketplace, DashPass, Drive (white-label delivery), Storefront, DoorDash for Work, and DashMart.

  • Improving margins by bundling items from nearby stores, striking deals with top franchises, launching new verticals (Retail, Grocery, Alcohol), batching driver routes, Catering to corporates

  • By not pretending it’s a 9-5 job: Relentless execution was the name of the game. Recalibrate ASAP when things don’t go as planned. Failing fast, testing, learning & iterating.

Megan Kao @megankao_

$DASH announces Q2 earnings this week. I spent 2 years at DoorDash in Ops, helping scale market share from 30% to 60% Here’s what it took to win, and what other Marketplaces can learn 🧵

• The prodigal son returns 😳

Calling all Growth enthusiasts 📣 Subscribe to andrewchen.com today for content that straight up SLAPS 🔥

Andrew Chen 🎮 @andrewchen

I have some personal updates. Moving to LA, a new role at a16z, and more! Here's the post: andrewchen.com/personal-updat… My blog is officially back! I’m excited to restart my writing here, after a long hiatus.

andrewchen.comPersonal updates: Moving to LA, a new role at a16z, and more! at andrewchen

• Build heavier companies 🏋🏻‍♀️

  An insightful word of advice about navigating recessions from a young Jeff Bezos…

“Clearly there was a lot of voting going on in the boom year of ’99—and much less weighing. We’re a company that wants to be weighed, and over time, we will be—over the long term, all companies are. In the meantime, we have our heads down working to build a heavier and heavier company.” - Jeff Bezos, circa 2000 💾

Jon Erlichman @JonErlichman

Amazon’s stock fell 80% in 2000. Here’s what Jeff Bezos told investors:

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🔎 The PLG hunt

Make way for Eppo 🥁

Giving Statsig some tough competition, we’ve got a relatively new entrant emerging from stealth, with a whopping $16 million in Series A! 🙌🏼

Built by former Data Scientists at AirBnB and Webflow, Eppo is making complex experimentation infrastructure available to companies and product teams of all sizes.

TechCrunch @TechCrunch

Eppo, a product experimentation platform, raises $19.5M for expansion tcrn.ch/3b8fNek by @Kyle_L_Wiggers

tcrn.chEppo, a product experimentation platform, raises $19.5M for expansion – TechCrunchEppo, a company developing experimentation infrastructure for testing products, has raised $19.5 million in a venture funding round.

Which hot and upcoming PLG company are you most excited about? 👇🏻

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Growth Stories 🚀

Statsig: A/Bsolutely winning

A cult favorite across product teams at Headspace, Whatnot, and Notion, Stastig is democratizing access to world-class A/B testing infrastructure; the secret sauce that helped Facebook grow to more than 2Bn users💥

An absolute must-read. Check it out.

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Fundraising, Venture Capital, and Exits 🤑

• Sprig finds its wing 💸
  

  Sprig makes user and product research fast and effortless by gauging customer reactions in real-time.

  Sprig @Sprig

  @TechCrunch broke the news! Meet Sprig Concept & Usability testing to easily test ideas, designs, & prototypes before building We’re also proud to share that we raised $30M in new funding by @a16z @Accel @firstround @eladgil @figmaventures Read more here

  

  tcrn.chSprig raises $30M to help companies gauge users’ reactions to products – TechCrunchSprig, a startup developing tools to help companies research how users feel about their products and services, has raised $30 million in a venture funding round.

• Retool’s $45M “unconventional” Series C2 🤸🏼‍♀️
  
  Would you check out that announcement? 😍
  
  Loved by engineering teams at Mercedes-Benz, to media giant, NBC and tech giant, Amazon; this “new way of building software” definitely is eating the world, one industry giant at a time.
  

Retool @retool

Last year, we raised an unconventional Series C to maximize employee outcomes (over valuation). Today, we’re continuing the approach: we raised $45M for our Series C2 at a $3.2B valuation.

retool.comRetool’s Series C2 fundraiseWe’re excited to share that we’ve raised $45M at a $3.2B valuation. Our Series C2 is a continuation of our unconventional approach to fundraising—instead of raising the maximum amount at the highest valuation, we raise small rounds at lower valuations, which minimizes dilution and preserves upside

• Datadog bites Seekret 🦮

  Datadog acquires Seekret, a highly innovative API observability company to enhance deeper governance capabilities. 🤝

  Breaking News @MarketCurrents

  $DDOG - Datadog acquires Seekret for making API observability accessible

  

  seekingalpha.comDatadog acquires Seekret for making API observability accessibleDatadog (DDOG) acquired Seekret, a highly innovative API observability company for extending its unified platform to deliver deeper API observability, governance and automation across...

• A big Deel indeed 💥

  Deel acquires Legalpad to further their mission to unlock the power of a truly, global workforce. 🌎

  Alex Bouaziz @Bouazizalex

  Excited to welcome the @LegalpadIO team to @deel 🙌 🎉 This will make connecting employers to global talent easier than ever. Together we can break down immigration hiring barriers to get more people working for the best companies in the world 🌍deel.com/blog/legalpad-…

  

  deel.comWe’re acquiring Legalpad to break down immigration barriers to global hiringWe’re thrilled to announce our acquisition of Legalpad, a company dedicated to simplifying the work-visa process for founders, companies, and their workforce.

Launches, events, and releases

• Managing an online community is now super hard easy ft. Threado 🚀

  
  A pioneer in the community-ops category, Threado helps you unlock the 100x power of community by helping you build, activate members, and automate workflows.

Pramod Rao @prao24

🚨 Launch Alert 🚨 We are stoked to announce @ThreadoHQ is LIVE now on @ProductHunt 🚀

Nerding out on PLG 🤓📚

You never forget your first…

Growth hire. (what did you think, ha?)

Adam Fishman in his latest two-part series demystifies the age-old question of “When to bring in your first growth hire?”

Does your company need a Painter, an Architect, or a Surgeon? Let Adam answer this one for you!

You don’t want to miss this one. 🤯 Check it out here.

Blazing Hot Meme Zone ⚡️

Just out here, spitting facts 💦

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