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Canva raises at $40B, Mailchimp acquired for $12B, Grammarly's SDK launch, and more...
👋 Hey, Ruchin here! Welcome to this week’s edition of the ✨Top of the Lyne✨ newsletter. Each week we publish the hottest news from the beautiful world of product-led growth! (PLG)
The outcome we're shooting for is simple... to get enough folks excited about the product-led world that we so dearly love ❤️
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Into the Twitterverse 🐦🌌
With great power comes great responsibility! 🦸🏻♀️
As Canva announced its $40B valuation round, what truly grabbed headlines (and warmed our ❤️s) was the company’s reiterated focus on doing the most good they can! Inspiring vision and mission from a company that couldn’t deserve it more 🇦🇺
How going freemium saved Mailchimp from certain 💀
In an era when PLG was just three random alphabets strung together, Mailchimp made a big bet to give away email software for FREE. Profit grew by 650% that year‼️ The biz started adding 30k users every month. And by Sept 2010, they had grown to 450k users and just over $2MM ARR.
There isn’t a day when the power of product-led growth doesn’t surprise and fascinate us 😌
Calendly’s insane sales efficiency! 🤯
This tweet beautifully summarized their org chart and how lean the sales function is. Calendly took just 10 salespeople to reach $100M ARR! 😱
3 salespeople to reach $30M ARR, 7 to reach $70M, and 10 to reach $100M 🚀 Wondering how they did it?👇🏻👇🏻
Growth Stories 🚀
Every time a new tech role is born so is a Salesforce-like behemoth! 🚀
Inbound marketers → Hubspot
Product designers → Figma
API developers → Postman
And, Productboard is that platform for Product Management! Here’s how they’ll get there 👇🏻
Fundraising, Venture Capital and Exits 🤑
Canva raises $200 million at a $40 billion valuation making it one of the most valuable private companies on the planet! 🌏
Intuit is acquiring email marketing company Mailchimp for $12 billion in cash and stock 💰
Xendit secures $150 million Series C to build out digital payment infrastructure across Southeast Asia. 🇮🇩
Launches, events, and releases 🆕
Grammarly SDK beta lets developers embed automated text editing in any web app 🛠️ 💻
Calendso is now Cal.com! What started as an open-source side project has now grown to serve hundreds of companies and thousands of customers every day. 📆
Front introduces customer-centric features with deeper CRM integration.We’re LIVE! 🚨 CEO is sharing her vision for the future of 💬 It's not too late to join in: front.com/next-frontier-…
Nerding out on PLG 🤓📚
PLG is not a one-size-fits-all approach — some tactics will be more effective than others depending on your product and market, and your strategy will need to shift as you grow.
Find out how Accel defines ways to build strong and sustainable PLG foundations👇Product-led growth is not a one-size-fits-all approach, but there are similar strategies you’ll find among successful startups. We're sharing five here 👀⬇️ accel.com/noteworthy/wha…
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Thanks again, and please tell a few friends if you feel like it.