Dear Reader,
Welcome to the 59th edition of the good reads newsletter by Malpani Ventures. Sharing your weekly dose of articles for this weekend’s reading!
Labelbox's Path to PMF: Founders Need to be Contrarian and Right — Here's How
Labelbox has emerged as a leader in the burgeoning industry of data labeling. Some takeaways:
There are two things that I firmly believe about getting past the validation phase:
1. You have to have a wildly crazy idea before it becomes a breakthrough.
2. Your idea has to be both contrarian and right for it to find success.
How to test pricing?
By collecting early feedback, they were able to finetune exactly what features in their product they could put behind a paywall, and gauge just how much interest there would be to pay for something like Labelbox.
The team would build out new features (mainly at the request of their companies), promote them to their mailing list of existing customers, and follow up with additional outreach to the rest of the inbound requests in the pipeline.
5 Interesting Learnings from HubSpot at $2 Billion in ARR
Some learnings and stats from an exceptional company:
HubSpot has now passed a stunning $2 Billion in ARR, growing 30% in constant currency.
40% of Their Revenues Comes from Partners.
45% of Customers Now Use 3 or More HubSpot Products. A reminder of just how important being multi-product is at scale.
AI Canon
https://a16z.com/2023/05/25/ai-canon/
a16z shared a curated list of resources for everyone to get smarter about modern AI.
Until next time!