![]() An online retailer considering to roll out a new “buy now” button to its website could experiment with multiple versions of the button. This removes the need for companies to set up a dedicated analytics environment to process data from feature tests.įor firms that require particularly fine-grained insights, Statsig provides the ability to not only determine how an updated edition of a product compares with the original but also test multiple versions of the updated edition. Statsig’s service automatically measures how a new feature influences a particular business metric, such as the percentage of users who click on an ad or average purchase value, and the results are then visualized in graphs. One analytics task in particular that Statsig promises to simplify is processing A/B test results. In spite of the infinite cloud resources, prevailing analytics tools continue to inhibit the use of data for common product decisions that teams make every day.” “Unfortunately, organizations still spend a lot of time wrangling data to make sense of it. “Data is the incredible bridge bringing teams together to quickly respond to customers and to answer key business questions,” said Madrona Venture Group managing director S. The service provides that productivity boost by streamlining some of the more time-consuming aspects of the process. According to Statsig, what sets its service apart is that it enables software teams to run as many as ten times more tests than they can with other tools. There are already a number of tools on the market that enable developers to evaluate new features through A/B tests. The company then compares the user experience of the two groups to determine if the enhancement produced improvements. In an A/B test, a company makes a product enhancement available to a small subset of its customers while other users continue to access the original version of the product. Statsig evaluates the impact of new features by running so-called A/B tests. The company’s developers could create a new shopping feature to boost recurring purchases, then perform an assessment using Statsig’s service to determine if it will achieve the intended result. The startup has developed a service that enables enterprises to create different versions of an application component, for example the interface, and identify the version most popular among their users.Īn online retailer might use Statsig’s service to find ways of enhancing its e-commerce website. Statsig was launched about six months ago by a group of former Facebook Inc. Among Statsig’s backers are senior executives from Robinhood Markets Inc., DoorDash Inc., Instacart Inc. ![]() The investment also saw the participation of Madrona Venture Group, as well as a group of angel investors. It seems unlikely that they could meet anything close to that valuation.Statsig Inc., a new startup with a cloud service designed to help companies find ways of improving their software, on Thursday said that it has closed a $10.4 million funding round led by Sequoia Capital. ![]() Same with some of the smaller players who might buy a small company and let it operate independently. ![]() Merging with Airtable seems like a nice scenario if something has to happen, but also pretty unlikely. This is not really in Facebook's wheelhouse, and if they did buy it, it would only be for data mining the personal info there. I'm not sure Apple has much interest in maintaining cross platform web-based tools, and they'd likely want to stick it behind the iCloud wall.Īmazon doesn't really run consumer facing services like this, so I don't really see that happening. I don't think Salesforce has ruined Slack as of yet, and Notion seems like a potential compliment to Slack. If they're bought by Microsoft, the whole thing will likely be rewritten for Office 365 or integrated into OneNote and/or SharePoint and pretty much ruined.īeing bought by Salesforce might the best scenario, assuming it doesn't pivot to a business tool with a subscription that includes other tools. If they're bought by Google, the product will be dead from neglect within two years, and likely pulled off the market in three or four. I think Notion being purchased would be a disaster. ![]()
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