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Understanding Data Businesses | Auren Hoffman
Dec 12, 2023
Auren Hoffman, CEO of SafeGraph, discusses building data businesses, selling horizontal data, second party data sharing, challenges & potential for social recommendations, improving the user experience of LinkedIn, building a reputation database, and software businesses masquerading as services businesses.
57:51
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Quick takeaways
- The limited number of buyers for raw data highlights the preference for ready-made solutions in the data business.
- Dominant businesses with a majority market share benefit from declining customer acquisition costs, unlike most B2B software companies.
Deep dives
The challenges of growing a data business
The speaker reflects on the initial expectations of exponential growth for data buyers but realizes that there are still very few companies capable of buying raw data. The limited number of buyers could be attributed to the lack of demand or interest in purchasing raw data as opposed to finished products. The analogy of selling world-class butter to a limited number of chefs highlights the scarcity of buyers and the preference for ready-made solutions.
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