A Product Market Fit Show | Startup Podcast for Founders Amplitude is now a $1.5B public company. Here's how they beat competitors with a 10x cheaper product. | Jeffrey Wang, Co-Founder of Amplitude
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Feb 20, 2025 Jeffrey Wang, Co-founder of Amplitude, shares his journey in analytics, turning a startup into a $1.5B public company. He reveals how Amplitude outsmarted competitors like Mixpanel by offering superior features at a fraction of the cost. Wang discusses the struggles of securing initial funding and the critical pivot from voice recognition to user insights. He emphasizes storytelling as a tool for attracting investors and the significance of maintaining control and high standards in building a successful company.
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Sonalite Pivot
- Amplitude's co-founders initially built a voice-to-text app called Sonalite.
- They pivoted to analytics after realizing the difficulty of perfecting voice recognition.
Consumer Product Tolerance
- In consumer products, user tolerance for errors is low, leading to a "zero-to-one" dynamic.
- If a product doesn't work perfectly, its perceived value drops significantly.
Shopify Analogy
- Shopify's origin story mirrors Amplitude's, starting as an internal tool before becoming a product.
- Both companies leveraged user interest in their internal tools to create successful businesses.