How a $1B company Canva started (2 steps)

Back in 2013 we invested all our money in acquiring users for our new app + we hit amazing viral growth. 2 years later we had only 10 active users. Why? Our retention rate was 0%. Retention is King if you want sustainable growth. You can get my new book "Retention is King: 77 studies" on Amazon for just 9.99 instantly. OR get it for free by helping 1 new friend to join our invitation-only community of over 27K growth hackers (from companies like Uber, Google, Microsoft, TechStars, Disney, etc.):

---

Canva was founded by a 19-year-old university student, Melanie Perkins.
10 years later Canva achieved 294,000 paying customers and $1 Billion valuation.

Here are the first hardest steps for Melanie:

1. She started from a tiny niche - an online design platform for the school yearbook market.
Her customers were schools and they were paying real money.
Within 5 years it became Australia's largest yearbook publisher, expanding to France and New Zealand.

2. After that, she decided to get back to her initial idea of Canva - to “democratize design”.
For 3 long years, she traveled back and forth from Australia to the US, pitching her idea to various investors.
After 3 years she managed to land her first investment and started creating the first lines of code for Canva.

Source: techcrunch.com


Cheers,
Charlie Patel ;)



Unsubscribe | GrowthHackingIdea / StartupGrowth.com | 1460 Broadway New York, NY 10036