Marc Andreessen is famous, among many other things, for having a keen eye for product/market fit. His definition of this Saint Graal in Startupland remains the best one yet.
This quote, which is undoubtedly more colorful, gives a more vivid image of what product/market fit looks like. Talking about Mixpanel, a data analytics platform whose $10 million series A had been led by Andreessen Horowitz (a16z), Andreessen reportedly said:
“The dogs are fucking jumping through the screen door to eat the dog food. And he hasn’t done any marketing yet. And he’s profitable!”
That’s the kind of traction VCs are looking for in startup they consider to invest in. When clients are showing up and buying your products without any marketing effort on your part, it means you’ve hit a gold vein.
Many companies will work on their product, offer, pricing, distribution channels, positioning, and communication for years before they achieve product/market fit. Most never get there.
When they do, they hit the jackpot.
In 2014, a16z not only led but took the whole Series B of Mixpanel, investing another $65 million in the company.
What are other signs of product/market fit that you experienced? What is the best way to get there, in your view?
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🔗 Read the full article on Andreessen in the New Yorker here