The beginning of an industry
Over the past few months, we’ve posted several excerpts on the blog from a big project we’ve been working on: a comprehensive playbook for using analytics data to improve user retention. Putting together the playbook has a been a huge undertaking from many people at Amplitude. I don’t think we knew what we were signing up for when we started. After thousands of hours of work, hundreds of analyses, and working with dozens of our customers, we’re excited to finally share it with you.
Today we’re releasing the Product Analytics Playbook, Volume 1: Mastering Retention. Volume 1 is a comprehensive approach to retention across all stages of the user lifecycle. It covers how to build retention into your product. It also covers how to leverage user behavior data to identify opportunities to improve your product. Understanding and improving retention is core to long term product success and the cornerstone of using product analytics to build better products.
We’re thrilled to announce that Amplitude co-founders Spenser Skates and Curtis Liu are included in the 2017 class of Forbes 30 Under 30: Enterprise Tech.
Spenser Skates (left) and Curtis Liu (right)
Last week, we announced Amplitude 2.0 — the next generation of our product analytics platform. Today, I’m sharing the story behind 2.0: the industry shift in how companies are building products, how our users shaped the way we rebuilt Amplitude, and our vision for the future of products.
Back in March of 1995, Microsoft released a product called Microsoft Bob. Designed with computer novices in mind, Bob was supposed to make it easier for the average person to use a PC. The interface was styled as a virtual home where you navigated between rooms to access different programs, all with the aid of an animated dog as your guide (whose later reincarnation showed up in Microsoft Office as our old friend, Clippy).
Not really sure where the “Door to Public Mouse Hole” leads… Image source.
If you’re in the mobile app business, you’ve probably heard this statistic — that 80% of mobile app users churn after just 3 days, and that the average app loses all of their new users within a month.
Today, we’re announcing that these retention findings may, in fact, be inaccurate for the vast majority of apps in the industry. Amplitude has now tracked over 1 trillion user actions across 500 million devices. After analyzing our customer data, we’ve discovered the standard industry method of calculating retention grossly underestimates retention numbers, suggesting that the future of apps isn’t as grim as it was made out to be. Now, we want to share these insights with you.
Yesterday, Amplitude was recognized as a Rising Star in the category of analytics in the cloud sector, as part of The Forbes 2016 Cloud 100.
The first-ever Forbes 2016 Cloud 100 profiles the world’s top-tier private companies leading the cloud technology revolution.
In addition, one Rising Star company was chosen as a category stand-out in each of the twenty categories, including analytics; these companies are recognized as the most innovative and promising young companies of their respective categories. The Rising Stars were selected by a panel of judges representing leading public cloud companies, using qualitative and quantitative data submitted by nominees, along with publicly available third-party data sources.
Says Byron Deeter, a leading cloud investor and partner at Bessemer Venture Partners:
“Cloud computing is understood to be the future of the trillion-dollar software industry.” The Forbes Cloud 100: Rising Stars represent some of the most promising up-and-comers in each of their respective categories. As the cloud continues to revolutionize business, category-by-category, we are excited to highlight the potential of these Rising Stars.”
To view the full list, visit www.forbes.com/cloud100. The list will also appear in the October 4, 2016 issue of Forbes magazine.
You deserve better analytics to grow your product and bring value to your users. Plain and simple.
For us, that means bringing you the best-in-class web and mobile behavioral analytics platform so you can understand your users both today and well into the future. It means bringing you powerful, point-and-click analytics that lets you perform queries that would’ve once required teams of data scientists. It means bringing you behavioral analytics that gives your whole company insight into how your users navigate your product.
“We chose Amplitude because it has a fantastic look and feel and we’ve found it to have better out-of-the-box analytics capabilities than its competitors. I love that I’m able to dive right into Amplitude to better understand our products’ user behavior – I can even give access to folks without an analyst background so they can quickly spin up some segmentation charts and dashboards to share with their teams. It is truly a versatile and powerful platform.”
— Mike Murray, LogMeIn.
To continue building our platform in new and advanced ways, I’m excited to publicly announce that we’ve closed $15M in Series B funding, led by Battery Ventures. We’re adding Neeraj Agrawal to Amplitude’s board of directors, who will help us grow the team and advance the product so we continue to be the best-in-class behavioral analytics platform for you. You can read the full press release here.
We also have several other exciting updates that will help you understand user behavior at a deeper, more sophisticated level, including a new tool called Pathfinder, a brand-new backend architecture, as well as a Retention Playbook in the works.
I want to take a moment to personally thank you, our current customers, for choosing Amplitude as your source of behavioral analytics.
Since raising our Series A just nine months ago, we’ve faced phenomenal growth.
- We’ve gone from tracking 25 billion to 60+ billion events per month
- We have 150+ enterprise customers, including Instacart, Square, LogMeIn, and Thumbtack