November 15, 2018
Ep. #16, Building and Leveraging Product Marketplaces
In episode 16 of Practical Product, Craig and Rimas are joined by Connie Kwan to walk through the process of buying and selling products on ...
Before LaunchDarkly, Edith Harbaugh managed product at Tripit, PlantSense, and Monster. Prior to that, she was an Engineering Manager at Vignette and Epicentric, with patents on deployment. Her LaunchDarkly cofounder John Kodumal spent years managing engineering and software development at Atlassian and for the Atlassian Marketplace. Throughout their careers, the two Harvey Mudd College alumni saw a shift from companies deploying multi-year releases to continuous delivery releases (multiple times a day).
Raised Series A led by DFJ
Feature Flags Served Per Day
Gartner DevOps Cool Vendor
Team Growth, from 4 to 20+
As was the trend with other tech companies like Google, Facebook and Twitter, their respective companies had built custom feature flagging infrastructure in-house. Edith and John realized the opportunity to provide this same granular control as a cloud service, and in 2014, started LaunchDarkly, a feature management platform that helps companies like CircleCI, AppDirect and InVision eliminate risk from the software development and release cycle.
Says Harbaugh, “If you’re looking for advice while running an early-stage startup, you generally need more than a single advisor. The ideal is having a network of people with relevant domain expertise and current knowledge of how the industry works. This is tough because the industry for developer companies changes very quickly.”
Since joining Heavybit, LaunchDarkly’s team received more than one hundred advisory hours from SaaS and developer-focused advisors through 1:1 office hours, Speaker Series, workshops and special events.
The advisors at Heavybit were amazing for perspective and encouragement.
“In fact, we ended up getting help with things we didn’t even know we needed help with. I thought we were going to be a bottoms-up sale. Turns out, we’re much more of a fit to enterprise sales. Heavybit also had advisors who could help specifically with that.”
Some advisors that helped LaunchDarkly think through product-market fit include Harrison Metal’s Michael Dearing, who advised on funnel management, Acompli’s Javier Soltero of who helps refine LaunchDarkly’s go-to-market strategy, and StackOverflow and Discourse’s Jeff Atwood on effective business models.
Developer tool companies have a unique and tough path to market. It’s really nice to have access to founders that are facing your same challenges, and who you can ask for advice and then help others in return.
By moving into Heavybit’s SoMa Clubhouse, Harbaugh and the LaunchDarkly team got a chance to work alongside companies fellow developer companies like OverOps, RainforestQA and Apiary. One clubhouse resident, Heavybit advisor and former Heroku CEO, Oren Teich, happened to sit near LaunchDarkly and offered Edith regular advice during her tenure in the space.
Says Harbaugh, “While designing our early pricing model, Oren encouraged us to charge more. He warned me that most technical founders charged too little, and challenged me to charge more if I was proud of our product and the value we offer.”
“One thing people might not know about Heavybit is that they help establish visibility and public awareness with the right developer audiences”, says Harbaugh.
From practicing my public speaking, to getting articles published, to starting a podcast; Heavybit gave me a platform and the confidence to do it.
“For example, they made the podcast painless, they built state of the art studios and offered a post production team to manage everything for us. I just had to show-up.”
Edith knew as the company’s CEO that it was up to her to create more visibility for her product and team. Throughout the program she took every opportunity she was offered to increase visibility and receive feedback — presenting on the Heavybit’s stage, guest writing and publishing to major technology press outlets, and cohosting different events and podcasts.
To date she cohosts one of the network’s most popular podcasts To Be Continuous, has spoken on stage at Collision, Microsoft Build and WebSummit, and is a regular contributor to publications like ReadWrite and InfoQ.
Heavybit has a great reputation. Our acceptance into the program automatically put us on investors’ radars. But it’s their help with visibility and fundraising, that also helped us raise our Series A.
Our program is the only one of its kind to focus solely on taking developer products to market.
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