See “PayPal” party members how to help entrepreneurs to build a $865 million valuation 26-year-old startups

hunting cloud network (note: if a PayPal “Mafia” members do your bole, your startup will from now on is not the same? Is such a you can’t even think about what happens to the 26-year-old Doshi, meet Max in Slide, after a tortuous experience, his Mixpanel under the help of bole 865 million valuation. Envy envy hate together.

get noble appreciation

eBay bought for $1.5 billion in 2002 to PayPal. And in a gang of powerful PayPal gives birth to the silicon valley, expensive, they are called PayPal “Mafia”. For many people, can work with Paypal “Mafia” is to want to all dare not think.

but some people are just so good luck. Such as 26-year-old Mixpanel’s CEO Shuhail Doshi. To work with PayPal “Mafia” let him from civilian boss name is become “Grosvenor LTD shuai” worth $835 million.
In the spring of 2008, Suhail Doshi from IRC (a popular chat between hackers and computer engineer BBS) on accident received a message: “to Slide practice.”
Slide is by PayPal before the CTO (chief technology officer) Max Levchin set up the production of small accessories application startup. When the Slide is a rising star in the start-up, worth about $500 million (later acquired by Google). Doshi is a self-taught programmer in Arizona State University computer systems engineering professional learning. So, for him, it is absolutely No way for this internship offer said “No”.
In the Slide, Doshi has not been assigned to do any specific project, has been busy for a variety of independent idea. But, he very enjoy my work in the Slide, then often work until midnight.
Slide the CEO Levchin soon fell in love with the diligent Doshi. The strength of the Levchin like that. Every day, Levchin would sit beside him, listening to his all sorts of new ideas and thoughts. Doshi in an interview, said: “I don’t know why he do that, but so my relationship with Max at work is getting better and better.”
Levchin very like Doshi, so three months after the end of the internship, he offered to let Doshi drop out of school to be his full-time employees. He called Doshi mother work even tried to persuade her to agree to Doshi dropping out of school. But it is not easy. Doshi finally returned to the campus in late summer.

startup itch
Doshi, although the body back to campus, but heart had to fly back to silicon valley. He said: “I feel like I’m in the startup’s poison, think about every day, very afflictive.”
He tried many different things, he is still working on a final work in Slide when produce idea: to establish a powerful help App to track and learn the user’s analysis software. Although like Google Analytics software already exists, but Doshi found Slide still spend more than $1 million to build their own internal analysis software.
Doshi says: “in the Slide, people tried frantically to measure everything. As if all people do everything be quantified.”
Mixpanel do thing is “quantitative”! It measured the number of “participation” is more specific details, such as when Facebook users will point “like”, or when users will use the “filter” on them, instead of the traditional comprehensive traffic or installation data. He thinks like a comprehensive traffic or unique visitors are not a good measure of the true value of a product.
Doshi will make the first prototype sent Levchin, but the feedback is quite a blow to him. Levchin told him: “Slide will software to make it yourself!”
But Doshi did not give up. He soon found a partner in math class, Tim Trefren. They became good friends, there are 16 hours a day together, and in the computer lab meeting every Friday night, discussion, practice and research the Mixpanel constantly.
Doshi says: “product iteration is really too fast, we constantly modify and improve every day.”
Efforts finally paid off. In the summer of 2009, they finally worked out a modified product. This product has attracted the attention of Y Combinator, and received $15000 in seed money. A few months later, even Levchin into: in Doshi Levchin Slide less than ten months after blow, Slide became Mixpanel’s first big customer.

he was like, like “father” in the history of commercial
YC investment of $15000 does not hold for a long time. Although Doshi and Trefren didn’t how much: they rented a small apartment is only a piece of bed, all the clothes are fit, a box miscellaneous expenses budget is $200 per month, but finally they still on the verge of bankruptcy.
At that time, investors attitude for commercial software tepid. The economic downturn, gloom.
Doshi says: “YC investment projects in 2009, half have already walked to the wall. But today, 90% of YC incubation projects have been financing.”

however, Levchin Mixpanel in the use of a few months later, saw the potential of this software, seed decided to invest $500000 in 2010 (and Bebo founder Michael Birch) together. Doshi recalls: “if Max and Michael was not investing in that 500000, Mixpanel ceases to exist.”
Levchin also do in the after several rounds of investment. In 2011, Mixpanel struggling to search for A round of investors, Levchin struck A deal with Sequoia, investment $1.25 million as A “transition”, is at the same time, another PayPal Mafia Keith Rabois also joined in.
A year later, Levchin help again, contact the vc Andreessen Horowitz, finally achieved A round of investment of $10.25 million. Andreessen Horowitz also in December led invested us $65 million B round of investment, then to Mixpanel valuation for 865 million.
“Max at every stage of investment for the development of the company give us a helping hand”, Doshi says, “I really don’t know if without him we can not go today”.
Mixpanel is now one of the fastest growing analysis class App. Mixpanel has 3000 paid trial users, more than 43 billion data points are analyzed, including the click on the slide, screen and typing (Mixpanel these are known as “action”). Now it is the analysis of the center of gravity is more mobile data, but also to explore how to do forecast analysis.
Of course, is also very competitive. Google Analytics, Omniture and KISSmetrics and Mixpanel fight for market share. But even so, Doshi without fear. When asked about these competitors, Doshi cited Levchin in the most began to hit his words.
“Our competitors are actually in the establishment of its own internal analysis software”, he said, “Max said is right actually. And I want them to know, if which day to find its own internal analysis software is not working, can come to us for help. “A lot of people are afraid of their investors, but I want to say I can chat with Max is frankly I meet even the most awkward problem.” Doshi said. “he is like my father,” in terms of business.
Source: BI

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