NPLG 5.11.23: No-Code + AI + PLG (Glide)

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NPLG Startup of the Week: Glide

Over the next decade, there will be a democratization of software development. Two major trends driving this are the proliferation of no-code and low-code software builders and advancements in AI.

One of the emerging leaders in the AI-powered no-code space is Glide. I have been following Glide for awhile now and am thrilled to feature them this week as the NPLG Startup of the Week. Over 85,000 businesses have created custom software with Glide—a tool that allows anyone to quickly create powerful apps on top of Google Sheets, Excel, Airtable, and other data sources—all without writing a single line of code. Glide has raised ~$24M from Benchmark and First Round.

For this edition of Notorious PLG, Glide CEO and Founder David Siegel and Head of Content Rae Dinh share their PLG strategy that has enabled Glide to scale quickly and efficiently. 

No Code + AI + PLG

“Glide uses a number of product-led growth (PLG) tactics, including templates, a community of Glide Experts, and a free business trial to fuel its growth.

Templates to Ease User Onboarding

A seamless and effective onboarding process is the foundation of any successful product-led growth strategy. Glide recognizes the importance of getting users up and running quickly while showcasing the platform's capabilities and value proposition.

One of the key strategies Glide employs to enhance its user onboarding experience is offering ready-to-use templates based on popular customer use cases. These templates, which cover a wide range of applications such as inventory management, CRM systems, customer portals, and more, allow users to jumpstart their app-building journey. Glide also takes submissions to its template store from users and has hundreds of templates created for specific use cases like scheduling inventory audits, managing help desk tickets, collecting internal feedback, and more.

By providing these templates, Glide not only reduces the time and effort required for users to create their first app but also showcases the platform's versatility and potential. The templates are fully interactive with dummy data so users can test them out before signing up. Once they sign up, users can then customize these templates to suit their unique requirements and data sources. This hands-on approach helps new users grasp Glide's core features and functionalities, enabling them to experience the value of the platform from day one.

Additionally, Glide offers a guided onboarding experience with documentation and a magic cursor that walks users through the process of building an app from scratch or customizing a template. This interactive library and guided onboarding experience provide step-by-step instructions as well as helpful tips, ensuring users understand the platform's capabilities and get the most value out of their app.

To build upon the success of its templates, Glide is currently developing its AI App Builder to offer users more flexibility and customization. Although still in the prototype phase, the AI App Builder will provide a more personalized and dynamic app-building experience by intelligently adapting to users' specific needs. The AI App Builder works by asking users about the type of business problem they're trying to solve and then generating app designs tailored to address those issues. This approach goes beyond the constraints of traditional templates, offering a higher degree of customization and efficiency in the app creation process.

Elevating Customer Voices as “Unstoppable Geniuses”

A strong community is a key driver of demand generation and organic growth. Positive word-of-mouth effects not only attracts new users, but also reinforces the brand's reputation as a trusted and reliable solution. Glide has adopted an innovative approach to fostering virality by amplifying the voices of its customers (dubbed the “Unstoppable Geniuses”) and partnering with Glide Experts—agencies or individuals who specialize in building Glide apps for clients.

This unique strategy achieves multiple objectives:

1. Leverage Expertise: By partnering with Glide Experts, the company taps into a pool of skilled professionals who are well-versed in the platform's capabilities. These experts showcase the true potential of Glide by creating feature-rich and visually stunning apps that serve as examples for prospective users.

2. Expand Reach: Glide Experts, in turn, act as brand ambassadors, promoting the platform to their own clients and networks. As they build apps for various industries and use cases, they spread awareness about Glide's versatility and ease of use, reaching a wider audience and attracting new users to the platform.

3. Foster Community: Glide's collaboration with experts also contributes to the development of a strong community around the platform. This community serves as a valuable resource for both new and experienced users, as they can host workshops, exchange ideas, share tips and tricks, and support each other in their app-building journey. Users can also find support to FAQ in its community forum on discourse at **https://community.glideapps.com**

4. Enhance Credibility: By showcasing successful projects completed by Glide Experts, the company demonstrates the real-world impact and effectiveness of its platform. This enhances Glide's credibility in the eyes of potential users, making them more likely to give the platform a try. Glide recently launched a **customer stories page** that highlights experts and customers in the community.

5. Built-In Feedback Loop: The ongoing collaboration with Glide Experts also provides valuable insights into the platform's strengths and areas for improvement. This feedback loop ensures that Glide can continue refining its product offering to better serve its users and stay ahead of the competition.

By leveraging the power of Glide Experts, the company has created a win-win scenario that drives product virality, expands its user base, and reinforces its reputation as a leading no-code app builder.

Upgrading Users with Business Plan Free Trial

In the competitive landscape of no-code app builders, offering a compelling and accessible entry point to potential users is essential for driving growth. Glide's freemium model, coupled with a free trial for its business plan, effectively attracts new users while providing a clear path to monetization.

The freemium model allows users to explore Glide's core functionalities without any financial commitment. This low barrier to entry encourages experimentation, enabling users to discover the value of Glide's platform at their own pace. By experiencing the ease of building apps with Glide firsthand, users are more likely to become advocates of the platform, further enhancing its growth. In this free tier, users can already add the power of AI to their apps by leveraging their OpenAI integration.

To convert users into paying customers, Glide offers a free trial of its business plan. This trial period enables users to access premium features and experience the full capabilities of the platform. Some of the advantages of the business plan include:

1. Enhanced customization and branding options

2. Advanced features and integrations

3. Increased data sources and scalability

By providing a taste of these benefits during the free trial, Glide incentivizes users to consider upgrading to the business plan. The trial period also serves as an opportunity for users to assess the return on investment and determine if the business plan aligns with their needs and budget.

To maximize the effectiveness of the free trial, Glide focuses on the following strategies:

1. Clear Product Marketing: Glide ensures users are well-informed about the benefits of the business plan and the features available during the trial period. This transparency helps set expectations and minimizes the risk of confusion or disappointment.

2. Timely Support: During the trial, Glide's customer success team is proactive in providing support and guidance, helping users make the most of the premium features and ensuring a positive experience.

3. Usage Analytics: Glide monitors user behavior and engagement during the trial period to identify patterns and opportunities for improvement. This data-driven approach enables the company to optimize the trial experience and increase conversion rates.

By employing a freemium model and offering a free trial of its business plan, Glide effectively converts users into paying customers while maintaining a wide user base. This approach to monetization and conversion is a key component of Glide's product-led growth strategy.

If you're looking to build an app for your business, project, or personal use, there has never been a better time to give Glide a try. Experience the ease and versatility of the platform firsthand and join Glide’s mission to power the next 1 Billion software creators.

Beyond the Ecosystem: Open Source Strategy

Glide also open-sourced quicktype and Glide Data Grid, used by over 80k developers each month. (One of Glide’s competitors even adopted its Data Grid.) Glide uses these open-source tactics for recruiting, and to increase developer mindshare.

Go to www.glideapps.com to start building your own app today.”

I would love feedback. Please hit me up on twitter @zacharydewitt or email me at zach@wing.vc. If you were forwarded this email and are interested in getting a weekly update on the best PLG companies, please join our growing community by subscribing.

PLG Benchmarking (Startups):

This is a new section! I will continue to update these metrics and add new metrics. I would love your feedback on what else I should track.

Conversion rate (website → free user):

• Best: 10%

• Good: 5%

Activation rate (free user → activated user):

• Best: 60%

• Good: 30%

Paid conversion rate (free user → paid user):

• Best: 8%

• Good: 4%

Enterprise conversion rate (free user → enterprise plan):

• Best: 4%

• Good: 2%

3-month user retention (% of all users still using product after 3 months):

• Best: 30%

• Good: 15%

Conversion from website to free user:

• <1 month on waitlist: ~50%

• >3 months on waitlist: 20%

For more detail on acqusition rates by channel (Organic, SEM, Social etc), please refer to this prior NPLG.

PLG Financial Benchmarking (Public PLG Companies):

Financial data as of previous business day market close.

Best-in-Class PLG Benchmarking:

15 Highest PLG EV / NTM Multiples:

15 Biggest PLG Stock Gainers (1 month):

Complete Notorious PLG Dataset (click to zoom):

Note: TTM = Trailing Twelve Months; NTM = Next Twelve Months. Rule of 40 = TTM Revenue Growth % + FCF Margin %. GM-Adjusted CAC Payback = Change in Quarterly Revenue / (Gross Margin % * Prior Quarter Sales & Marketing Expense) * 12. Recent IPOs will have temporary “N/A”s as Wall Street Research has to wait to initiate converge.

Recent PLG Financings (Private Companies):

Early Stage:

• Alison, a startup out of Israel that uses AI to analyze creative work, has raised $5.1M.  The round was led by YellowHEAD and Crescendo Venture Partners, with participation from Cardumen Capital and Andreessen Horowitz.

Seed:

• Airspeed, a developer of team-building software and Slack apps designed for modern companies to connect digitally, has raised $5M. The round was led by Venrock and Greylock Partners, with participation from Salesforce Ventures, GTMFund and Next Play Ventures.

• NinjaTech.AI, a developer of a conversational AI platform designed to enhance productivity for working professionals, has raised $5M. The round was funded by SRI Ventures, Candou Ventures and DCVC.

• Spawning, a developer of digital tools intended to manage AI identity, has rasied $3M. The round was led by True Ventures, with participation from Jacob.eth, Noise DAO and Seed Club Ventures.

Series A:

• Slash, an operator of an online banking platform intended to seamlessly transfer funds between personal and business bank accounts, has raised $19M. The round was led by NEA, with participation from Y Combinator, Menlo Ventures, Connect Ventures and Soma Capital.

Series B:

• 1touch.io, a developer of an AI-based platform designed for sustainable data discovery and management in the ecosystem for privacy, security, and data governance, has raised $14M. The round was led by Neotribe Ventures, with participation from National Grid Partners, Ocean Azul Partners and Jerusalem Venture Partners.

Later Stage:

• OpenAI, the company responsible for ChatGPT, has raised $300M at a valuation of $27B-29B. Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global all participated in the funding.