Startup Spotlight #121: Adapty
Startup Spotlight #121: Adapty
Adapty is a service that helps mobile product developers increase in-app subscriptions in apps.
Author’s Note: I apologize for the delay in sending this out today.
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I got the chance to speak with Vitaly Davydov, co-founder and CEO of Adapty, about what they are working on at their startup, and any advice they have for emerging entrepreneurs.
Adapty is a service that helps mobile product developers increase in-app subscriptions in apps. It’s low-code A/B testing of monetization mechanics and subscriber services for apps.
Vitaly Davydov, one of Adapty's founders, graduated from the Moscow Institute of Physics and Technology in 2016, specializing in data science and physics, and later worked as a data science and user acquisition specialist at the EasyTen mobile app - top-10 mobile app in Education in EU.
After working at Easy Ten, Vitaly and Kirill — also an Adapty co-founder — have started their first company Poteha Labs. Machine learning consulting for mobile apps brought them over $1M in revenue for 1.5 years. One day, we decided to turn our consulting business into SaaS and it’s how we started Adapty.
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Startup Spotlight: Adapty
Problem: One of the most effective ways of growing sales is personalizing pricing and offering. Doing it in mobile apps is a tough technical and analytical challenge that requires having a data science team.
Market: The market consists of all the apps in the store that are monetized through subscriptions, which we estimate the total addressable market (TAM) to be $6B.
Solution: Adapty offers a low-code A/B testing solution and subscription infrastructure to maximize mobile app monetization revenue in mobile app monetization. With our solution, mobile marketers can remotely configure and test paywalls without designer and developer, much cheaper and faster.
Team: Adapty was founded by the founders of Poteha Labs (a consulting agency for machine learning in mobile apps with over $1M annual revenue): Vitaly Davydov, Kirill Potekhin, and Dmitry Podoprosvetov. Adapty team has 10 full-time employees who all came from Poteha Labs with 5+ years of experience in mobile development, machine learning, sales, and marketing.
Recent Success:
Davydov: We were selected to join 500 Startups. After a Demo Day TechCrunch picked us as one of the best products from the batch. Without any marketing at all, Adapty is growing organically by 20% each month since its launch globally. We believe that it’s a good sign of the market needs and product quality.
Recent Struggle:
Davydov: When we switched from a consulting business — where you do 100% of works for 1 client — to a SaaS, where you do 20% of work for 80% of the market — we didn’t think how hard it is. Everything from product development to marketing and sales is completely different. Decisions are more analytical, driven by data and intuition. The crucial thing is the speed of iteration and constantly delivering results. It’s a big process, cultural and human shift we needed to develop in Adapty. Now I think it took us almost a year for a proper shift.
Founder Advice:
Davydov: The greatest advice I’ve got was from our advisor in Adapty and it’s “Do less more.” It means “stay focused on a single thing and follow your path, regardless of what happens.” I think it’s the only advice which really works for everyone. Stay focused on a single thing, work hard and dive deep into your topic. Just keep in mind that being professional in any topic requires at least 3 years of experience, so switching back and forth won’t produce any results.
Three Cool Founders You Should Know About:
Davydov: Here are three founders you should check out next!
Ali Aliev, Founder of Avatarify: Avartarify produces AI Photorealistic Avatars in realtime,
Alex Pisarevsky, Founder of Epic Growth: Epic Growth is the largest Russian-speaking product & growth community with online and offline events.
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