Another interesting finding is that many of the billion dollar companies were not monetizing their customers at the time of their Series A round, including Twitter, Pinterest, Houzz, and Nextdoor. At this stage, they were focused on building a user base rather than making money. These startups first focused on nailing their customer proposition and increasing adoption and engagement. Once they had established themselves firmly in the market and reached massive scale, then they started to think about revenue.
One of the key characteristic of a Billion Dollar company is to have Zero Monetization strategy. The goal is to grow as many users as possible and make its product indispensable. Making money is secondary. Do you agree?