Mixpanel, the analytics startup backed by Sequoia Capital, hasn’t yet succeeded in its goal of unseating established analytics services like Omniture — but momentum is building.
Let’s start with the biggest number that co-founder Suhail Doshi shared with me this week. He says the company is now tracking 4 billion actions every month. Back in July 2010, that number was “only” 1 billion. He also says there are more than 2,500 organizations who are sending Mixpanel data every month (I guess that’s Mixpanel equivalent of an “active user”). And that customer base was built through word-of-mouth because, Doshi says, “We basically do almost no marketing” the startup’s total monthly marketing spend is between $3,000 and $5,000.
Mixpanel charges customers based on the number of actions it’s tracking, so with billions of actions tracked, it’s not too surprising that the business model seems to be working as well. Doshi says revenue has quadrupled since nine months ago, that Mixpanel now on a run rate for several million dollars of revenue a year, and that the company is cash-flow positive.