Second month metrics for Watermelon
Three months ago we were a pair of hackers with just an idea. With the dream to onboard developers to new codebases 10x faster.
Three months later we have a stable product, unknown people from renowned companies using our product various times per week, and a successful Show HN launch under our belt.
Learning from users at scale
We launched on Show HN as a pair of hackers looking for feedback. We learned a lot in a couple of hours.
We pasted a link to Watermelon’s GitHub repository. We learned very interesting things such as:
A lot of this has already been fixed.
The main problem we’re working on solving right now is that we’re taking too long to show value. We need to show value to developers in a single step, without making them think, in a way that’s more embedded to their already existing workflow.
Right now we’re working on showing you value on hovering lines of code. Stay tuned.
This launch is also making our graphs look very nice.
WAU/MAU ratio as our engagement metric
Sequoia has a very good blog post about selecting the right user metric.
From what we’ve seen until the moment, our most engaged developers use Watermelon 3 times a week at most. Because of this, we’ll focus on the WAU/MAU ratio as our engagement metric. As time goes on we’ll also look at the DAU/MAU ratio.
Our goal is to hit a 60% WAU/MAU ratio to be classified as a weekly usage product. We’ll build the first report for this metric next month. Netflix, YouTube, Amazon and Walmart are products that focus more on weekly usage VS daily. We’re in this category.
Setting up our Open Core business model
Short term we are focused on qualitative and quantitative feedback to build the most sticky product possible. Long-term, we wanna become the best company in the world at making engineering teams collaborate better. This implies making revenue.
With our open core business model we’ll maintain two repos: Our community edition which is the one you already know and love, and a private one which has the same code as the open one but with additional features. These features are a mixture of unlimited usage and functionalities tailored towards engineering managers.
We are already in conversations with various engineering managers and CTOs to achieve this. We’ll invest more time on this after Q2. However, we wanna understand the compliance needs these managers have, what metric(s) they want to improve with a solution like ours, and how the buying process looks like from now.