"Early on Loom was a very individualist product and experience – a chrome extension with a niche feature allowing users to share videos instantly using a link sent over email or messaging."

"the cofounding team made a last-ditch effort and decided to double down on the one feature of Opentest that showed promise – a Chrome extension that was part of their user testing product. They launched this Chrome extension under a new brand called Loom."

"In an interview with Nathan Latka in May 2020, Shahed Khan reflected on this observation in the early days by noting that “consumer behavior tends to lead enterprise behavior by two years” which signaled to his team that they were onto something… something potentially big."

"The instantaneous availability is the technical advantage of the product. The messaging here is important, and the founding team was very deliberate when conveying it in their early days."

"The potential user must understand the functional elements of the software and be able to actually use the product as described."

"After establishing how their product would function in the market, the next strategy was to grow their userbase using a product lead growth strategy. The Loom team had no plans to monetize in the early days and set their initial goal to gain as much adoption as possible to become a ubiquitous product among organizations."

"This bottoms up approach fueled by a series of growth experiments resulted in an early referral system and other product hooks that were inherently viral."

"When they needed to share something quickly without typing an email or scheduling a call, they remembered Loom."

"During this time of high velocity growth, the team removed limits on their free-tier and decreased pricing on the pro version of the product to further capture market share while increasing their user base of customers."

"Since they were experiencing great success while others suffered from the effects of the pandemic, the team decided to make the pro-tier free for individuals in education and non-profit, as well as others who were affected by the pandemic."

"The effect of this indifference to monetization at the time and"

"effort at social responsibility fueled the further adoption of their product."

"The success of a new venture does not just lie with the founders and their vision. It is only when those founders attract a great team around them by bringing in more experience with a diverse range of skills."

"The product allows for virality with the speed at which information can be circulated from one user to the next subsequent user via the instantaneous sharing of video links. As this occurs more users use the tool which drives a cycle of value creation for everyone in the network – a centralized repository of shared knowledge through video documentation."

"Loom’s CEO, mentioned that their guidance on product development helped explain the key cognitive and psychological mechanisms to generate this new behavior of sharing videos in the workplace."

"Loom’s strategy shifted to attract the biggest customers in the world where the switching costs become too high caused by the internal network effect that is created."

"To align pricing with this shift in strategy, Loom launched Loom “For Teams“, introducing a Business and Enterprise plan (shown below) to strategically move upmarket and focus on contracts that garner higher LTVs."

"Loom is constantly monitoring the data behind users’ video sharing tendencies which will become extremely valuable during the sales operation to target net new accounts and expand current customers. By using this data, Loom will be able to easily identify potential prospects and have a warm introduction to key decision makers through their individual power users."

"The next long-term initiative that must constantly be on the product team’s mind is how does Loom make sure they are not just a feature and are built for long term success."

"Loom should double down on seamlessly integrating with more high demand platforms and communication tools to create additional use cases through everyday workflows."

"Every time a SaaS tool integrates into a symbiotic product, the user experience becomes more seamless and functionalities become more interconnected which generates staying power in any user’s workflow. This is a smart strategy for any SaaS founder who is looking to build their case around defensibility."

"Similar to the team’s approach in the early days. What Loom did right in the beginning was simple. They scaled back then focused on one core feature. The result? Product/market fit. Now with such a large user base that is growing daily, they can shoot for aspirational goals."