$975M for product positioning
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How Loom excited for $975M with product positioning
Loom is a screen recorder tool branded as a workspace productivity product. They are the best examples of how product positioning can help you win.
Let’s dig in.
I’m sure you used it. It allows you to record your screen and your face. Now they even let you create AI summaries of videos. This type of product is a commodity. So you have to win on distribution.
So what makes Loom unique? They became the market leader by creating a narrative of remote and async collaboration. They tried really hard to create the best positioning to show that they are more than a screen recorder. And that with the growth loops, helped them grow to 20M users — fast.
Loom is trying to be more than a screen recorder
Loom is in the communication and productivity market worth over $14B — which is hard to believe why the last round of financing was at a $1.5B valuation.