how does airtable make money?
In this blog, we will explore the topic”How does airtable make money”, We will also discuss the history of airtable, the valuation of airtable, some of its integration and most importantly how airtable makes money. If you want to know more, then keep on reading.
how does airtable make money
Airtable makes money by a freemium basis, with premium capabilities available for a fee. Airtable has three premium tiers: Plus, Pro, and Enterprise, each with a greater level of capability.
What is airtable
Airtable is a San Francisco-based cloud-based collaborative solution. The business was created in 2012 by Howie Liu, Andrew Ofstad, and Emmett Nicholas.
An Airtable database is a spreadsheet that has all of the functionality of a database but is structured like a spreadsheet. In comparison to spreadsheet cells, Airtable fields may be classed as ‘checkboxes, phone numbers, or drop-down lists, and, unlike spreadsheet cells, they can also hold attachments such as photos.
This programme enables the creation of databases, the configuration of column types, the entry of data, the linking of tables for collaboration, the sorting of data, and the publication of views to other websites.
History of Air Tables
Airtable was created in 2012 as a joint effort by Howie Liu, Andrew Ofstad, and Emmett Nicholas. Online databases may be created and shared with the use of the company’s cloud-based software.
This privately owned corporation has not yet achieved profitability. While operating in stealth mode for more than two years, the firm developed the software and rapidly expanded as a consequence of angel investors such as Ashton Kutcher and others. Both the core product and the accompanying iOS application were introduced in 2014.
Cloud computing services have fundamentally altered the process of starting and expanding a business. Cloud computing technology now forms the backbone of the great majority of enterprises.
Consider Airtable if you’re looking for a database management system that can handle all of your requirements. Apart from storing data securely, cloud computing enables collaboration with employees regardless of their location and offers your organisation with the flexibility it needs to develop without sacrificing any advantages.
When dealing with commercially sensitive data, extreme attention to detail is required to guarantee that security, redundancy, and other safety standards are followed to the letter of the law. Airtable is less costly than other choices and has the capacity to expand with your business’s demands.
How does airtable make money?
There is a free version of the application available for download. Those who choose to upgrade to the Plus edition will pay an extra $12 per month (or $120 per year). Upgrades to the Pro version are $20 per month (paid annually) for any user who wishes to do so.
According to GrowJo and LATKA, Airtable’s yearly revenue predictions range from $47.9 million to $65 million per year, respectively. Due to the fact that it is a private entity, the company does not disclose financial information. According to estimates, more than 250,000 businesses now utilize the service, with each paying at least $120 a year per user if an enterprise discount is not secured.
Airtable has a total workforce of 417 employees (August 2021). The number of Airtable workers has increased by more than 100% in the past year alone. In the United States, the average annual wage for a full-time employee is $114,748.
The majority of Airtable’s customers are huge technology companies such as Tesla, which pays an annual membership fee for its more than 70,000 employees.
Airtable’s sales staff handles the annual recurring revenue (ARR) of enterprise customers on a case-by-case basis, depending on their needs. A-E Networks, Autodesk, Buzzfeed, Condé Nast Entertainment, Cole Hann, Expedia, Medium, Netflix, Shopify, and Time magazine are just a handful of the large corporations that have used Airtable as their project management tool.
Airtable has a strong foundation for growth, courtesy of investors such as Aston Kuther’s fund, Caffeinated Capital, Freestyle Capital, Data Collective, CrunchFund, and the Box Group.
Airtable received $7.6 million in a Series A financing round in 2015, Business Upside reports, after a $3 million venture capital investment in February of that year. In May of this year, a $52 million Series B financing was completed. The firm obtained a $100 million Series C round of investment in November 2018, raising the company’s total value to $1.1 billion.
Airtable’s valuation climbed from 1.1 billion to 2.585 billion dollars in September 2020, placing it in the top 1% of all publicly listed firms. In March 2021, the firm was valued at $5.8 billion after a $270 million Series E deal. This is an unusually high value for a privately held firm whose creator, Howie Liu, has said that he has no immediate plans to take the company public.
Airtable, according to LATKA, is one of the most successful SaaS companies in the world right now. By 2021, it is estimated that over 250,000 users would earn $65 million. If the company’s annual recurring revenue (ARR) is $65 million, the company’s $5.8 billion market capitalization equals $89 million in ARR.
Competitors Of Airtable
Airtable’s competitors include Trello, Monday.com, Wrike, and Teamwork. The Airtable system may be accessed and interacted with through the APIs given by the bulk of the company’s rivals.
How Does Airtable Work?
A cloud-based solution, such as Airtable, guarantees that all data gathered and processed is stored and processed on Airtable’s cloud servers. Offline usage of Airtable is limited to the downloading of CSV spreadsheet files, which may then be imported into spreadsheet applications such as Microsoft Excel. Offline use is restricted to the download of CSV spreadsheet files while working with Airtable. Due to the collaborative nature of the software, it is only feasible to use a portion of the programme while connected to the Internet.
To provide users with a familiar table layout similar to that seen in a standard spreadsheet such as Excel while also allowing the table cells to do a variety of useful tasks, the Airtable team developed a proprietary table engine. These are referred to as “no-code” technologies.
A “flexible relational database model” is a relational database model that can handle data from user-defined fields. There are now over a thousand systems integrated into the system of which the field is a part, to name a few examples of the types of data that may be entered into the field.
A product roadmap, a content calendar, and a calendar for an upcoming event are all examples of how to use a product roadmap. The user may see data in a variety of ways.
Examples of views include:
Grid: The grid format is similar to that of a spreadsheet, but with one significant difference: everything may be color-coded and sorted by date and priority.
Calendar: The calendar display is organized by month and date. Each calendar item may be connected to other media.
Gallery: When viewing a project in the gallery view, you can see the several departments involved, each with its own color-coded tag.
Kanban: Low, medium, and high priority items are organized in three columns of the Kanban style with a wish list column added in for good measure.
Views can be published in many ways, including:
Gant: An example of a project flowchart that depicts the stages, deadlines, and phases required to accomplish a project.
Web Page Design: This is a graphical user interface (GUI) design tool that is what-you-see-is-what-you-get (WYSIWYG), drag and drop, and has a visual editor. It is incredibly intuitive and simple to use, and there is no need for any training.
SendGrid: It is possible to email the results of a grid to another person or persons. This functionality makes it simple to organize email campaigns and send large numbers of emails at once.
Scheduler: This function searches through a large number of calendars to check if there are any available times for several parties to arrange an appointment at the same time.
Custom Solution: It is easy to design a custom app that is tailored to the individual needs of each team.
Business Process Automation
Business process automation (BPA) has the potential to increase human productivity by automating time-consuming tasks. If an updated piece of manufactured material is uploaded, an automatic notification is sent to everyone who has an interest in it.
A third approach for pushing projects forward is to make use of the Generate Assignment tool, which will automatically produce a work assignment for each project participant. An example of this method would be to use the approval of an advertising campaign to trigger a final legal review for compliance and then submit the ad to be included in the campaign once it has passed legal approval. A trigger may cause custom programming code, such as an API to connect to one of the various integrated apps, to run. Triggers can also cause custom programming code to run.
Airtable is compatible with almost every popular application. It offers developers with a well-developed application programming interface (API) (API). Airtable may be integrated with a wide variety of other applications using services such as Automate.io, Workato, and Zapier. There is little difference in the case of Airtable. Apart from the functionalities mentioned before, Airtable may be linked to a variety of other popular programmes using the Airtable connection protocol. Airtable’s primary competitors are likewise compatible with the software package.
In conclusion, we discussed the topic “How does airtable make money”. We found out that airtable makes money on a freemium basis, with premium capabilities available for a fee. Airtable has three premium tiers: Plus, Pro, and Enterprise, each with a greater level of capability.
Frequently asked questions (FAQ): How does airtable make money
Is Airtable profitable?
Today, Airtable is losing money. Since moving to enterprise sales would involve major investment in engineering, sales and support, profitability is unlikely in the near future.
What is Airtable revenue?
Airtable has been valued at $11.7 billion, making it one of the most valuable software startups ever.
Why do people use Airtable?
You may use it for a variety of things, including project management, inventory management, event planning, and more.
Is Airtable better than Excel?
If you’re currently using spreadsheets, Airtable is the superior choice. Spreadsheet programmes like Excel make this task considerably more difficult. As a result, many individuals continue to utilize spreadsheets because databases are too difficult.
Is Airtable a public company?
Airtable was founded in 2012 by Howie Liu, Andrew Ofstad, and Emmett Nicholas. It was reported in a March 2019 Business Insider interview with CEO Howie Lie.
How Airtable Became a Unicorn By Reinventing the Spreadsheet. (2019, February 18). Nira. https://nira.com/airtable-history/.
Airtable Raises $185M And Launches New Low-code And Automation Features – TechCrunch. (n.d.). TechCrunch. https://techcrunch.com/2020/09/14/airtable-raises-185m-and-launches-new-low-code-and-automation-features/.
The Ultimate Manual To Airtable Vs Excel. (2021, November 12). Nira. https://nira.com/airtable-vs-excel/.