Coda launched at the start of 2019 with a few hundred customers after five years in development. The majority of their $60m in funding has been spent on development. 70-80% of the team were engineers through 2018. 50 people today as they look to scale hiring in areas like customer success, and growth. Since then, the company says it has grown to more than 25,000 “teams,” which it specifies as individual networks of users at companies that include Uber, The New York Times, and Spotify. The Coda founding team had significant experience that allowed them to raise $25m in one weekend with a pitch deck made of 69 product mock up screenshots. Led by Greylock and general catalyst. Coda Got 5k Upvotes On ProductHunt in 2017 Which Drove 20,000 New Signups. Other channels include a Sub-Reddit that covers Coda updates. 170 members follow. If 100 Coda signups make it past the first 14 days, 80% of them will use the tool 3 out of the 7 days each week. “Churn is very low after first 2 week trial period. Each month we’ll see 1-2% of active users churn off or about 20-30% on an annual basis”, says Mehrotra. Today 10k-50k people use the tool daily (DAU), hoping to break 100k DAU’s next year in 2020. Those active users created between 10k-50k docs over the last 30 days. That being said, most freemium models need to hit 10m+ monthly active users to start to see billion dollar sort of network effects.