Re:Rethinking Triplebyte
by mikeg8 on Thursday June 17, 2021 @07:45PM
(#27545746)
So you accepted 6K onto platform, about 4k got offers, and just under 2k accepted. Roughly a 1% conversion rate for those who applied? Yikes.
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I don't know much about them, but the post does say their goal was to be "exclusive gatekeepers". If you consider it from that perspective, they had more like a 1/3 conversion rate (2/3 * 1/2). But conversion kind of seems like the wrong metric.
What metric would make more sense here, though? I can agree that from TBs perspective, they may not factor total applicants as their base # (although that is clearly their market). However this exclusivity of only using the small percentage they accept doesn’t seem to be a scalable business model. Having 1% of the devs who try their service actually accept an offer would not entice me to try their service.
>However this exclusivity of only using the small percentage they accept doesn’t seem to be a scalable business model.
For sure. That's very likely why they're making this pivot. Exclusivity was their goal, but it just turned out to not be a very profitable goal for them, it seems. I was basically just saying it seemed to be a "theory" issue rather than an "implementation/execution" issue.