a new unicorn: notion reaches $ 2 billion valuation.
Notion has become a leading name in workplace productivity and collaboration – acting as an all-in-one space for everything from tracking, managing and planning intricate projects to setting simple, everyday reminders. Founded in 2013, and previously valued at $800 million, Notion recently received a new valuation of $2 billion after an Index Ventures led funding round that raised $50 million.
Whilst Notion’s valuation is a sizable leap from its last, and its userbase growing exponentially every year (nearly quadrupling in the last year), the startup itself remains unusually small and distinctly humble, with around ten people building the product, ten focusing on community and support, and some more on marketing and sales. In total, Notion’s team is just forty-two people. And so far, they haven’t needed anything more. As CEO Ivan Zhao stated in an interview with The New York Times, “Moby Dick is written by one person. Adding another person doesn’t necessarily give you a higher-quality Moby Dick. It doesn’t even necessarily make it faster.” And to some extent, he’s right.
Notion has become an exemplar of a startup who is wary of rapid growth and the potential consequences of bloating, and they’ve even become notorious for turning away venture capitalists, a daily activity for them. Despite this, Notion is not against growth, and even in recent months their workforce has grown considerably. It is, however, the small, focused, undiluted mindset that has acted as a foundation for Notion’s unicorn valuation.
Whilst thousands of startups are drastically cutting costs and laying off staff to keep afloat amid coronavirus, Notion is among the lucky few who are only growing through this global situation. With more and more people around the world working from home and teams scrambling to adapt to remote working, Notion is the answer for many. Its smart, functional and simple interface is the accessible foundation for users to create connected databases, workspaces and communication channels. And with its newly acquired funding, enough for ten years of operation, Notion is set to thrive in the months to come.