Why is Sequoia Looking Into Associative Browsing Add-on SimilarWeb?
I see new startups in this category almost weekly. We’re bearish on add-on plays because the “get them to download, install and use” parts are tricky – and monetizing those users is nearly impossible. In recent months, though, SimilarWeb’s name keeps popping-up and the reason may be the technology it’s spent two years building out. Sequoia Capital Israel, we’ve heard, is spending extra time looking into it and your typical add-on play doesn’t normally make their cut. So what is it about this little company?
Or Offer, CEO, was visibly uncomfortable every time I tried prying details about their technology, but finally relented with some general explanations: The backbone of SimilarWeb’s technology is based on multiphase analysis, which in plain English means that there are several engines running in the background, analyzing websites based on different mechanics, metrics and workflows. These include: user browsing trends, user ratings, tag analysis, ecosphere analysis, semantic breakdowns, and automated background research.
The company claims to have mapped millions of sites, and adding tens of thousands daily. This means that it will always suggest other sites, regardless of whether the site the user is currently on is a popular one, or one much further down the tail.
Nothing of the above stands out particularly or sheds light as to what’s so interesting about this company. A technical due diligence may be what’s necessary to truly understand SimilarWeb’s edge. No matter how you look at it though, the company is doing what it needs to be taken seriously… It has amassed thousands of users in the three months since its launch. Dr. Yossi Vardi is an investor and they seem to have Sequoia’s attention. Must be satisfying after two year’s worth of coding under the radar.