Branch, a deep linking SDK, is now a unicorn

From TechCrunch:

Branch, the deep-linking startup backed by Andy Rubin’s Playground Ventures, will enter the unicorn club with an upcoming funding round.

The four-year-old company, which helps brands create links between websites and mobile apps, has authorized the sale of $129 million in Series D shares, according to sources and confirmed by PitchBook, which tracks venture capital deals. The infusion of capital values the company at roughly $1 billion.

I remember seeing a talk from these guys when they were brand new at the (now defunct) Where 2.0 conference in 2014. Back then, deep linking was novel and new, and was not widely supported by the mobile platforms.

We use Branch at FATMAP, and I can say it’s a very easy way to get deep links set up across a range of content types in a mobile app.

That they are now worth a billion dollars is on one hand a bit odd: they are basically packaging platform functionality in an SDK and charging app developers for it. There is nothing particularly unique or defensible with what they are doing, and it’s nothing a medium or bigger sized app developer can’t build on their own.

On the other hand, it’s a signal of the health of the app development platform industry. I have to wonder what their exit strategy is though. An obvious potential acquirer would be Google, while would buy it for the data, or Microsoft, who would buy it for the developers and make it part of their overall developer platform.

Either way, they are now a rather expensive acquisition.

Barrels and Ammunition

I came across this quote from Keith Rabois:

If you think about people, there are two categories of high-quality people: there is the ammunition, and then there are the barrels. You can add all the ammunition you want, but if you have only five barrels in your company, you can literally do only five things simultaneously. If you add one more barrel, you can now do six things simultaneously. If you add another one, you can do seven, and so on. Finding those barrels that you can shoot through — someone who can take an idea from conception to live and it’s almost perfect — are incredibly difficult to find. This kind of person can pull people with them. They can charge up the hill. They can motivate their team, and they can edit themselves autonomously. Whenever you find a barrel, you should hire them instantly, regardless of whether you have money for them or whether you have a role for them. Just close them.

It’s a really interesting way of thinking about the people in your teams.

You know the people that can make things happen. They can take initiative, and then push through organisational and other problems to make things happen, without needing someone to approve or unblock them.

The amount of things you can get done in parallel is limited by how many barrels you have.

You generally know a barrel when you see one; but here are, I think, some common characteristics:

  • “Ask for forgiveness, not permission”. Barrels will not wait for approval or consensus. They take initiative, and follow through.
  • Barrels take accountability. They stand up and own the plan, and the result.

When you find a barrel, the most important thing you can do is point them in the right direction, and let them go.