A week ago we announced our Series A funding with Foundry Group and Vulcan Capital for $6.75 million. I called my Mom the week before and quietly and proudly told her the news. Yes, Gist was building, growing and, dare I say, prospering in a tough business climate. Her first response was of concern for her middle child…’Be careful your brothers might be calling for money.’ My brothers didn’t call for a loan…luckily, but if you ever wanted to know how things can change with such an announcement, here is a snapshot:
Users, Users and More Users…
We’ve been in closed beta since September of last year, and user registrations and beta invites have been growing steadily since then. Tuesday, was the exception. As the graphs show below, we got hammered.

Fortunately, all the work that the dev team completed just prior to the announcement paid off and we didn’t have a single service issue. User registrations increased 50 fold and our overall web traffic increased substantially.
The surprising statistic was that average time spent on the site increased substantially and return visitors also pegged the meter. We’ve added some great features in our May release; things like Twitter integration, blog discovery and crawling, better news management and better email and data integration. This is just the beginning. We envision Gist to be a tool that provides for significant daily value and the depth of our application and feature set will continue to grow substantially over future releases.
User Feedback…
Another great surprise was the amount of feedback from our beta users. The quality and consistency of the input about our new release and funding announcement has been amazing! We have been working overtime to follow-up on every single feedback item and love hearing your thoughts on Gist. Over the next few months we’ll be implementing many of the suggested changes, and feature requests, as well as building out our support staff and infrastructure to better handle the volume of great input that we’ve been receiving. Much of the feedback has centered on requests for Mac support, better IMAP support, additional device support and better and deeper integration with data feeds. We’ve also received some great input regarding better compliance with Internet standards (e.g OAuth/OpenID) and we are moving aggressively on further adopting those standards.
Partners…
It’s always interesting to see which companies having synergistic offerings, APIs and relationships also have hungry business development folks watching the news wire. We’ve had a great response from the folks at Twitter, Facebook, Google and other major players and are looking forward to continued discussions with LinkedIn, Microsoft and many many other partner organizations. Kudos to the business development folks that have reached out and we definitely look forward to building a great offering that leverages the ecosystem of products and APIs.
Vendors…
Generally speaking, I receive about 200 emails a day…a mix of both internal development related email as well as outside partner and vendor email. Tuesday was an exception as my email volume almost tripled. If anyone has transportation needs in the Bay Area, is interested in catering services for vegetarian lunches or is exploring offshore development needs in the Czech Republic, my advice to you is to simply announce a funding event. My guess is you’ll be connected to more folks than you probably need to be.
At Gist we are very excited to be moving aggressively forward in building the vision of the product that each and every user has helped us define. We are in a game changing space, at the confluence of inbox data, social data, mainstream structured web data and unstructured public and private information. We are working hard to surface an aggregated view of all this information in a people and company-centric way to help you manage, interact and communicate with your professional network in a meaningful way. If you are as excited about this space as we are, we are hiring great people so please contact us.
We are thrilled to have Foundry Group and Vulcan behind us but, most importantly, we are humbled by all the great feedback from our users. Keep it coming!
Steve Newman, Gist CTO