It’s no longer enough for startups to hype how many users they have. They need to prove they’re making money, too. That was evident at a panel The Information’s New York Subscriber Summit featuring executives from Vox Media, workplace software company Asana and health insurance startup Oscar.
For Asana, which raised $50 million of new funding last week, the key is flipping people who are using its free software product into paid subscribers. Sam Goertler, product manager at Asana, said the company “tries to come up with a monetization strategy of each feature” so that customers “don’t try to freeload off the product indefinitely.”