Minimum Viable Product (MVP) Examples for 2022
These are reasons why any venture should test their ideas, to analyze the reaction of users by creating minimum viable products. For more information read this post to discover a few examples of a minimum viable product (MVP) 2022.
Many startups fail because entrepreneurs assume that their fully developed product is fit to meet the market demands. Once it is launched and the assumptions are wrong, businesses never get off the ground. For these reasons, any venture should test their ideas to analyze the reaction of the users by creating minimum viable products. Mentioned below are a few examples of MVPs.
Much to the surprise of most people, Netflix was started in 1997 as an online rental service for DVDs by executives Reed Hastings and Marc Randolph. The service did well and by 2005, 4.2 million users had been garnered.
The founders used their market knowledge and noticed a technology shift. So they built an MVP for online streaming and rolled it for their already established customers. Netflix iterated and improved the MVP to become one of the top content streaming and production companies.
Now users can watch limitless movies and series from anywhere provided there is an internet connection.
2. Virgin Airlines
Owned by the famous Richard Branson, Virgin Airlines is one of the largest British airlines operating internationally. It started with just one plane flying on one route between Newark and Gatwick.
Once the hypothesis was verified, aeroplanes and routes around the world were increased. The airline now successfully runs across domestic and global destinations carrying cargo, passengers, and mail. The maximum net profit generated by the airlines in 2016 was 180.9 million British pounds.
The founder Reid Hoffman, started LinkedIn as a barebone product in 2002 consisting of only a website with user profiles and email invites connecting the knowns. The product was iterated based on user feedback received.
The features included uploading an address book for bulk invitations and colleague endorsements. Following this the growth of LinkedIn accelerated.
From 2005 to 2007, the product was continuously scaled with the focus on building advanced features and premium services. A mobile version was also released in March 2006. The continuous development and market fit product research led LinkedIn to the heights of success. It now has over 706 Million users in more than 200 countries and regions.
Spotify started as an MVP product when its founders Daniel EK and Martin Lorentzon identified an opportunity to provide music lovers with a product to stream songs. It started in 2006, in Sweden with a narrative to unlock human creativity and from there, various iterations were delivered.
The successful MVP led to the development team building mobile apps, various artist engagements, and the solution was extended. Today, Spotify has 138 million premium subscribers worldwide.
In 2008, the high price of cabs in San Francisco led Garrett Camp and Travis Kalanick to think of affordable alternatives. So they developed an MVP by the name of ‘UberCab’ and introduced it to iPhone users in San Francisco.
On other mobile devices, the service was available via SMS. The app proved successful and the founders understood that the ride-sharing app had a good market.
The application was further iterated and the functionality was expanded like - GPS, ratings, and reviews, ride-sharing, multiple destinations, calendar shortcuts, real-time tracking, and much more. The data from the app further helped Uber to scale and swiftly become the number 1 ride-sharing service worldwide.
Twitter, originally called ‘twttr’ was designed for Odeo’s internal employees. It was used to send messages to other employees. After initial testing, the product was released to the public on July 15, 2006. But the real success came to Twitter when it was featured in a Southwest Interactive conference in 2007.
During that time the social networking platform saw an increase in tweets from 20,000 to 60,000 a day. Further, twitter’s popularity helped it to scale to a billion-dollar social network with 330 million active monthly users, currently.
An American ecommerce company, focused on craft supplies and vintage items was founded by a group of four close friends in 2005. On a crafting community forum, the founders Rob Kalin, Jared Tarbell, Chris Maguire, Haim Schoppik, saw artisans complaining about the high fees of eBay and the difficulty of selling handmade products.
With this in mind, the founders built a simple yet highly successful MVP with an approach to provide users the ability to create accounts for selling their handmade items. Within a matter of days, the website got thousands of sign-ups and Etsy became popular despite its primitive design and basic functionality.
Now, Etsy has scaled, becoming a vast community for handcrafted goods all over the world. Its current valuation is $30.55 Billion.
If you have a startup idea, then it is worth testing for consumer feedback through mvp software development. Through the journey of several MVPs, as shared above, it is clear that on the basis of feedback received, the product can be iterated or pivoted if proven viable.
Once the MVP is a success among early adopters, they can help evangelize and acquire more users.