Chrome Users Exceed iPhones
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Sam Parr challenges the notion that Chrome extensions are a limited market, highlighting the massive potential in browser-based tools compared to mobile apps. He emphasizes that while some may dismiss Chrome extensions as not serious business, the numbers and success stories suggest otherwise.
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Market Size Comparison:
- Chrome: 3 billion users with only 200,000 plugins
- iPhone: 1.6 billion users with 2 million apps
- This ratio suggests significant untapped opportunity in the Chrome extension space
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Notable Success Stories:
- Honey sold to PayPal for $8 billion
- Had 17 million users at time of sale
- Automatically finds and applies discount codes
- Grammarly:
- Does over $100 million in annual revenue
- Raised $100 million at over $1 billion valuation
- Pinterest started as a Chrome extension with their pin button
- Honey sold to PayPal for $8 billion
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Key Advantages of Chrome Extensions:
- Very low churn rate compared to iPhone apps
- Users tend to keep extensions installed long-term
- Less competition (200k plugins vs 2M apps)
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User Adoption:
- While some believe extensions are only for tech-savvy users
- Traditional marketing (TV commercials) can drive mainstream adoption
- Example: Shaan's mother adopted Grammarly after seeing TV commercial
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Distribution Strategy:
- Can work as standalone product or complement to main product
- Lower friction to install compared to mobile apps
- Marketing can overcome technical barriers to adoption
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.