Postman is an API development platform that helps developers build, test, and document APIs. It is a popular tool used by millions of developers around the world.
Postman was founded in 2012 by Abhinav Asthana, Ankit Sobti, and Abhijit Kane. The company was originally called PostmanApp, but it changed its name to Postman in 2014.
Postman is a freemium tool, with a free plan that is available to everyone. The paid plans offer additional features, such as unlimited requests, team collaboration, and API monitoring.
Postman is a cloud-based tool, so it can be accessed from anywhere. It is also available as a desktop app for Windows, macOS, and Linux.
Postman is a powerful tool that can be used to build, test, and document APIs. It is easy to use and has a wide range of features. Postman is a popular tool used by developers of all levels of experience.
Here are some of the key features of Postman:
API development: Postman can be used to build, test, and document APIs. It provides a graphical user interface (GUI) that makes it easy to create and send API requests.
API testing: Postman can be used to test APIs. It provides a variety of features for testing APIs, such as the ability to set breakpoints, view request and response logs, and generate test reports.
API documentation: Postman can be used to document APIs. It provides a built-in API documentation generator that can be used to create API documentation in a variety of formats.
Collaboration: Postman can be used for team collaboration. It provides a shared workspace where team members can collaborate on API development, testing, and documentation.
API monitoring: Postman can be used to monitor APIs. It provides a variety of features for monitoring APIs, such as the ability to track API usage, view API performance metrics, and receive alerts when APIs are not performing as expected.
Postman is a popular tool that is used by millions of developers around the world. It is a powerful tool that can be used to build, test, and document APIs. Postman is easy to use and has a wide range of features. If you are a developer who works with APIs, then Postman is a tool that you should consider using.
Here are some of the key factors that have contributed to Postman’s success:
- Ease of use: Postman is a very easy-to-use tool. The GUI is intuitive and makes it easy to create and send API requests.
- Powerful features: Postman has a wide range of features that make it a powerful tool for API development, testing, and documentation.
- Collaboration: Postman supports team collaboration, which makes it a great tool for working on APIs with other developers.
- Freemium model: Postman offers a free plan that is available to everyone. This makes it a great tool for developers who are on a budget.
Founding History of Postman
Postman was founded in 2014 by Abhinav Asthana, Ankit Sobti, and Abhijit Kane. The story of Postman’s founding revolves around the founders’ shared passion for simplifying the process of working with APIs and their vision to create a tool that would empower developers to streamline API development and testing.
Abhinav Asthana
Abhinav Asthana, one of the co-founders of Postman, was born and raised in India. He had a strong interest in computer programming from a young age. Abhinav pursued a computer science degree at the Indian Institute of Technology (IIT) Roorkee. After completing his education, he worked as a software engineer at companies like Accenture and Yahoo.
Ankit Sobti
Ankit Sobti, another co-founder, also hails from India. Like Abhinav, Ankit pursued a computer science degree at IIT Roorkee. He worked as a software engineer at multiple companies, including Yahoo, before joining forces with Abhinav to start Postman.
Abhijit Kane
The third co-founder, Abhijit Kane, is an alumnus of the Indian Institute of Management Bangalore (IIMB). He also worked at Yahoo as a Senior Software Engineer before becoming an integral part of the Postman team.
The Genesis of Postman:
The idea for Postman was born out of the founders’ personal experiences as developers working with APIs. They observed that developing and testing APIs was often a tedious and time-consuming process. The lack of suitable tools for API development and testing inspired them to create a product that would address these challenges.
Abhinav Asthana, in particular, faced various difficulties while working with APIs during his time at Yahoo. He realized that there was a need for a tool that could simplify the process of API testing, provide better collaboration among team members, and streamline API documentation.
The First Iterations:
The initial version of Postman was created as a side project by Abhinav Asthana while he was still working at Yahoo. He built a simple Chrome extension to help him with API testing and sharing request information among his team. The extension quickly gained popularity within Yahoo, as other developers found it useful for their work as well.
Recognizing the potential of their creation, the co-founders decided to turn this side project into a full-fledged product. They left their respective jobs to focus entirely on developing Postman.
Founding the Company:
In 2014, Abhinav, Ankit, and Abhijit officially founded Postman as a company based in Bangalore, India. They named it “Postman” to signify the tool’s role in facilitating communication and exchange between different software systems, similar to how postmen facilitate the delivery of physical mail.
Early Growth and Funding:
The early version of Postman, known as “Postman Chrome,” gained traction quickly among developers worldwide. Its popularity grew rapidly, and the team received positive feedback and feature requests from users.
In 2015, the founders participated in the Y Combinator accelerator program in Silicon Valley, California. This opportunity helped Postman secure its first round of funding, and the company continued to expand its team and enhance its product.
Evolution and Expansion:
Postman’s success led to the development of additional features and capabilities, such as API documentation generation and collaboration tools. The founders actively engaged with their user community to understand their needs and iteratively improve the product.
Over time, Postman evolved from a Chrome extension into a full-fledged API development platform, available as a desktop application and a web-based version. The platform’s popularity extended beyond individual developers to include small startups, medium-sized enterprises, and large corporations.
Headquarters in San Francisco:
As Postman’s user base and team continued to grow, the company established its headquarters in San Francisco, California, to be at the heart of the tech industry and be closer to potential investors and partners.
Continued Success:
Postman’s growth trajectory continued, fueled by its dedication to customer-centric product development, strategic partnerships, and an active and engaged developer community. It became a crucial tool for software developers and organizations globally, making API development and testing more accessible and efficient.
Products and Services of Postman
Postman offers a range of products and services that cater to different aspects of API development, testing, and collaboration. These products are designed to streamline the process of working with APIs and enable developers and teams to build, test, document, and monitor APIs efficiently. Here are the key products and services offered by Postman:
Postman API Platform
The Postman API Platform is the core product that includes a suite of tools to simplify the entire API development lifecycle. It provides developers with a user-friendly interface to design, test, document, and monitor APIs. The platform is available as both a web-based application and a desktop application for Windows, macOS, and Linux.
Key Features:
- API Documentation: Postman allows developers to create interactive and comprehensive API documentation. This feature makes it easy for developers, partners, and consumers to understand the functionalities and endpoints of an API.
- API Testing: The platform offers robust testing capabilities that enable developers to create and run automated tests for APIs. Developers can send requests, inspect responses, and validate API behaviors using Postman’s testing framework.
- Mock Servers: Postman’s mock server feature allows developers to simulate APIs even before they are fully implemented. This is particularly useful for frontend teams who can start building their applications without having to wait for the backend APIs to be fully developed.
- Collaboration and Version Control: The Postman API Platform facilitates seamless collaboration among team members. It allows developers to work together on APIs, share collections, and maintain version control of API definitions.
- API Monitoring: Postman’s monitoring feature allows developers to monitor the performance and health of APIs in real-time. It provides insights into API response times, error rates, and availability, helping teams identify and address issues promptly.
- Environment Variables: Postman supports the use of environment variables, making it easy for developers to manage and switch between different environments (e.g., development, staging, production) when working with APIs.
Postman Team and Enterprise Plans
Postman offers team and enterprise plans to cater to organizations and larger teams working collaboratively on API development projects. These plans come with additional features and functionality to support collaboration and enhance team productivity.
Key Features:
- Team Collaboration: Team plans allow multiple team members to collaborate on API development projects, share collections, and work together efficiently.
- Role-Based Access Control (RBAC): Enterprise plans provide advanced RBAC capabilities, allowing administrators to define roles and permissions for team members within the organization.
- Workspace Management: Team and enterprise plans include workspace management features, enabling teams to organize and segregate API projects effectively.
- Single Sign-On (SSO): Enterprise plans offer SSO integration, enhancing security and simplifying user management for organizations.
Postman Public API Network
The Postman Public API Network is a collection of public APIs provided by various organizations and developers. It allows developers to explore and interact with a vast array of publicly available APIs directly from within the Postman platform.
Key Features:
- API Discovery: The Public API Network serves as a repository of publicly available APIs, making it easy for developers to discover and use new APIs in their projects.
- API Collections: Postman curates API collections, grouping related APIs, making it convenient for developers to find APIs for specific use cases.
Postman API Network for Private APIs
The Postman API Network for Private APIs is a solution for organizations to share and distribute their internal APIs securely. It allows organizations to create private API networks accessible only to designated users or partners.
Key Features:
- Private API Sharing: Organizations can create private API networks and selectively share their APIs with specific users or partners.
- API Documentation and Testing: The platform provides a secure way for organizations to share comprehensive API documentation and testing capabilities with their stakeholders.
Business Model of Postman
Postman’s business model is based on a freemium model. The company offers a free plan that is available to everyone. The free plan includes a limited number of features, such as 100 requests per month and 10 collections. The paid plans offer additional features, such as unlimited requests, team collaboration, and API monitoring.
The paid plans are priced at $15 per month for the Basic plan, $36 per month for the Professional plan, and $49 per month for the Enterprise Essential plan.
Postman’s Freemium Business Model: Postman follows a freemium business model, which has been instrumental in its success in the API development industry. The freemium model combines a free version of the platform with additional premium features and services offered through subscription plans. This approach allows Postman to attract a broad user base and build a strong community of developers while monetizing its platform by providing advanced functionalities to paying customers.
Free Version for Essential API Tools: The free version of Postman’s API development platform provides essential tools and features for API testing, documentation, and collaboration. This accessible offering appeals to individual developers, small teams, and organizations looking to explore the platform’s capabilities without any upfront cost. By offering valuable functionalities for free, Postman can attract a wide range of users and encourage them to experience the platform’s potential.
Postman Professional Subscription for Advanced Functionality: To cater to users with more advanced API development needs, Postman offers a paid subscription plan known as “Postman Professional” Subscribers to Postman Professional gain access to additional features beyond the free version, such as API monitoring, mock servers, team collaboration, and enhanced analytics. This tier is designed for individual developers and small teams who require more comprehensive tools and advanced functionality to streamline their API development processes effectively.
Postman Enterprise for Complex API Requirements: For larger organizations with complex API development requirements and additional security needs, Postman offers the “Postman Enterprise” subscription plan. This plan is tailored to meet the demands of enterprise-level usage and provides a higher level of support, customization, and security features. Postman Enterprise subscribers can take advantage of advanced role-based access control (RBAC), single sign-on (SSO) integration, and dedicated support, making it suitable for organizations with multiple teams and stakeholders.
Generating Revenue through Subscriptions: Postman’s freemium business model effectively generates revenue through its subscription plans. Users who require features beyond the free version can opt for Postman Pro or Postman Enterprise, paying a recurring subscription fee. This subscription revenue sustains the platform’s ongoing development, supports continuous improvements, and provides customers with reliable support.
Exploring Additional Revenue with Public API Network: Additionally, Postman has explored other revenue-generating opportunities through its Public API Network. The Public API Network allows third-party organizations to list their public APIs on the Postman platform. Depending on the arrangements, Postman may share revenue with these organizations through partnerships or other agreements, further diversifying its revenue streams.
Community Building and Ecosystem Development: The freemium model not only generates revenue but also plays a vital role in community building and ecosystem development. By offering a free version, Postman fosters a vibrant and engaged developer community. This community contributes to the platform’s growth, provides feedback, and helps improve the product through user insights. The free version also serves as a powerful marketing tool, attracting new users and promoting the benefits of Postman’s platform to a wider audience.
Postman’s freemium business model has proven to be a successful approach in the API development industry. By providing a free version with essential features and offering premium plans with additional functionalities, Postman can attract and serve a diverse range of users while generating revenue to support ongoing innovation and growth.
Valuation, Funding and Investors of Postman
Here is an explanation of the valuation, funding, and investors of Postman:
Valuation: Postman was valued at $5.6 billion in its $225 million Series D funding round in August 2021. This makes it one of the most valuable startups in the API space.
Funding: Postman has raised a total of $433 million in funding over 6 rounds. Its most recent funding round was a Series D round led by Insight Partners. Other investors in Postman include Nexus Venture Partners, CRV, and Coatue Management.
- Seed Round: In 2015, Postman raised $1 million in Seed Round led by Nexus Venture Partners.
- Series A: In 2016, Postman raised $7 million in Series A funding round led by Nexus Venture Partners.
- Series B: In 2019, Postman raised $50 million in Series B funding round led by CRV and included participation by Nexus Venture Partners.
- Series C: In 2020, Postman raised $150 million in Series C funding round led by Insight Partners with help from existing investors CRV and Nexus Venture Partners with a whopping $2 billion valuation.
- Series D: In 2021, Postman raised $225 million in Series D funding round that values the company at $5.6 billion. The round was led by Insight Partners and joined by three new investors—Coatue, Battery Ventures, and BOND. We also had enthusiastic participation from existing Postman investors CRV and Nexus Venture Partners.
Investors: Postman’s investors are a mix of venture capital firms and individual investors. Some of its most notable investors include:
-
- Insight Partners
- Nexus Venture Partners
- CRV
- Coatue Management
- DoorDash Product Leader Gokul Rajaram
- Freshworks Founder Girish Mathrubootham
Postman’s valuation, funding, and investors are all indicative of the company’s success. The company is well-positioned for continued growth in the years to come.
Here are some of the key factors that have contributed to Postman’s high valuation:
- The growth of the API economy: The API economy is growing rapidly, and this is creating a growing demand for tools like Postman.
- The ease of use of Postman: Postman is a very easy-to-use tool, which makes it a great fit for developers of all levels of experience.
- The wide range of features of Postman: Postman has a wide range of features that make it a powerful tool for API development, testing, and documentation.
- The large user base of Postman: Postman has a large user base of millions of developers around the world. This user base is a valuable asset that helps to drive growth.
Postman’s high valuation is a testament to the company’s success. The company is well-positioned for continued growth in the years to come.
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