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Miro Product

To empower teams to create the next big thing by becoming the universal visual collaboration platform

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To empower teams to create the next big thing by becoming the universal visual collaboration platform

Strengths

  • PLATFORM: Leading visual collaboration platform with 60M+ users and 99.9% uptime reliability
  • GROWTH: 100%+ net revenue retention rate with strong enterprise customer expansion
  • PRODUCT: Comprehensive feature set including whiteboards, mind maps, and 100+ templates
  • COMMUNITY: Strong developer ecosystem with 300+ integrations and active user community
  • BRAND: Recognized market leader in visual collaboration with strong brand recognition

Weaknesses

  • PROFITABILITY: Still burning cash with negative operating margins despite revenue growth
  • COMPETITION: Intense competition from Microsoft, Google, and Figma with deeper pockets
  • COMPLEXITY: Product complexity can overwhelm new users leading to adoption challenges
  • PRICING: Pricing model not optimized for different user segments and use cases
  • MOBILE: Mobile experience lags behind desktop functionality limiting accessibility

Opportunities

  • AI: Integrate AI-powered features for automated content generation and smart collaboration
  • ENTERPRISE: Expand enterprise features for larger organizations with compliance needs
  • VERTICAL: Develop industry-specific solutions for education, healthcare, and consulting
  • HYBRID: Growing hybrid work trend increases demand for visual collaboration tools
  • INTERNATIONAL: Significant growth potential in underserved international markets

Threats

  • TECH: Microsoft and Google bundling collaboration tools with existing enterprise suites
  • ECONOMIC: Economic downturn reducing enterprise software spending and seat expansion
  • PRIVACY: Increasing data privacy regulations impacting global expansion plans
  • SATURATION: Market saturation in visual collaboration space with new entrants
  • REMOTE: Potential return to office reducing demand for remote collaboration tools

Key Priorities

  • Accelerate AI integration to differentiate from competitors and enhance user productivity
  • Focus on enterprise expansion to improve unit economics and reduce churn
  • Optimize pricing strategy to improve profitability while maintaining growth
  • Strengthen competitive moat through advanced features and ecosystem partnerships
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To empower teams to create the next big thing by becoming the universal visual collaboration platform

AI FIRST

Transform Miro into AI-powered collaboration platform

  • LAUNCH: Ship AI content generation for templates by Q2 end with 80% user satisfaction
  • ADOPTION: Achieve 40% of premium users actively using AI features monthly by Q2 end
  • PIPELINE: Build AI-powered meeting facilitation beta with 500 enterprise testers
  • PARTNERSHIP: Secure strategic AI partnership with major provider by Q2 end
ENTERPRISE GROWTH

Accelerate enterprise customer acquisition and expansion

  • DEALS: Close 150 new enterprise deals worth $50K+ ARR each by Q2 end
  • EXPANSION: Achieve 110% net revenue retention in enterprise segment by Q2 end
  • VERTICAL: Launch education-specific solution with 25 pilot customers by Q2 end
  • COMPLIANCE: Achieve SOC2 Type II and ISO 27001 certifications by Q2 end
PROFITABILITY

Optimize unit economics and path to profitability

  • PRICING: Implement new pricing model increasing ARPU by 20% by Q2 end
  • COSTS: Reduce customer acquisition cost by 15% through improved conversion rates
  • MARGINS: Improve gross margins to 85% through infrastructure optimization
  • CHURN: Reduce SMB monthly churn rate from 5% to 3% through product improvements
COMPETITIVE MOAT

Strengthen competitive position and differentiation

  • INTEGRATIONS: Launch 50 new integrations with popular business tools by Q2 end
  • API: Release public API with 100 developer partners building on platform
  • MOBILE: Achieve feature parity between mobile and desktop apps by Q2 end
  • PERFORMANCE: Improve platform performance with 50% faster load times for large boards
METRICS
  • ARR: $350M by Q2 2025
  • NRR: 110% for enterprise segment
  • AI ADOPTION: 40% premium users using AI features monthly
VALUES
  • Transparency
  • Boldness
  • Care
  • Play
  • Meaningful Work
Miro logo
Align the learnings

Miro Product Retrospective

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To empower teams to create the next big thing by becoming the universal visual collaboration platform

What Went Well

  • REVENUE: Strong revenue growth of 35% YoY reaching $300M+ annual run rate
  • ENTERPRISE: Successful enterprise customer acquisition with 25% growth in large deals
  • RETENTION: Maintained high net revenue retention above 100% indicating strong expansion
  • PRODUCT: Launched key product features including advanced collaboration tools

Not So Well

  • MARGINS: Operating margins remained negative impacting path to profitability
  • COMPETITION: Lost some enterprise deals to Microsoft Teams and Google Workspace
  • CHURN: SMB customer churn increased due to economic pressures and competition
  • INTERNATIONAL: Slower than expected growth in key international markets

Learnings

  • FOCUS: Need to focus on fewer, higher-impact features rather than broad feature set
  • PRICING: Pricing optimization critical for improving unit economics and profitability
  • ENTERPRISE: Enterprise sales cycle requires more dedicated resources and expertise
  • COMPETITION: Must differentiate more clearly from bundled solutions from tech giants

Action Items

  • PROFITABILITY: Implement cost optimization initiatives to improve operating margins by Q3
  • AI: Accelerate AI feature development to differentiate from competitive offerings
  • ENTERPRISE: Expand enterprise sales team and develop vertical-specific solutions
  • PRICING: Conduct comprehensive pricing analysis and implement optimized pricing model
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To empower teams to create the next big thing by becoming the universal visual collaboration platform

Strengths

  • DATA: Rich user interaction data from 60M+ users provides strong foundation for AI training
  • PLATFORM: Existing visual collaboration platform ideal for AI-enhanced content generation
  • TALENT: Strong product and engineering team capable of integrating AI capabilities
  • PARTNERSHIPS: Strategic partnerships with AI providers enable rapid feature development
  • USERBASE: Large active user base provides immediate market for AI-powered features

Weaknesses

  • EXPERTISE: Limited in-house AI/ML expertise compared to tech giants like Google and Microsoft
  • RESOURCES: Constrained financial resources limit investment in AI research and development
  • INFRASTRUCTURE: Current infrastructure may need significant upgrades for AI workloads
  • SPEED: Slower AI development cycle compared to well-funded competitors with AI focus
  • STRATEGY: Unclear AI strategy and roadmap for competitive differentiation

Opportunities

  • AUTOMATION: AI-powered template creation and content suggestions to reduce user effort
  • INTELLIGENCE: Smart meeting facilitation and automated action item generation
  • PERSONALIZATION: AI-driven personalized workspace recommendations and workflows
  • INTEGRATION: AI-enhanced integrations with popular business tools and workflows
  • ANALYTICS: Advanced analytics and insights from collaborative sessions using AI

Threats

  • MICROSOFT: Microsoft's deep AI integration across Office 365 and Teams ecosystem
  • GOOGLE: Google's AI capabilities integrated into Workspace and collaboration tools
  • OPENAI: Direct competition from AI-first collaboration tools and platforms
  • PRIVACY: AI data processing concerns limiting enterprise adoption and compliance
  • COMMODITIZATION: AI features becoming table stakes reducing competitive advantage

Key Priorities

  • Develop AI-powered content generation and smart templates to enhance user productivity
  • Build strategic AI partnerships to accelerate capability development and market entry
  • Focus on privacy-first AI implementation to address enterprise security concerns
  • Create AI-driven insights and analytics to provide unique value proposition