How Mode.com Fueled a $200M Exit: A Strategic Domain Acquisition Story
From SQL Notebooks to a $200M Exit: The Story of Mode
When Mode Analytics launched in 2013, the world didn’t need another data company—it needed a better one. Founders Derek Steer, Benn Stancil, and Josh Ferguson had all come from Yammer, where they saw firsthand how difficult it was for analysts and business teams to collaborate around data. Analysts were stuck in SQL editors. Business teams were stuck in spreadsheets. Mode set out to change that.
Their product vision was simple but powerful: build a collaborative data platform that combined SQL, Python, and visualizations in one shared workspace. Instead of splitting workflows between analysts and stakeholders, Mode would bring them together.
In the early days, the company operated under the practical domain of ModeAnalytics.com. It wasn’t about branding. It was about shipping.
Early Growth and a Steady Climb
Mode quietly became a go-to tool for modern data teams. Without big splashy campaigns, they found product-market fit among fast-growing tech companies like Lyft and Twitch. The platform stood out for being flexible, fast, and built by analysts, for analysts (BAFA, as people on the street say?!). They raised a $7.5M Series A in 2014, then a $13M Series B in 2016.
But it wasn’t all smooth sailing. For a while, Mode got lumped into the "BI tools" bucket—a crowded category dominated by giants like Tableau and Looker. They faced pressure to differentiate. Internally, they wrestled with how to broaden their story without losing the core audience that loved them.
That’s when questions about positioning—and branding—started to matter more.
The Domain They Couldn’t Have (Yet)
The team had long admired Mode.com—a crisp, one-word domain that matched their company name perfectly. But it wasn’t available. It was owned by Mode Media (formerly Glam Media), a lifestyle publishing company completely unrelated to analytics.
Still, they kept it on the radar.
In 2016, Mode Media suddenly collapsed. It shut down operations overnight and laid off hundreds of employees. Its digital assets—including Mode.com—were bundled and put up for sale. Mode Analytics tried to get the domain, but it was packaged with other properties and sold as a group. They lost the bid.
It could have ended there. But the buyer, it turned out, only wanted Glam.com. Mode.com was just digital baggage.
Right Domain, Right Time
Fast forward to 2019. Mode Analytics had just raised its Series C and was in a stronger position to make a strategic investment in the brand. With the support of board member David Obrand—who’d led a successful rebrand at Fuze—they negotiated a deal to acquire Mode.com for $300,000.
The structure was smart: monthly payments over two years, held in escrow. This allowed Mode to start using the domain immediately while conserving cash during a critical growth phase.
But this wasn’t about vanity. It was about maturity.
The Power of Simplicity
Switching from ModeAnalytics.com to Mode.com wasn’t a rebrand—it was a graduation. Dropping “analytics” gave them the freedom to evolve the product beyond just dashboards. It created room for new modules, like Python notebooks, collaboration tools, and even AI-assisted features.
More importantly, the domain gave them credibility. Enterprise customers took them more seriously. Recruiting got easier. Cold emails got more replies. It helped Mode show up like a company that was playing to win.
Exit Mode
In June 2023, Mode was acquired by ThoughtSpot for $200 million in a mix of cash and equity. The deal validated a decade of heads-down building. The Mode team had weathered category noise, competitive pressure, and brand limitations—and emerged with a loyal user base and a differentiated platform.
Was Mode.com the reason they got acquired? No. But it was part of the story. It was a bet on how they wanted to be perceived—and who they wanted to become.
Domains Don’t Build Companies—People Do
The story of Mode is a reminder that great companies start with great products. But when the time is right, investing in a strong, simple brand can help unlock the next chapter. For Mode, a $300K domain didn’t make the company—but it amplified what they’d already built.
