Founding History of Postman:

Postman was founded in 2014 by Abhinav Asthana, Ankit Sobti, and Abhijit Kane. The founders shared a passion for simplifying the process of working with APIs and aimed to create a tool that would empower developers to streamline API development and testing.

Abhinav Asthana: A pivotal figure in the founding of Postman, hails from India and embarked on his journey into computer science at the prestigious Indian Institute of Technology (IIT) Roorkee. His educational background laid the foundation for a career marked by significant contributions to the tech industry.

Following his studies, Abhinav delved into the professional realm, serving as a software engineer at Accenture and later at Yahoo. It was during this time that he encountered the challenges of API development, inspiring him to co-found Postman. Abhinav’s experiences as a software engineer, coupled with his passion for simplifying complex processes, played a crucial role in shaping Postman into the widely acclaimed development platform it is today.

His visionary leadership has been instrumental in guiding Postman’s evolution and success within the dynamic landscape of software development.

• Ankit Sobti: Ankit Sobti, another luminary in Postman’s founding team, shares a common Indian origin with co-founder Abhinav Asthana. Ankit’s academic journey led him to pursue computer science at the esteemed Indian Institute of Technology (IIT) Roorkee. Following his academic pursuits, Ankit transitioned into the professional sphere, contributing his skills as a software engineer across various companies, notably at Yahoo.

It was during this phase of hands-on experience in the tech industry that Ankit forged a collaborative partnership with Abhinav, culminating in the inception of Postman. Ankit’s background in computer science and his professional tenure as a software engineer equipped him with the technical acumen necessary for steering Postman’s early stages.

Together with his co-founders, Ankit Sobti played a pivotal role in addressing the challenges of API development, propelling Postman into the forefront of the  industry with its user-friendly and powerful platform.

• Abhijit Kane: He was an instrumental figure in the founding team of Postman, brings a diverse skill set rooted in both management and software engineering. Having earned his credentials from the prestigious Indian Institute of Management Bangalore (IIMB), Abhijit’s educational background reflects a strong foundation in business administration.

His journey into the tech realm commenced with roles as a Senior Software Engineer at Yahoo, where he honed his technical prowess. Abhijit’s transition from a corporate career to entrepreneurship marked a significant juncture when he joined forces with Abhinav Asthana and Ankit Sobti to establish Postman.

His amalgamation of business acumen from IIMB and hands-on experience in software engineering at Yahoo contributed to the strategic vision and operational foundation of Postman, propelling it to become a prominent player in the API development landscape. Abhijit Kane’s multifaceted background underscores the synergy of business management and technological innovation pivotal to Postman’s success.

Genesis of Postman:

The idea for Postman originated from the founders’ experiences as developers working with APIs. Recognizing the tedious and time-consuming nature of  development and testing, they decided to create a tool that would simplify these processes.

The initial version of the company, known as “Postman Chrome,” was a side project developed by Abhinav Asthana while he was working at Yahoo. This Chrome extension gained popularity within Yahoo, leading the founders to transform it into a full-fledged product.

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 its role in facilitating communication and exchange between different software systems, similar to how postmen facilitate the delivery of physical mail.

Early Growth and Funding:

1. Early Success: Postman’s initial triumph was driven by its user-friendly interface for API development and testing. Recognizing the tool’s potential, the founders expanded its capabilities beyond basic features, incorporating advanced functionalities like  documentation generation and collaboration tools.

2. Y Combinator Accelerator: In 2015, the company’s founders joined the prestigious Y Combinator accelerator program in Silicon Valley. This pivotal move provided them with invaluable resources, mentorship, and exposure. Participating in Y Combinator not only validated its’s vision but also opened doors to a broader audience and potential investors.

3. First Funding Round: The Y Combinator experience proved instrumental in securing the company’s first round of funding. This financial support enabled the founders to scale operations, enhance the product, and lay the foundation for Postman’s sustained growth. The combination of early success, strategic expansion, and targeted funding set the company on a trajectory towards becoming a prominent player in the Application Programming Interface development landscape.

Evolution and Expansion:

Over time, the company evolved from a Chrome extension into a comprehensive API development platform, available as a desktop application and a web-based version. The platform’s popularity extended beyond individual developers to startups, medium-sized enterprises, and large corporations.

The company established its headquarters in San Francisco, California, as its user base and team continued to grow. The company’s commitment to customer-centric product development, strategic partnerships, and an active developer community contributed to its continued success.

Products and Services :

Postman offers a suite of tools designed to simplify the development lifecycle:

1. Platform: Serving as the cornerstone, the Postman Application Programming Interface it is a comprehensive suite facilitating the entire development lifecycle. It offers a user-friendly interface for designing, testing, documenting, and real-time monitoring, enhancing efficiency in development processes.

2. Team and Enterprise Plans: Tailored for organizational needs, its subscription plans cater to larger teams. These plans, including Team and Enterprise, feature advanced collaboration tools, role-based access control, and workspace management, ensuring seamless teamwork in  development projects.

3. Public API Network: A curated compilation of public APIs, the Public API Network enables developers to explore and engage with diverse Application Programming Interface directly within the Postman platform. Simplifying  discovery, it includes categorized Application Programming Interface collections, facilitating efficient integration into projects.

4. Application Programming Interface Network for Private APIs: Addressing security concerns, this solution empowers organizations to safely share and distribute internal Application Programming Interface. It provides a controlled environment, allowing selective sharing of Application Programming Interface with designated users or partners, coupled with comprehensive documentation and testing capabilities.

Business Model :

The Company’s business model centers on a freemium approach, presenting users with both free and premium subscription options. The free plan serves as an entry point, offering essential tools for API development, testing, and collaboration. This inclusive strategy attracts individual developers, small teams, and organizations exploring the platform without immediate financial commitment.

For users requiring advanced capabilities, it offers paid subscription plans, namely Postman Professional and Postman Enterprise. These plans unlock a suite of features, including API monitoring, mock servers, team collaboration tools, and enhanced analytics. Tailored to the needs of individual developers, small teams, and enterprises, these premium plans cater to a diverse user base with varying requirements, fostering flexibility and scalability.

The company’s freemium model not only ensures widespread accessibility but also generates revenue from users seeking a more comprehensive API development and testing experience.

Valuation, Funding, and Investors :

• Valuation: In the August 2021 Series D funding round, The company achieved a remarkable valuation of $5.6 billion, backed by a $225 million investment. This valuation reflects the strong investor confidence in its position as a leading player in the API development industry, solidifying its status as a valuable and high-growth startup.
• Funding: The company  has successfully secured a total of $433 million in funding across six rounds. Notable investors such as Insight Partners, Nexus Venture Partners, CRV, and Coatue Management have demonstrated their confidence in its potential, contributing to its substantial financial backing for continued growth and innovation.

The company’s success is attributed to factors such as the growth of the API economy, the tool’s ease of use, a wide range of features, and a large user base. Its high valuation reflects its position as a leader in the API development industry.