# Topic: Fundraising

> Capital as a growth lever and as a distribution channel.

- 3 entries

- [How Gamma Turned a 95% Drop-Off into $100M ARR](https://www.productgrowth.blog/p/gamma-growth-teardown-100m-arr) (Feb 28, 2026) — Gamma fixed a 95% drop-off with one AI bet: generate the first draft for the user. That took it from 60K to 3M users in three months, and on to $100M ARR.
- [How Midjourney Hit $500M ARR With Zero VC and Zero Marketing](https://www.productgrowth.blog/p/how-midjourney-hit-500m-arr) (Dec 17, 2025) — Midjourney's customer acquisition strategy: borrow Discord's distribution, charge from day one, and let every public image sell the product. $500M, zero marketing.
- [How Perplexity Hacked Its Growth: Everything You Can Adopt from It](https://www.productgrowth.blog/p/how-perplexity-hacked-its-growth) (May 9, 2025) — How Perplexity built a customer acquisition strategy on six compounding growth loops: 15M MAU and a $9B valuation in two years, plus the tactics you can copy.

---

All posts: https://www.productgrowth.blog/archive · Site: https://www.productgrowth.blog