This is known as social proof and can be impactful on growing a successful startup. In the context of Canva, a DIY design platform from Australia recently valued at $345 million, this psychology has helped legitimize the brand’s credibility. Canva is a startup that provides an accessible design tool for creatives. Given the impact social indicators have on human decision making, user confidence tends to increase inline with the size of a platform’s users and recommendations. By having a high number of early users, Canva positions its service as valuable.

Source: Forbes November 28, 2016 03:08 UTC