Do You Smell That? It’s Opportunity.
The average day of this particular API Fortress founder is spent doing one of two things. Either selling API Fortress, or talking about the API industry. Some people think running a startup is a glamorous life of champagne and yachts, but it’s mostly marketing campaigns and stomach knots.
The really interesting conversations come when discussing API testing. This is where a more macro discussion is necessary, one that really delves into why we started this company.
Being a movie laggard I only recently saw The Big Short, and the Jenga scene had a particular resonance.
In this scene Ryan Gosling is looking to sell his credit default swaps to the Steve Carrell character. He is using Jenga to show the precarious nature of the housing market. Here is the the most interesting interaction between the characters:
Carrell: “Ok, you’re saying that at 8% the bonds fail, and we are already at 4%?”
Gosling: “That’s right.”
Carrell: “They go to 8, it’s Armageddon? How come nobody’s talking about this?”
Gosling: “No one is paying attention.”
That’s the automated API testing market. The automated testing market was valued at $16b last year, and is projected to hit around $80b in 2024. The vast majority of that money is spend on website and app testing. Almost none on APIs, even though the APIs are what often powers those websites and apps. Shouldn’t you test the water reservoir, and not just the label of the water bottles?
This is why the report from Forrester this year was particularly interesting. In it they state:
“Modern applications require a shift of the current 80% UI automation (websites and apps) down to 5% to 10% approximately, shifting about 80% of that test automation to be replaced by API test automation.”
Welcome to our (positive) Armageddon. A shift of 80% of an 80b market. Like the housing market in The Big Short, to us the need for an automated API testing platform was always clear. Only now is the general public seeing it though. Which is both exciting and scary. How many API problems have been missed? How many billions lost?
Gosling: “I’m standing in front of a burning house, and I’m offering you fire insurance on it.” Buy some API Quality Insurance with API Fortress. Operators are standing by.