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Definition
It is a stage where, when businesses' revenue is plotted on a graph, it appears upwards curving. It denotes a consistent increase in revenue over time. The graph's figure resembles a hockey stick. Because of how rapidly the revenue has increased, the last section of the rise almost seems like a straight line. Similar to the handle of a hockey stick.
How is it useful?
Hockey stick instance is usually observed in startups when they hit PMF. Or it happens when a new product is launched by a firm in the market. It shows that customers’ demands are met & that the market has approved the product.
Example
In the year 2022, before its acquisition by Adobe, Figma’s revenue was shooting & doubling up. Figma observed a >50% revenue year on year. And its revenue graph between the years 2017-2022 shows an example of a hockey stick.