Post on 06-Sep-2014
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Ryan Juneeryan@junee.org
http://ryanjunee.com
Startups
My Background
Launch Learn
Pitch Exit?
Questions?
Idea
My Background
Launch Learn
Pitch Exit?
Questions?
Idea
Learneda Lot
2007: Started Omnisio
Funded by Y Combinator (Winter 2008)
9 months later...
1 year later...
2010: Quit YouTube, brainstorming (w/ Max Skibinsky)
2011: Founded Inporia
Raised $1.3M from top silicon valley investors
11 months
12 months
Epic Fails Pivots
3 months 2 months
We are still going (currently 200k users)
Mentoring:
Investing:
My Background
Launch Learn
Pitch Exit?
Questions?
Idea
credit: Peter Thiel
Your Idea:
What is your
passion?
ConsumerInternet
EnterpriseSoftware
Energy, Biotech,AI, ...
distribution,distribution,distribution
Build and managea sales team
Solve hard technical problems
Choose yourco-founder(s) carefully
My Background
Launch Learn
Pitch Exit?
Questions?
Idea
FOCUS
Use Surveys to Decide
Inporia v1.0
• Google Docs Form + Amazon Mechanical Turk
• AYTM.com
Landing Page / Smoke Test
Drive traffic with Google Ads, Facebook Ads ...
•Value Proposition
•Sign Up• Facebook• Email• ....
• Wide variation in price• Inporia $2.17/user (Google)• Mobile dating app: $0.10/user (Facebook)
Launch, Press (Mobile example)
1. Monday/Tuesday launch is best2. Pre-brief all press (with embargoes)3. Tech blogs break the news (night before launch)4. Ask people to re-tweet news5. Mainstream press articles (launch morning)6. App review sites (1-2 days later)7. Paid user acquisition (1-2 days later)
Goal: Increasing downloads over a week (= top ranked list)
Kaleidoscope v1.0 - Not Bad
Kaleidoscope v2.0 - Much Better
Featuredby Apple
This Morning:
Featuredby Google
Integrate with Social Platforms
PressFacebook
Organic
My Background
Launch Learn
Pitch Exit?
Questions?
Idea
AARRR!
credit: Dave McClure
Before Product-Market Fit:• Retention (do they come back?)• Engagement (time/actions on site)• Mobile: reviews/ratings
Talk to customers!
Simple questions: Qualaroo• “What else would you like to see on this page?”• “How likely are you to recommend this? (NPS)”
Video testing: usertesting.com
In-person interviews• Craigslist• 45 mins / $20
Easiest
Most Information
After Product-Market Fit:• Growth in DAU
We are not quite there yet!
My Background
Launch Learn
Pitch Exit?
Questions?
Idea
SingleSentence
Elevator Pitch
‘Demo Day’
10-slide deck
30 seconds
2 minutes
20 minutes
1. Single Sentence2. The Problem3. Your Solution4. Product Demo5. Market Size
6. Business Model7. Distribution8. ‘Secret Sauce’9. Team10. Milestones
Elements of a pitch
more...
Fundraising in Silicon Valley• Seed Stage: (200K - 2M): Convertible Note• Series A (2M - 5M): Equity
Seed Valuations Going Up
Source: Fenwick & West+ my estimate
My Background
Launch Learn
Pitch Exit?
Questions?
Idea
Who would you rather be?
“Companies are bought, not sold”
Acqui-hires in Silicon Valley
Seed Stage Funding
Supply of Engineers
Acqui-hires
• ‘Soft landing’ for failed startups• $1M - $2M per engineer• 2 - 4 years vesting• Payback investors (sometimes)
My Background
Launch Learn
Pitch Exit
Questions?
Idea
Ryan Juneeryan@junee.org
http://ryanjunee.com
Questions?