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Will Work For Equity - the World of Startups
Carl LudewigLudewig Multimedia, Inc.
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Addicted to Startups
• Carl Ludewig– Software engineer and entrepreneur– UC Berkeley Computer Science grad– Co-founded Ad Infuse in 2005, sold to Velti in
2009– Early involvement in startups since 1998– 4 patents issued related to software and
media– Love solving tough problems and building
teams– Enjoy fast pace and short time to market– Currently bootstrapping new venture
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Once More Unto the Breach
Mission• Make application
development easier• Empower designers and
business users
Attitude• Bootstrap it!• Talent matters• Keep moving forward…
Product• GUI-driven app creation
for non-programmers• Software consulting and
hosting (pay the bills)
Company• Ludewig Multimedia, Inc.• Going since Feb 2010• 2 employees, 1
contractor• 50% revenue growth YoY
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Can’t Sit Still
Start a company if you have:– Vision: a desire to create something new– Risk tolerance: anything can happen– Drive: must be self-disciplined
Don’t do it for the wrong reasons:– Hate the day job– $$$ (yeah, it’s a goal, but can’t be sole
motivator)– Want more free time (nope, you’ll have less!)
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Money, It’s a Gas
GREATIDEA!
There’s a shortage of
capital!
There’s a shortage of good ideas!
The FounderThe Investor
• How you perceive the market depends on where you stand• Money does not necessarily solve your problems• Equity has value• Know what your goals are – and what you’re willing to give
away
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• Cloud computing makes capital much less important for software companies
• Open source is a gift• Lean startups are the norm
– Customer development– Agile methodologies– Release early and often
• As execution becomes easier, the winners will be determined by good design and ease of use
Living in the Cloud
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Technology Doesn’t Matter*
• A hard lesson for a techie• Your success will be determined by the
number of customers you serve, not the beauty of your architectureQ. What’s the best tech stack?A. The customer doesn’t care.
• Perception is reality in all phases: recruiting, raising capital, getting customers
• Invest in design* But I care about it anyway
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Thank You
"People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas.”
- Steve Jobs
P.S. We’re hiring: [email protected]