Hardi Meybaum - GrabCAD - Estonia - Stanford Engineering - Jan 23 2012

story by Hardi Meybaum

Stanford Engineering

European Entrepreneurship & Innovation

1/23/2012

@hardi_meybaum

@grabcad

12/2009 - The first order

Lesson learned #1: don’t give up after first failure

01/2010 - The first $ order

01/2010 - The first $ order

Lesson learned #2: celebrate victories - earned $25,

celebration dinner $60

02/2010

How to get more engineers

to work on orders?

02/2010

Quit a day-job,

week before 1st child was born

Lesson learned #3: have a very very understanding wife

06/2010

Raised a first seed money

to build a CAD Library

Lesson learned #4: raising the money from Europe is difficult and

expensive

08/2010 - launched Library

Lesson learned #5: build a minimum product

grabcad.com/library/bobber-bike-1

09/2010 - Meet Terry

Lesson learned #6: talk to customers

grabcad.com/terry.stonehocker

10/2010 - from static Library to

community

Lesson learned #7: learn how others innovate

10/2010 - moved to Boston

Lesson learned #8: everything is not like it appears

Lesson learned #9: you are in or out, no middle choice

booked this room for 3 months but got that one

12/2011- raising money in US

‣200 investors, advisors, customers .. in 3 months

‣1 investor partner meeting and a no

Lesson learned #10: talking to people gives you lot of great feedback

Lesson learned #11: raising money in US is difficult

02/2011 - what is this?

02/2011 - lets through it out there

Lesson learned #12: you are not the smartest person out there

03/2011 - joined Techstars

Lesson learned #13: learn from other entrepreneurs

05/2011 Challenges

grabcad.com/challenges

05/2011 - Challenges

Lesson learned #14: experiment

05/2011

Lesson learned #15: A/B test

started A/B testing

06/2011 closed Seed Round

7 angels

Lesson learned #1: don’t give up after first failure

(remember the no from Partner Meeting?)

12/2011 - Remember Terry?

Lesson learned #6: talk to customers

now works for top customers in mfg industry

grabcad.com/terry.stonehocker

1/2012 - Series A

Lesson learned #16: read this blog - www.forentrepreneurs.com

$4M from inside investors

and most important

Lesson learned #17: the TEAM matters the most

Lesson learned #18: find people you enjoy working with

Lesson learned #19: find people who want to learn and develop

grabcad.com/about

story by Hardi Meybaum

Stanford Engineering

European Entrepreneurship & Innovation

1/23/2012

@hardi_meybaum

@grabcad