Startups

Ryan [email protected]

http://ryanjunee.com

Startups

My Background

Idea Execute

Pitch Exit

Questions?

Mind

My Background

Idea Execute

Pitch Exit

Questions?

Mind

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

Epic Fails Pivots

12 months

Epic Fails Pivots

12 months

Epic Fails Pivots

3 months

12 months

Epic Fails Pivots

3 months 2 months

11 months

12 months

Epic Fails Pivots

3 months 2 months

11 months

12 months

Epic Fails Pivots

3 months 2 months

We are still going (currently 200k users)

Mentoring:

Investing:

Mentoring:

Investing:

My Background

Idea Execute

Pitch Exit

Questions?

Mind

Figure it out as you go...

My Background

Idea Execute

Pitch Exit

Questions?

Mind

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

Accelerator programs

http://www.seed-db.com/accelerators

networking fundraising mentorship

My Background

Idea Execute

Pitch Exit

Questions?

Mind

FOCUS

Use Surveys to Decide

Inporia v1.0

• Google Docs Form + Amazon Mechanical Turk

• AYTM.com

Minimize Cycle Time

credit: Eric Reis

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

Idea Execute

Pitch Exit

Questions?

Mind

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

Idea Execute

Pitch Exit

Questions?

Mind

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

Idea Execute

Pitch Exit

Questions?

Mind

Ryan [email protected]

http://ryanjunee.com

Questions?