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Aaron Batalion, LivingSocial, Lean Startup SXSW

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Aaron Batalion, CTO of LivingSocial …

Aaron Batalion, CTO of LivingSocial
Presentation on pivots at the 2012 Lean Startup SXSW in Austin.

Published in: Technology, Business

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  • 1. CHECK YO-SELF BEFORE U WRECK YO-SELF: Pivots Aaron Batalion Co-Founder & CTO LivingSocial @abatalion
  • 2. What is a startup? "a search for a scalable, repeatable business model" - Steve Blank, Four Steps to the Ephiphany 2
  • 3. If a startup is a search.... then your first idea... is probably wrong! 3
  • 4. So what’s a pivot? "The idea that successful startups change direction but stay grounded in what theyve learned" - Eric Ries, The Lean Startup 4
  • 5. PivotsOur search for a scalable business 5
  • 6. 07/2007Social Application Consulting 6
  • 7. 7
  • 8. 8
  • 9. Visual Bookshelf 9
  • 10. PivotsScalable? Need a new idea... 10
  • 11. 11
  • 12. 12
  • 13. 10X more reviews than Amazon!31,161 vs 2,921 13
  • 14. 14
  • 15. * 10 employees @ $85k = $1M* $12.50 * 8% = $1* 1% of purchase conversion* 100M visitors = $1M 15
  • 16. * 10 employees @ $85k = $1M * $12.50 * 8% = $1 * 1% of purchase conversion * 100M visitors = $1MHave to be top 200 site in US! 16
  • 17. Full Site Takeovers 17
  • 18. Not enough! More than Books? 18
  • 19. More than Books! 19
  • 20. Doubled Traffic! Not Enough! 20
  • 21. Google = Document Graph Facebook = People Graph LivingSocial = Stuff Graph 21
  • 22. Targeted Ad Platform 22
  • 23. Need Traffic!!#1 app on MySpace the first day! Uhhh... 23
  • 24. PivotsScalable? Need a new idea... 24
  • 25. This Stinks! 25
  • 26. Pick Your Five! 26
  • 27. If we nail this... Facebook will buy us!! 27
  • 28. 28
  • 29. 03/09 ~300k PV/day 29
  • 30. 3/21 10M PV/day 30
  • 31. 31
  • 32. 4 engineers6B PVs/month35M in 3 weeks no sleep. 32
  • 33. PivotsScalable? Need a new idea... 33
  • 34. 34
  • 35. 35
  • 36. 36
  • 37. 37
  • 38. Seriously guys?? 38
  • 39. Solved a real problem Screw it... Lets just sell to Facebook.. 39
  • 40. Facebook didnt buy us... 40
  • 41. Careful building “features”...The bigger guy might just build it too. 41
  • 42. 42
  • 43. Fucking Farmville! Took #1 Spot! Took user’s CCs! Reinvested profits for growth! 43
  • 44. PivotsScalable Revenue? Need a new idea... 44
  • 45. 3 cities Small sales team 45
  • 46. 07/21/092 week prototype 46
  • 47. Scale Users + Scale Merchants = Scale Revenue 47
  • 48. 48
  • 49. Thousands of field sales 49
  • 50. Thousands of field salesInternational Growth 50
  • 51. Thousands of Purchases Hundreds of Cities 51
  • 52. National Deals 52
  • 53. 80 purchases/sec 2 largest social commerce deals ever 53
  • 54. 54
  • 55. Escapes - Travellargest flash travel site in first week 55
  • 56. Premium LivingSocial Events 56
  • 57. High End Restaurants 57
  • 58. White Glove Delivery? 58
  • 59. What about regular delivery? 59
  • 60. 60
  • 61. 61
  • 62. Lessons Learned 62
  • 63. Our Core DNA = Products & Techology 63
  • 64. Consumer Internet Hard Part = TRACTION 64
  • 65. Learn as fast as possible find traction pour gas on the fire! 65
  • 66. Success not pretty code not infinite scale It’s SUCCESSFUL Products! 66
  • 67. Measure EVERYTHING! 67
  • 68. Does it work? 68
  • 69. Rails? Node.js? .NET? Which test framework?Is my domain model correct? Heroku? Amazon Web Services? Shut up and build stuff! 69
  • 70. Dont Hate... Iterate! 70
  • 71. J.S.I.O.use what you know “Good enough is ok” 71
  • 72. each developer deploys dozens of times per day 72
  • 73. Only work with amazing peopleDefault to “no” Culture! 73
  • 74. “12 startups in a startup” 74
  • 75. Execution Matters Most 75
  • 76. 76
  • 77. PivotsThanks! 77