Aaron Batalion, LivingSocial, Lean Startup SXSW

14,979 views
14,648 views

Published on

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

Published in: Technology, Business
2 Comments
36 Likes
Statistics
Notes
No Downloads
Views
Total views
14,979
On SlideShare
0
From Embeds
0
Number of Embeds
305
Actions
Shares
0
Downloads
0
Comments
2
Likes
36
Embeds 0
No embeds

No notes for slide

Aaron Batalion, LivingSocial, Lean Startup SXSW

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

×