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Change the world YOUR Way - Story of a Start-up

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The story of where the idea for Makerble came from and how Matt Kepple got there. …

The story of where the idea for Makerble came from and how Matt Kepple got there.

See you on Makerble!
http://makerble.launchrock.com

NEXT VIDEO:
Matt talks to ideas consultant Mathias Vestergaard about innovation culture:
http://youtu.be/YYNBztGuty4

- awards
- networking
- funding
- saving
- consulting
- rejection
- iterations
- advisors
- market research

Published in: Business, Technology

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  • And we believe we can deliver this digitally through Makerble
  • And we believe we can deliver this digitally through Makerble
  • Source of 6x EBITDA = http://www.macabacus.com/valuation/multiples
  • Transcript

    • 1. STORY OF A STARTUP FOUNDER & CEO @MATTKEPPLE TWITTER: @MAKERBLE #TECHCITY CHANGE THE WORLD YOUR WAY
    • 2. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE • Where the idea came from • The Idea • Making It CHANGE THE WORLD YOUR WAY
    • 3. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE CHANGE THE WORLD YOUR WAY
    • 4. CHANGE THE WORLD YOUR WAY @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
    • 5. Idea 2003. Launched 2004. Ran until 2007.
    • 6. Won Channel4 IDEASFACTORY Award for PR & Marketing Reached final of the Whitbread Young Achiever of the Year Award Awarded with Fellowship of the prestigious British society, the RSA 2005
    • 7. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE The Idea CHANGE THE WORLD YOUR WAY
    • 8. There’s a desire to change the world within each of us
    • 9. Charity staff and charity donors are both motivated to address the issues they care about
    • 10. But what donors don’t see is the day to day progress that staff get to experience
    • 11. And if this progress was visible, people would be inspired to give more and the number of people giving would rise 9.5million latent donors, £665million/year available in extra donations Source: New Philanthropy Capital Money For Good report, UK Giving Green Paper
    • 12. As a team we’ve seen this happen before £25 average donation, 22-35 year olds, 40 projects, £80,000, member- get-member marketing, repeat attendees, charities earned loyalty www.YTFN.ORG 2008 - 2013 Matt Kepple, Annabel Dickson (Makerble) and friends co-founded the Youth Funding Network, www.ytfn.org - 2008-2013
    • 13. There’s a growing appetite for transparency among donors “I don’t donate money to charity because I’m not confident that my donation won’t be wasted. That’s why I volunteer my time instead because that way I see the direct impact of what I put in” HSBC Investment Manager, aged 30-35, male Source: Makerble interviews
    • 14. But often our day-to-day lives get in the way
    • 15. Telling the story of change, not selling the story of change Makerble has a library of charitable projects described in the Help (need) | Make (method, budget) | Change (impact) format
    • 16. Users (Makers) select the causes they care about Makerble tailors a personalised stream of projects matching the user’s interests for their monthly donation to fund.
    • 17. Change is reported on the Maker’s Change Timeline Personalised monthly email newsletter | Mobile app notifications Makers have a Change Score which equates to their total impact across all the projects they’ve ever made possible
    • 18. Automatically published to the Maker’s social network 2.85 new Makers recruited per original Maker 50% Makers activate FB connect x 190 Facebook Friends x 3% signup rate has provided nursery places to 3 orphans in Romania. You can help Ahmed make even more change!
    • 19. Giving Makers the option to subscribe to individual charities, meaning they will always have a project from that charity in their Makerble Stream
    • 20. Makerble is a revolutionary tool putting people in control of their positive global impact like never before. Our marketing reflects the breadth of interest in Makerble and we have staff assigned to these areas. PR EMPLOYEES EVERYWHERE SUB CULTURES SOCIAL MEDIA BRANDED VOUCHERS National media targets Resolving the frustration in charity giving Seeking celebrity Makers Individual departments within companies can impact their choice of causes with a Makerble Bundle that is linked to the company’s Makerble Page Exploring partnership with intermediary organisation to reach the Top 100 graduate employers Big market: Only 2% of University Student Reps: engaging students directly and giving societies to their own Bundles Entertainment venues: clubs, bars, restaurants Hobbyists: e.g. members of Meetup.com groups can impact their choice of causes with Seeded campaign video Earned Media: Makers’ Change Stories published to their social networks Owned Media: charities can engage existing supporters, e.g. using Makerble Charity Facebook App, email newsletter, etc. Brands distribute match-funding vouchers to their customers to support their own choice of projects or projects highlighted by the brand.
    • 21. Team Back Office: Finance, Legal, Technology, Design Front Office: New Business, Customer Experience CEO: Ma Kepple - Team management - Investment raising - Serial innovator in behaviour change for social good - Marke ng, insight, grass root fundraising, social enterprise background Commercial Director: Ahmed Al-aagam - Revenue, pricing, contracts, budge ng - Charity trustee, public service consultancy CEO - Management experience in fashion label, music, fes vals, youth arts Head of Social Progress: Annabel Dickson - Recrui ng & on-boarding change-making orgs - PR and policy-shaping in impact & funding debates - Co-founded YTFN - Solo world tour evalua ng chari es - Built 10:10’s fundraising department Head of Corporate Services: Kate Gault - New business - Client management - Adver sing background: Account Director handling Walkers, Financial Times, The Stroke Associa on. - Client-side: Marke ng Manager at ITV for Drama Lead Developer: Sebas en Bourdu - Managing developers - Site architecture - Founded lee r.com, comemo.org Lead Designer: Theo Louca - Branding, look & feel, wireframes, user journeys, designs - CEO of Rawww Head of Product – Consumer Services: Kate Campbell - UX & Innova on - Customer acquisi on - Code campaign - Super User engagement - Psychology, ac ng, student fundraising events, teaching background Growth Hacker: Liam Reynolds - Site Op misa on - A/B tes ng - Former Data Planning Partner at Engine Group servicing T- Mobile and other clients 0.2FTFT 0.4FT 0.4FT 0.4FTCONSULTANT CONSULTANT CONSULTANT
    • 22. Highsocial giving High Evidence of Impact Low Evidence of Impact Impact reports Progress newsfeed Majority of chari es’ fundraising appeals Dona on ac vity in social newsfeeds Member get Member fundraising via email Specific projects Profiles of other donors are shown Low social giving
    • 23. Breakeven: 40,000 subscribers at £10/month [0.5% market share of 9.5million people market] Monthly Burn: £20k [£9k Biz Dev, £6k Tech, £5k Ops] Amount Requested: Round 1: £25k for 12% equity beta launch Oct-Dec 2013 Round 2: £250k for 14% equity for 9 month runway Q1-Q3 2014 P&L- Expanded Year 1 Year 2 Year 3 Year 4 Year 5 Sept 2013 - Aug 2014 Sept 2014 - Aug 2015 Sept 2015 - Aug 2016 Sept 2016 - Aug 2017 Sept 2017 - Aug 2018 Income £63,119 £6,493,006 £32,563,271 £36,693,109 £41,346,714 Expenditure £252,471 £536,559 £627,379 £710,851 £747,819 Business Development £108,400 £243,000 £418,000 £442,000 £450,000 Technology £76,794 £43,369 £83,369 £103,369 £103,369 Operations £65,374 £117,538 £123,218 £162,690 £191,658 Financing £1,903 £132,651 £2,791 £2,791 £2,791 EBIT -£189,352 £5,956,447 £31,935,892 £35,982,258 £40,598,895 P&L -£189,352 £5,956,447 £31,935,892 £28,785,807 £32,479,116
    • 24. Convio tech company servicing charities primarily in USA enabling them to use the internet. NASDAQ IPO in 2010. Trade sale 2012. Acquirer Blackbaud supplier of software to nonprofits. On NASDAQ.
    • 25. Pre Q4 2013 Seed Round: 3months runway Pre Q1 2014 Scale-up Round: 9months runway (Equity dilution) Pre Q1 2015 Series A Round: 12 months international team (equity dilution) 2018 IPO, Trade Sale, Shares sale. Company Valuation: £300million Friends Group £25k 12% stake (6% stake) (3% stake) Return: £9million. 360x yield Angel Investors and £100k match-funding £250k 14% stake (7% stake) Return: £21million. 84x yield. VC £2.5million 30% stake Return: £90million. 36x yield. Founders 88% stake (80% stake) (60% stake) We forecast Year 5 global EBITDA of £50million: a 0.1% market share of $60billion global fundraising services market 6x EBITDA multiple: Equity Valuation of £300million Convio sold to Blackbaud in 2012 for $385million
    • 26. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Making It CHANGE THE WORLD YOUR WAY
    • 27. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Piloting CHANGE THE WORLD YOUR WAY • Learn cheaply • Gives you success • Gives you a story • Chain of events
    • 28. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Piloting CHANGE THE WORLD YOUR WAY • Top 100 Global Young Social Entrepreneurs - Kuala Lumpur • The RSA • Social Enterprise Ambassador appointed by The Cabinet Office
    • 29. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Funding CHANGE THE WORLD YOUR WAY DON’T LET PERFECTION BECOME THE ENEMY OF THE GOOD • UnLtd £5k grant
    • 30. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE CHANGE THE WORLD YOUR WAY
    • 31. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Funding CHANGE THE WORLD YOUR WAY IF YOU’RE ABLE TO START A START-UP, YOU’RE PROBABLY ALREADY BRINGING A NEW DIMENSION TO YOUR INDUSTRY • Consulting to grow your savings • Rejection is standard • Feedback from honest friends • £100,000 Match Funding • £10k Start-up Loan
    • 32. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE UX CHANGE THE WORLD YOUR WAY HOW DO YOU WANT PEOPLE TO FEEL WHEN THEY INTERACT WITH YOUR BRAND?
    • 33. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE CHANGE THE WORLD YOUR WAY User’s Change Timeline • Profile pic • New Change updates • Total Change score • Project progress indicators • Medals earned and Medals approaching Friend’s Change update Change update of a charity they follow One of my Change Updates Friend’s Change update Friend’s Change update Change Update from a project manager they follow Friend’s Change update Friend’s Change update User’s CHANGE™7 Content Carousel scrolling through each update on the Timeline Promoted Content e.g. Join Gucci’s Bundle! System No fica ons bar – e.g. download mobile app Invite Friends
    • 34. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE CHANGE THE WORLD YOUR WAY
    • 35. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE CHANGE THE WORLD YOUR WAY
    • 36. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE CHANGE THE WORLD YOUR WAY 15 iterations later
    • 37. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE CHANGE THE WORLD YOUR WAY
    • 38. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Market Research CHANGE THE WORLD YOUR WAY • Turn authors of research reports and books into Advisors • Do your own Interviews • Write your own Surveys e.g. Google Survey 1000 people £100
    • 39. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Team CHANGE THE WORLD YOUR WAY • Harness your networks • Always get involved in the things you love • Work for free to build your networks and grow your experience
    • 40. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE CHANGE THE WORLD YOUR WAY (We already knew each other) Because I’d founded Gradulicious, I was invited to join the Connectors. There I met Rajeeb Dey, attended his Enternships.com launch party, met Chris Busch, was invited to join Sandbox, emailed Sandbox for developer recommendations, found Sebastien! He is working on a significantly discounted fee. Summer 2012 I began commenting on blogs and articles online related to charity fundraising to share my perspective on where Makerble would be taking the industry. Liam read about me on the Guardian. He was a senior partner at a marketing agency and called me because he was setting up his own consultancy TrueUp.co.uk and wanted to do some pro bono work. He invented Makerble’s Lifestyle Checkout. In 2005 I worked in advertising. In 2006 my ad agency recommended I work with a tech agency. That tech agency recommended I work with a design agency. That agency is Rawww founded by Theo who has given Makerble £10k of design work on credit until we raise investment. I received an award for Wahblo from UnLtd. They sent me a random email about a girl – Annabel – who wanted to organise pop-up crowd-funding events for undiscovered charities. I got in touch and co-founded YTFN.org with her. She’s now handling all Makerble’s charity relationships. In first year of uni I played the role of Tyrone in FAME The Musical. Some friends hadn’t got in so I organised Musical Theatre Workshops for more students to participate. Through that I met Kate Campbell who ran the largest fundraising events for the charity society. She now handles Makerble’s marketing. I met Kate Gault on a pre-advertising course for graduates. We were both placed at DLKW and then when I left we both worked together in our spare time to build a prototype website for an idea we had called Graduate Flatmates. Kate then worked went up the ranks in advertising and now handles Makerble’s relationships with brands. I received a grant from an organisation called UnLtd for Wahblo. They labelled me one of their top 21 young social entrepreneurs and put me on a 1-week course I reluctantly attended. There I met Ahmed and we then co-founded the Commission for Youth Social Enterprise. Ahmed is now Makerble’s Commercial Director.
    • 41. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Culture CHANGE THE WORLD YOUR WAY • Create a canvas not a painting • Don’t believe the hype • If a solution doesn’t exist, make one. It is ‘makerble’ NEXT VIDEO: Matt talks to ideas consultant Mathias Vestergaard about innovation culture: http://youtu.be/YYNBztGuty4
    • 42. @MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE Thank You Croydon Tech City. See you on Makerble! http://makerble.launchrock.com